Bought with Richard Martini • Colliers International
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Key Details
Sold Price $2,850,000
Property Type Multi-Family
Sub Type 5 or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 9,646 sqft
Price per Sqft $295
MLS Listing ID 324036732
Sold Date 07/29/24
HOA Y/N No
Year Built 1927
Lot Size 9,583 Sqft
Property Description
Extremely rare 18-unit apartment complex with four commercial spaces in Downtown Martinez, California. With frontage on both Pine Street and Susana Street, the subject property consists of four separate buildings situated on a level corner parcel of approximately 0.22 acres. Highlighted by a unit mix of ten (10) 1-bedroom, 1-bath units, eight (8) studio units and four (4) individual retail spaces with frontage on Pine Street, this well-located property has easy access to restaurants, shops, schools and public transportation. This location fits perfectly with the building unit mix of 1-bedroom and studio units. This fully stabilized asset consists of mostly long-term tenants and any vacancies are filled quickly. This well-maintained property offers investors a significant value-add opportunity to capture huge upside that could be realized by modernization of the units and increasing the under-market rents.
Location
State CA
County Contra Costa
Area Martinez
Interior
Heating Wall Furnace
Cooling Varies by Unit
Exterior
Parking Features Street
Roof Type Flat
Building
Foundation Concrete Perimeter, Slab
Sewer Public Sewer
Water Public
Others
Special Listing Condition Offer As Is
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Rebecca Brooks
San Francisco Bay Area Team Leader | License ID: 1249870
San Francisco Bay Area Team Leader License ID: 1249870