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    Well-Maintained 20-Unit Apartment Complex Title is generated by Realmo AI

    Chestnut Avenue, Concord, CA 94519

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    Claim this Listing
    For Sale
    $6,005,000

    Spacious units, modern amenities, and assumable financing available.

    Type:Commercial
    Property size:
    18,050 SF
    Lot size:
    0.83 Acres
    Price / SF:
    $332/SF
    Added:
    Jul 15, 2025
    Days on Market:
    329
    Last Refresh:
    Apr 5 at 8:16 pm

    Property Features for Chestnut Avenue

    General Information

    Standard status
    Active
    Size
    18,050 SF
    Lot size
    0.83 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1970

    We can help!

    Listing Contact
    TONY ZIZZO

    Listing agent TONY ZIZZO License #01962093

    Listing office COMPASS

    Listing date Jul 15, 2025

    Source Corcoran

    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

    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.
    • Desirable mix of unit types including 3‑bedroom and 2‑bedroom units.
    • Amenities include a swimming pool, covered patio, common area, and on‑site laundry facility.
    • Secure, gated community with keyless entry and abundant parking (covered and rentable).

    Overview

    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.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Concord
    County
    Contra Costa
    State
    California
    Longitude
    -122.006
    Latitude
    37.9718

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    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.
    (415) 345-3000
    We can help!
    Listing Contact
    TONY ZIZZO
    Real Estate License ID: 01962093
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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