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Listed by Richard Mao • Promax Investment & Develop
$2,348,000
Est. payment /mo
Price Dropped by $151K
Pittsburg, CA 94565
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 01-41118960
Year Built 1963
Annual Tax Amount $16,496
Source California Regional Multiple Listing Service (CRMLS)
Property Description
A Fully occupied value added investment opportunity with about 4.5% annual rent and NNN increasing every year. 8% actual cap rate. Very stable tenant base, all of units are occupied by service type tenants. Current actual Annual income is $226,000, with very low maintenance cost. Building was remodeled in 2013 and 2016, the roof and HVAC units were replaced when the building was remodeled. Tenants are responsible for all interior maintenance, repair and replacement including HVAC, store front glass. On the very busy major street, close to shopping, BART, freeway, schools, , inside city business district, next to residential neighborhood. APN/Tax ID: 088-072-068-5 Year Built: 1963, remodeled: 2013 and 2016 Lot Square Feet: 22463.79 sf Building Square Feet: 5950 sf Parking: 26 spaces onsite, more than 4 spaces per unit The vacant lot behind the parking lot is also for sale, zone for neighborhood commercial/high density residential, it may build up to 45 units (for the detail, please confirm with city). It gives the new owner the opportunities to expand or develop.
Location
State CA
County Contra Costa
Zoning nc
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