NO CITY RENT CONTROL | 25-45 W 10th St
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NO CITY RENT CONTROL 25-45 W 10th St
10 Unit Block of Flats £1,838,758 (£183,876/Unit) 6.04% Net Initial Yield Pittsburg, CA 94565
Investment Highlights
- Assumable Financing: Outstanding 8.6% cash-on-cash return with a fixed 3.72% interest-only loan, locked in for the next 8 years.
- Adjacent parking lot included, providing convenience for tenants
- Additional income from on-site laundry facilities
- Great unit mix: 3 bed/1bath, 2 bed/1bath, 1 bed/1bath, and studios
- Separately metered for PG&E, offering efficiency and control
- Proximity to public transportation and major roadways for convenience
Executive Summary
SHOWING: THURSDAY, 11/14 & SATURDAY, 11/16, FROM 12 PM TO 1 PM.
Dayat Commercial Group is pleased to present 25-45 W. 10th Street in Pittsburg, CA. The property is a well maintained three-story building located within minutes to Downtown Pittsburg and the marina. Built in 1948, the 7,574 square foot building boasts a unit mix of three (3) 3 bed/1 bath units, two (2) 2 bed/1 bath units, three (3) 1 bed/1 bath units, and two (2) studios. Current ownership has renovated five units upon turnover, four of which included extensive value add renovations. Renovated units offer hardwood flooring, two-pane vinyl windows, new paint, and charming original features throughout. Some units have beautiful views of the marina in the distance. The sale includes the adjacent parcel which is a 14 stall parking lot for the property. The property is separately metered for PG&E, and the owner pays for water and garbage. In addition to off-street parking, the property also has onsite laundry, and perimeter fencing.
New investors have the opportunity to assume the current financing on the property with a current balance of $1,319,000 at an interest rate of 3.72% with eight years remaining. With this significant reduction from current market interest rates, a new investor can assume the loan and capture a tremendous year 1 cash-on-cash return of 8.6%
Dayat Commercial Group is pleased to present 25-45 W. 10th Street in Pittsburg, CA. The property is a well maintained three-story building located within minutes to Downtown Pittsburg and the marina. Built in 1948, the 7,574 square foot building boasts a unit mix of three (3) 3 bed/1 bath units, two (2) 2 bed/1 bath units, three (3) 1 bed/1 bath units, and two (2) studios. Current ownership has renovated five units upon turnover, four of which included extensive value add renovations. Renovated units offer hardwood flooring, two-pane vinyl windows, new paint, and charming original features throughout. Some units have beautiful views of the marina in the distance. The sale includes the adjacent parcel which is a 14 stall parking lot for the property. The property is separately metered for PG&E, and the owner pays for water and garbage. In addition to off-street parking, the property also has onsite laundry, and perimeter fencing.
New investors have the opportunity to assume the current financing on the property with a current balance of $1,319,000 at an interest rate of 3.72% with eight years remaining. With this significant reduction from current market interest rates, a new investor can assume the loan and capture a tremendous year 1 cash-on-cash return of 8.6%
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | £1,838,758 | Apartment Style | Low Rise |
| Price Per Unit | £183,876 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.29 AC |
| Net Initial Yield | 6.04% | Building Size | 7,574 SF |
| Gross Rent Multiplier | 10.84 | Average Occupancy | 100% |
| No. Units | 10 | Number of Floors | 3 |
| Property Type | Residential | Year Built | 1948 |
| Property Subtype | Apartment | Parking Ratio | 1.85/1,000 SF |
| Price | £1,838,758 |
| Price Per Unit | £183,876 |
| Sale Type | Investment |
| Net Initial Yield | 6.04% |
| Gross Rent Multiplier | 10.84 |
| No. Units | 10 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 7,574 SF |
| Average Occupancy | 100% |
| Number of Floors | 3 |
| Year Built | 1948 |
| Parking Ratio | 1.85/1,000 SF |
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | 520 - 540 |
| 2+1 | 2 | - | 875 |
| 3+1 | 3 | - | 1,065 |
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Walk Score ®
Very Walkable (83)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £1,006,732 | |
| Land Assessment | £556,888 | Total Assessment | £1,563,621 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£556,888
Improvements Assessment
£1,006,732
Total Assessment
£1,563,621
zoning
| Zoning Code | R-3, Pittsburg |
| R-3, Pittsburg |
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Monjid Aldiyyat -
Eric Keena -
Berkshire Hathaway|Drysdale Properties Home Svc
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NO CITY RENT CONTROL | 25-45 W 10th St
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