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1506 Garcez Dr 12 Unit Apartment Building $4,955,516 CAD ($412,960 CAD/Unit) 6% Cap Rate Concord, CA 94521
INVESTMENT HIGHLIGHTS
- FANTASTIC CONCORD LOCATION WITHIN WALKING DISTANCE TO SHOPPING & MORE
- STRONG RENTAL HISTORY WITH UPDATED APARTMENT INTERIORS
- MAJOR CAPITAL IMPROVEMENTS - ROOF, WATER RECIRCULATION SYSTEM, WINDOWS, PATIO DOORS, PIPE HYDRO JETTING SYSTEM, WALL FURNACES & MORE...
- INCLUDES CCTV SECURITY CAMERAS AND A MANAGER’S STORAGE SHED FOR ADDED SAFETY AND OPERATIONAL EFFICIENCY
EXECUTIVE SUMMARY
1506 Garcez offers a prime investment opportunity with a turnkey, fully occupied 12-unit apartment building located in the heart of
Concord. Built in 1960, the two-story wood-frame structure features stucco siding with wood trim and sits on a 12,990-squarefoot lot. The building spans 9,548 square feet and includes 12covered and 6 uncovered off-street parking spaces. Additional income is generated through on-site laundry facilities and a utility reimbursement program, with 8 of the 12 tenants contributing an extra $100 per month to offset water and garbage expenses. The property also features CCTV security cameras and a manager’s storage shed.
Well-Maintained Asset with Recent Upgrades
• Major capital improvements include updated flooring, kitchens,
bathrooms, and new appliances.
• Exterior enhancements feature double-pane windows, fresh paint,
and a 30-year foam roof installed within the last 3 years.
• Hydro Jetting Drain System
• Water Saving Recirculating Pump for instant hot water
• Water Heater & New Wall Furnaces
• New Patio Doors for all Apartments
• Remote camera monitoring
• All units are separately metered for gas and electricity.
Concord. Built in 1960, the two-story wood-frame structure features stucco siding with wood trim and sits on a 12,990-squarefoot lot. The building spans 9,548 square feet and includes 12covered and 6 uncovered off-street parking spaces. Additional income is generated through on-site laundry facilities and a utility reimbursement program, with 8 of the 12 tenants contributing an extra $100 per month to offset water and garbage expenses. The property also features CCTV security cameras and a manager’s storage shed.
Well-Maintained Asset with Recent Upgrades
• Major capital improvements include updated flooring, kitchens,
bathrooms, and new appliances.
• Exterior enhancements feature double-pane windows, fresh paint,
and a 30-year foam roof installed within the last 3 years.
• Hydro Jetting Drain System
• Water Saving Recirculating Pump for instant hot water
• Water Heater & New Wall Furnaces
• New Patio Doors for all Apartments
• Remote camera monitoring
• All units are separately metered for gas and electricity.
PROPERTY FACTS
| Price | $4,955,516 CAD | Building Class | C |
| Price Per Unit | $412,960 CAD | Lot Size | 0.30 AC |
| Sale Type | Investment | Building Size | 9,548 SF |
| Cap Rate | 6% | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1960/2024 |
| Property Subtype | Apartment | Parking Ratio | 1.33/1,000 SF |
| Apartment Style | Low-Rise |
| Price | $4,955,516 CAD |
| Price Per Unit | $412,960 CAD |
| Sale Type | Investment |
| Cap Rate | 6% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 9,548 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1960/2024 |
| Parking Ratio | 1.33/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | 650 |
| 2+1 | 10 | - | 800 |
| 2+1.5 | 1 | - | 850 |
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Walk Score®
Very Walkable (79)
PROPERTY TAXES
| Parcel Number | 117-180-003-8 | Improvements Assessment | $1,904,549 CAD |
| Land Assessment | $1,037,145 CAD | Total Assessment | $2,941,694 CAD |
PROPERTY TAXES
Parcel Number
117-180-003-8
Land Assessment
$1,037,145 CAD
Improvements Assessment
$1,904,549 CAD
Total Assessment
$2,941,694 CAD
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1506 Garcez Dr
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