The Gardens 2093 Mount Diablo St 14 Unit Apartment Building $5,262,619 CAD ($375,901 CAD/Unit) 5.41% Cap Rate Concord, CA 94520

Colliers has been retained as Exclusive Advisor for the sale of The Gardens, a fully renovated and stabilized 14-unit multifamily property located at 2093 Mt. Diablo Street in Concord, CA. The offering provides investors a rare opportunity to acquire a turn-key asset generating over $26,000 in monthly rental income as well as additional RUBS income in one of Concord’s premier locations, just steps from Todos Santos Plaza and the vibrant Downtown Concord retail and dining scene. The property, with an amazing Walk Score of 98 is walkable to all downtown attractions and is ideally located less than a half mile from the main Concord BART station and minutes from SR-242 and I-680, providing residents with unparalleled access to major employment centers throughout the East Bay and beyond. Professionally managed and maintained, The Gardens features a unit mix of thirteen 1-bedroom, 1-bathroom units, and one studio unit, along with the possibility of assuming below market rate financing. This is an exceptional investment opportunity in one of the East Bay’s most sought-after apartment submarkets.
All interiors were substantially renovated in the 2017/18 timeframe, and include updated shaker style kitchen cabinets, granite/quartz countertops, white appliances, laminate flooring, updated bath vanities, tile shower/tub surrounds, baseboard molding and new lighting throughout. The spacious floor plans incorporate ample kitchen cabinet storage with an adjacent area suitable for a small table and chairs. Kitchen appliances, including the stove/oven are gas, while heat is provided by gas wall furnaces.
Significant exterior capital improvements have been completed, including a new roof in 2017, exterior stucco replacement, new second story railings with decorative wood slat siding, updated lighting, wrought iron security fencing and new monument signage. Parking is available for 14 cars immediately behind the property through a long-term Right of Way Agreement with the City of Concord.
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