1973 Jacqueline Way, Concord, CA 94519

Description

1973 Jacqueline Way is a two-story, five-unit apartment building on a cul-de-sac in Concord, offered at $1,295,000 ($259,000 per unit, $310 per square foot). Built in 1968, the property totals 4,176 rentable square feet on an 8,955 square foot lot zoned RM. The unit mix is four 2-bedroom, 1-bath units and one 3-bedroom, 1-bath unit, all currently occupied. In-place rents average $1,857 per month against pro forma market rents averaging $2,560, so market rents sit roughly 38% above current rents. The property delivers a 5.41% cap rate and 11.15 GRM on current income, rising to an 8.61% cap rate and 8.00 GRM at pro forma, making this a value-add opportunity with immediate cash flow. Gas and electric are separately metered and paid by the tenants, with water master metered and trash owner paid. Site amenities include carport parking at one space per unit, an unused garage, and on-site laundry. The location offers easy access to the freeway system and downtown Concord. Concord BART, John Muir Medical Center Concord and Todos Santos Plaza are all about 1.2 to 1.3 miles away, with Sun Valley Mall and Diablo Valley College within about 3.5 miles.