Well-Maintained 20-Unit Apartment
Chestnut Avenue Concord, CA 94519
For Sale
$6,005,000
Pending
Spacious units, modern amenities, and assumable financing available.
Property Size18,050 SF
Lot Size0.83 Acres
Days on Market374
Property Features for Chestnut Avenue
General Information
- Standard status
- Pending
- Size
- 18,050 SF
- Lot size
- 0.83 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1970
Listing Agency:
COMPASS
(415) 345-3000
Listed By:
TONY ZIZZO · License #01962093
Source:
Corcoran
Added: Jul 15, 2025
Changed: Jul 6
Last Checked: Jul 23 at 7:44AM
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 COMPASS
Investment Insights
Based on property information with market context.
This well-maintained property, situated on a 0.83-acre lot, comprises three buildings with a total of 20 rental units. The unit mix includes one three-bedroom, one-and-a-half-bath unit; one two-bedroom, one-and-a-half-bath unit; and eighteen two-bedroom, one-bath units. Sixteen of the twenty residences have been extensively renovated with new cabinets and countertops, updated vanities, and luxury plank vinyl flooring. Each unit features dishwashers, garbage disposals, air conditioning, and a private outdoor patio or balcony. The property provides 18,050 square feet of living space, complemented by landscaping and a tranquil atmosphere. A swimming pool is located at the heart of the community. Additional amenities include a covered patio, a common area, and an on-site laundry facility with four owned washers and dryers. Parking includes one covered space per unit, along with eight additional rentable spaces. The community is secured by an iron gate with keyless entry access. Assumable financing is available at 5.40% until 2029. The management fee includes property management plus an on-site manager credit of $1,400 per month.
Key Highlights
- Assumable financing available at 5.40% until 2029.
- Expansive 0.83‑acre lot with three buildings encompassing 20 rental units.
- Sixteen of twenty units extensively renovated with new cabinets, countertops, vanities, and LPV flooring.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $548.0k | $30.36 |
| − Vacancy | −$27.4k | −$1.52 |
| EGI | $520.6k | $28.84 |
| − OpEx | −$234.3k | −$12.98 |
| NOI | $286.3k | $15.86 |
18,050 SF · lease $30.36/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.09M
$3.58M – $4.77M
NOI $286,329 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$4.41M
$3.86M – $5.15M
NOI $309,032 @ 7.0% cap · market cap 5.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Spacious units, modern amenities, and assumable financing available.
Where is this apartment building located?
The property is located at Chestnut Avenue Concord, CA.
What is the asking price?
The asking price for this property is $6,005,000.
What are key features of this property?
This property features: Assumable financing available at 5.40% until 2029.; Expansive 0.83‑acre lot with three buildings encompassing 20 rental units.; Sixteen of twenty units extensively renovated with new cabinets, countertops, vanities, and LPV flooring.
