Updated 8-Unit Apartment
New
For Sale
$2,500,000
1127 Virginia Ln, Concord, CA 94520
Fully occupied multifamily property with consistent two-bedroom residences and select kitchen and bathroom updates.
Property Size6,636 SF
Lot Size0.32 Acres
Price / SF$376.73
Days on Market7
Property Features for 1127 Virginia Ln
General Information
Standard status
Active
Size
6,636 SF
Total Parking Spaces
18
Lot size
0.32 Acres
Property subtype
5 or More Units
Occupancy
100%
Financials
Cap Rate
5.23%
Gross Rent Multiplier
10.53
Average Monthly Rent
$2,472
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
8 x 2BR/2BA
Multifamily Units
8
Building Details
Building Size
6,636 SF
Year Built
1965
Listing Agency:
GCM Realty & Loans
(510) 387-7954
Listed By:
Maurice Carbajal · License #01415783
(510) 387-7954
Source:
Annnewtoncane
Added: Aug 23
Changed: Aug 28
Last Checked: Aug 25 at 10:31AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of GCM Realty & Loans
Investment Insights
Based on property information with market context.
This 8-unit apartment property was built in 1965 and contains 6,636 square feet on a 13,939-square-foot lot. All residences follow the same layout, offering 910 square feet with two bedrooms and two bathrooms. Most units feature updated kitchens and/or bathrooms, and the property provides 18 surface parking spaces. Occupancy is reported at 100%, with a 5.23% in-place cap rate and 10.53x GRM.
The property has direct access to Interstate 680 and is near Highways 242, 4, and 24. The Benicia Bridge provides connections toward Orinda, Walnut Creek, Danville, and the broader Bay Area. Concord BART is approximately a 10-minute drive, while San Francisco is roughly an hour away by transit. Shopping, entertainment, schools, and parks are located nearby.
The property has direct access to Interstate 680 and is near Highways 242, 4, and 24. The Benicia Bridge provides connections toward Orinda, Walnut Creek, Danville, and the broader Bay Area. Concord BART is approximately a 10-minute drive, while San Francisco is roughly an hour away by transit. Shopping, entertainment, schools, and parks are located nearby.
Key Highlights
- 8‑unit multifamily property at 1127 Virginia Ln, Concord, CA 94520
- 100% occupied with a 5.23% in‑place cap rate and 10.53x GRM
- Eight 910‑square‑foot residences, each with 2 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$105,268
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.21%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,105,360
$2.1M
Cap Rate 7%
$1,503,829
$1.5M
Cap Rate 9%
$1,169,644
$1.2M
Market Conditions
NOI Build-Up for 6,636 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$201.5K $30.36/SF
− Vacancy
−$10.1K −$1.52/SF
EGI
$191.4K $28.84/SF
− OpEx
−$86.1K −$12.98/SF
NOI
$105.3K $15.86/SF
Area
Concord, CA
Vacancy
5.00%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,105,360
Cap Rate 7%
$1,503,829
Cap Rate 9%
$1,169,644
Alternative Uses
Best Use
Apartment 5plus
$1.50M
$1.32M – $1.75M
NOI $105,268 @ 7.0% cap · market cap 4.21%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.62M
$1.42M – $1.89M
NOI $113,614 @ 7.0% cap · market cap 4.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
936
Businesses Nearby
Explore this area
Business Placement
Demographics for 94520, CA
38,383
Population
13,661
Households
2.8
Avg Household Size
35
Median Age
30%
College-Educated
79%
High-School Grad
9.9 sq mi
ZIP Area
3,877
Density / Sq Mi
$79,790
Median Household Income
$43,382
Median Earnings
$2,118
Median Rent
$572,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with consistent two-bedroom residences and select kitchen and bathroom updates.
Where is this apartment building located?
The property is located at 1127 Virginia Ln Concord, CA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 8‑unit multifamily property at 1127 Virginia Ln, Concord, CA 94520; 100% occupied with a 5.23% in‑place cap rate and 10.53x GRM; Eight 910‑square‑foot residences, each with 2 bedrooms and 2 bathrooms
