1127 Virginia LnConcord, CA 94520

Description

1127 Virginia Ln is an 8-unit, 100% occupied multifamily asset in Concord priced at $312,500 per unit. In-place rents average $2,472 per month against $2,650 market rent. The deal trades at a 5.23% in-place cap rate (10.53x GRM). The unit mix is uniform: eight 910-square-foot two-bedroom, two-bath residences, most with updated kitchens and/or bathrooms. Built in 1965, the property sits on a 13,939 SF lot with 6,636 square feet of building and 18 surface parking spaces. The property has direct access to Interstate 680 and proximity to HIghway 242, 4 and 24; the Benicia Bridge, connecting tenants to Orinda, Walnut Creek, Danville and the broader Bay Area. Concord BART is a 10-minute drive, putting San Francisco roughly an hour away by transit. Shopping, entertainment, schools and parks are all nearby.

Property Information

Property type

Residential Income

Year built

1965

Lot size

0.32 acres

Parking spaces

18

Days on market

79

MLS^® Listing#

41145960

Property Features

Cooling

Wall/Window Unit(s)

Heating

Wall Furnace

Construction

Stucco

Financial Details

Annual taxes

$3,025

Parcel number

1282900651

Directions

Cross Street: Monument Blvd.