1540 Lacey Ct Concord, CA 94520-4280

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.