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Listed by Ismael Benhamida • Compass, DRE#01722847
$4,250,000
Est. payment /mo
1 Bed
1 Bath
18,711 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 18,711 sqft
Price per Sqft $227
MLS Listing ID ML82056742
Bedrooms 1
Full Baths 1
Year Built 1993
Lot Size 0.704 Acres
Property Sub-Type Five or More Units
Property Description
Casa Linda Apartments is a rare 1993-built 24-unit multifamily in San Pablo, offered at $4,250,000 ($177,083/unit, $227/SF). Newer construction delivers institutional-quality infrastructure rare for the vintage: a full building fire-sprinkler system, elevator access, all-interior staircases and walkways, and a fully hardwired security camera system. All 24 units are 1BD/1BA with private outdoor space (patio, balcony, or yard). A large gated surface lot serves the property (no tuck-under parking). A ground-floor amenity room offers flexible tenant use or ADU-conversion potential. Priced at an attractive 7.0% current cap rate with strong value-add upside to an 8.67% market cap; GRM of 8.17 current / 7.03 market. Current monthly scheduled rent of $43,329 ($519,948/yr) grows to $50,400 ($604,800/yr) at market. NOI upside comes from light repositioning (paint, landscaping, community-room renovation), rent optimization, RUBS billing, and expanded laundry income. In western Contra Costa County with I-80/I-580 access and proximity to BART, AC Transit, and Amtrak. Strong East Bay rental demand, a housing shortage, proximity to major employers, and significant value-add and ADU potential make 2001 Broadway Avenue a great opportunity for both the cash flow and appreciation-minded investor.
Location
State CA
County Contra Costa
Area San Pablo Proper
Zoning RMU
Interior
Heating Electric
Cooling None
Exterior
Parking Features Assigned Spaces
Garage Spaces 24.0
Community Features Community Pool, Elevator
Utilities Available Individual Electric Meters, Individual Gas Meters
Roof Type Tar and Gravel,Tile
Building
Foundation Concrete Perimeter and Slab
Sewer Sewer - Public
Water Public
Others
Restrictions None
Tax ID 413-370-026
Security Features None
Special Listing Condition Not Applicable
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