10-Unit Apartment
For Sale
$2,508,888
2065 Riley Court, Concord, CA 94520
One- and two-bedroom residences feature separate utility meters and assigned carport parking.
Property Size6,170 SF
Price / SF$406.63
Days on Market652
Property Features for 2065 Riley Court
General Information
Standard status
Active
Size
6,170 SF
Total Parking Spaces
10
Property subtype
5+ Units / Five or More Units
Units
Unit Mix
4 x 2BR, 6 x 1BR
Multifamily Units
10
Additional Details
Utilities to Site
Yes
Amenities
secure gate
10
Building Details
Year Built
1986
Buildings
1
Listing Agency:
Realty World Dominion
(510) 852-9898
Listed By:
Gene Au · License #01908058
(510) 852-9898
Source:
Compass
Added: Nov 18, 2024
Changed: Aug 29
Last Checked: Aug 29 at 5:36PM
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 Realty World Dominion
Investment Insights
Based on property information with market context.
This 10-unit apartment property was built in 1986 and includes four two-bedroom residences and six one-bedroom residences across 6,170 square feet. A recent balcony inspection has been completed, and the property includes individual gas, water, and electrical meters for each unit. Parking includes individual carport spaces along with additional spaces for residents and guests.
Access is controlled through a secure gate, and shopping centers are located minutes away. The property has maintained a fully rented status for most of its operating history, providing an established occupancy profile. Its unit mix, separate utility metering, and on-site parking offer a straightforward multifamily configuration.
Access is controlled through a secure gate, and shopping centers are located minutes away. The property has maintained a fully rented status for most of its operating history, providing an established occupancy profile. Its unit mix, separate utility metering, and on-site parking offer a straightforward multifamily configuration.
Key Highlights
- 10‑unit apartment property comprising four two‑bedroom and six one‑bedroom units
- 6,170 square feet; constructed in 1986
- Individual gas, water, and electrical meters for every unit
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
$97,875
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
3.90%
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%
$1,957,500
$2.0M
Cap Rate 7%
$1,398,214
$1.4M
Cap Rate 9%
$1,087,500
$1.1M
Market Conditions
NOI Build-Up for 6,170 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
$187.3K $30.36/SF
− Vacancy
−$9.4K −$1.52/SF
EGI
$178.0K $28.84/SF
− OpEx
−$80.1K −$12.98/SF
NOI
$97.9K $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%
$1,957,500
Cap Rate 7%
$1,398,214
Cap Rate 9%
$1,087,500
Alternative Uses
Best Use
Apartment 5plus
$1.40M
$1.22M – $1.63M
NOI $97,875 @ 7.0% cap · market cap 3.90%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.51M
$1.32M – $1.76M
NOI $105,636 @ 7.0% cap · market cap 4.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,467
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - One- and two-bedroom residences feature separate utility meters and assigned carport parking.
Where is this apartment building located?
The property is located at 2065 Riley Court Concord, CA.
What is the asking price?
The asking price for this property is $2,508,888.
What are key features of this property?
This property features: 10‑unit apartment property comprising four two‑bedroom and six one‑bedroom units; 6,170 square feet; constructed in 1986; Individual gas, water, and electrical meters for every unit
