Well-Maintained 20-Unit Apartment
For Sale
$6,005,000
Pending
Chestnut Avenue, Concord, CA 94519
Spacious units, modern amenities, and assumable financing available.
Property Size18,050 SF
Lot Size0.83 Acres
Days on Market465
Property Features for Chestnut Avenue
General Information
Standard status
Pending
Size
18,050 SF
Lot size
0.83 Acres
Property subtype
Commercial
Amenities
Central air
Ceiling Fan(s) Cooling
Building Details
Year Built
1970
Listing Agency:
COMPASS
Listed By:
TONY ZIZZO · License #01962093
(650) 770-8356
Source:
Corcoran
Added: Jul 15, 2025
Changed: Oct 14
Last Checked: Oct 20 at 9:33PM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$286,329
Cap Rate
4.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,726,580
$5.7M
Cap Rate 7%
$4,090,414
$4.1M
Cap Rate 9%
$3,181,433
$3.2M
Market Conditions
NOI Build-Up for 18,050 SF
Gross rent
$548.0K $30.36/SF
− Vacancy
−$27.4K −$1.52/SF
EGI
$520.6K $28.84/SF
− OpEx
−$234.3K −$12.98/SF
NOI
$286.3K $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 Rate 5%
$5,726,580
Cap Rate 7%
$4,090,414
Cap Rate 9%
$3,181,433
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 authorities.
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Location Intelligence
Trade Area within ½ mile
598
Businesses Nearby
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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
Frequently Asked Questions
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.
