14-Unit Renovated Apartment
For Sale
$3,770,000
2093 Mt Diablo Street, Concord, CA 94520
Concord multifamily asset with updated interiors and a studio floor plan.
Property Size7,896 SF
Price / SF$477.46
Days on Market315
Property Features for 2093 Mt Diablo Street
General Information
Standard status
Active
Size
7,896 SF
Total Parking Spaces
14
Property subtype
5+ Units / Five or More Units
Net Operating Income
$203,879
Taxes and HOA fees
Annual Taxes
$55,045
Building Details
Year Built
1961
Listing Agency:
Colliers International
(925) 279-4614
Listed By:
Richard Martini · License #01505297
(925) 279-4614
Source:
Compass
Added: Oct 21, 2025
Changed: Aug 31
Last Checked: Aug 30 at 8:17PM
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 Colliers International
Investment Insights
Based on property information with market context.
The property includes 14 apartment units within a 7,896-square-foot building constructed in 1961. The unit mix comprises thirteen one-bedroom, one-bath residences and one studio. Interior updates include granite or quartz counters, shaker cabinets, laminate flooring, refreshed bathroom vanities, tiled shower and tub surrounds, and new lighting. Utility reimbursement income is also in place.
Located at 2093 Mt Diablo Street in Concord, the property is a 13-minute walk from BART and near Todos Santos Plaza. The surrounding downtown setting carries a 98 Walk Score. An assumable fixed-rate loan may be available at 3.36% through 11/28, subject to applicable terms and approval.
Located at 2093 Mt Diablo Street in Concord, the property is a 13-minute walk from BART and near Todos Santos Plaza. The surrounding downtown setting carries a 98 Walk Score. An assumable fixed-rate loan may be available at 3.36% through 11/28, subject to applicable terms and approval.
Key Highlights
- 14‑unit apartment property with thirteen 1 bed/1 bath units and one studio
- 7,896‑square‑foot building constructed in 1961
- Unit interiors updated with granite/quartz counters, shaker cabinets, laminate flooring, and refreshed baths
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
$125,255
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
3.32%
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%
$2,505,100
$2.5M
Cap Rate 7%
$1,789,357
$1.8M
Cap Rate 9%
$1,391,722
$1.4M
Market Conditions
NOI Build-Up for 7,896 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
$239.7K $30.36/SF
− Vacancy
−$12.0K −$1.52/SF
EGI
$227.7K $28.84/SF
− OpEx
−$102.5K −$12.98/SF
NOI
$125.3K $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%
$2,505,100
Cap Rate 7%
$1,789,357
Cap Rate 9%
$1,391,722
Alternative Uses
Best Use
Apartment 5plus
$1.79M
$1.57M – $2.09M
NOI $125,255 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.93M
$1.69M – $2.25M
NOI $135,186 @ 7.0% cap · market cap 3.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,889
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 - Concord multifamily asset with updated interiors and a studio floor plan.
Where is this apartment building located?
The property is located at 2093 Mt Diablo Street Concord, CA.
What is the asking price?
The asking price for this property is $3,770,000.
What are key features of this property?
This property features: 14‑unit apartment property with thirteen 1 bed/1 bath units and one studio; 7,896‑square‑foot building constructed in 1961; Unit interiors updated with granite/quartz counters, shaker cabinets, laminate flooring, and refreshed baths
