1540 Lacey Ct Concord, CA 94520-4280

Property Details for 1540 Lacey Ct

Year built

1961

Construction

WOOD FRAME

Lot size

0.15 lot acres

Property size

4,156 SF

Zone code

M1

Property type

Apartment buildings

APN

128-280-022-4

APU

1282800224

Description

This exceptional 6-unit apartment building, located at 1540 Lacey Ct in Concord, California (APN 1282800224), presents a compelling investment opportunity. The property boasts a total of 4,150 square feet, spread across two stories in a single building constructed in 1961 and renovated in 2010. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $72,500, translating to a 5.47% capitalization rate. A pro-forma NOI of $88,000 projects a 6.64% capitalization rate, indicating significant upside potential. Each of the six units offers substantial value at an asking price of $220,833 per unit. The property benefits from on-site parking and laundry facilities, attracting longer-term tenants. All Section 1 work has been completed, ensuring the property's compliance and minimizing future maintenance concerns. The building's location in a quiet cul-de-sac adds to its appeal. The current below-market rents present a further opportunity to increase profitability. This property is being offered as a 1031 exchange opportunity, making it an attractive option for investors seeking tax-advantaged transactions. The asking price for this well-maintained, high-performing multifamily property is $1,325,000. This is a rare chance to acquire a stable, income-producing asset in a desirable Concord location.

Location Insight

City

Concord

County

Contra Costa

State

California

Longitude

-122.044

Latitude

37.9535

CBSA code

41860

CBSA name

SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments