41-Unit Apartment
For Sale
$2,050,000
3550 Chestnut Avenue, Concord, CA 94519
Four apartment communities offer a 41-unit multifamily portfolio across San Mateo and Contra Costa Counties.
Property Size5,280 SF
Price / SF$388.26
Days on Market49
Property Features for 3550 Chestnut Avenue
General Information
Standard status
Active
Size
5,280 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
41
Building Details
Year Built
1979
Listing Agency:
Colliers International
Listed By:
Readdress
(415) 275-0229
Source:
Readdress
Added: Aug 26
Changed: Oct 13
Last Checked: Oct 12 at 8:08PM
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.
This apartment portfolio includes four communities totaling 41 units in Millbrae, Redwood City, Martinez, and Concord. Individual properties range from 8 to 15 units, with the Concord asset located at 3550 Chestnut Avenue and built in 1979. The offering can be acquired as a complete portfolio, by county-based sub-portfolio, or as individual properties.
The San Mateo County group contains 25 units across Millbrae and Redwood City, while the Contra Costa County group includes 16 units in Martinez and Concord. The Peninsula properties include a Millbrae community near the Millbrae Intermodal Station and a Redwood City property with average unit floorplans of approximately 1,160 square feet. In-place rents at those two assets are reported at 10.54% and 10.34% below market, respectively. Go-to-market cap rates are 4.94% for the San Mateo County sub-portfolio and 5.26% for the Contra Costa County sub-portfolio.
The San Mateo County group contains 25 units across Millbrae and Redwood City, while the Contra Costa County group includes 16 units in Martinez and Concord. The Peninsula properties include a Millbrae community near the Millbrae Intermodal Station and a Redwood City property with average unit floorplans of approximately 1,160 square feet. In-place rents at those two assets are reported at 10.54% and 10.34% below market, respectively. Go-to-market cap rates are 4.94% for the San Mateo County sub-portfolio and 5.26% for the Contra Costa County sub-portfolio.
Key Highlights
- Four apartment communities totaling 41 units across Millbrae, Redwood City, Martinez, and Concord
- Individual assets range from 8 to 15 units
- Offering available as a complete portfolio, sub‑portfolios, or individual properties
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,757
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,675,140
$1.7M
Cap Rate 7%
$1,196,529
$1.2M
Cap Rate 9%
$930,633
$930.6K
Market Conditions
NOI Build-Up for 5,280 SF
Gross rent
$160.3K $30.36/SF
− Vacancy
−$8.0K −$1.52/SF
EGI
$152.3K $28.84/SF
− OpEx
−$68.5K −$12.98/SF
NOI
$83.8K $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 Rate 5%
$1,675,140
Cap Rate 7%
$1,196,529
Cap Rate 9%
$930,633
Alternative Uses
Best Use
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $83,757 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.29M
$1.13M – $1.51M
NOI $90,398 @ 7.0% cap · market cap 4.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
41
Residential units
Location Intelligence
Trade Area within ½ mile
642
Businesses Nearby
Explore this area
Business Placement
Demographics for 94519, CA
18,677
Population
7,427
Households
2.5
Avg Household Size
40
Median Age
28%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
4,150
Density / Sq Mi
$123,366
Median Household Income
$58,873
Median Earnings
$2,340
Median Rent
$727,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Four apartment communities offer a 41-unit multifamily portfolio across San Mateo and Contra Costa Counties.
Where is this apartment building located?
The property is located at 3550 Chestnut Avenue Concord, CA.
What is the asking price?
The asking price for this property is $2,050,000.
What are key features of this property?
This property features: Four apartment communities totaling 41 units across Millbrae, Redwood City, Martinez, and Concord; Individual assets range from 8 to 15 units; Offering available as a complete portfolio, sub‑portfolios, or individual properties
