45 W 10th St, Pittsburg, CA 94565

$1,848,000
List Price
$1,848,000
Status
ACTIVE
MLS#
40855208
Days on Market
19
Year Built
1948
Property Type
Apt Complex
Ownership Type
1
Lot Size
6,098
Acres
0.14
County
Contra Costa
Area
Pittsburg

Property Description

Wonderful 10 Unit Apartment located near historic downtown Pittsburg and the Marina. Walk to downtown restaurants, parks, school and marina. A 15 minute Walk to Pittsburg Bart at Civic Center. Some downtown restaurants include the Mecca, CreAsians etc. Good unit mix. Some units have beautiful views of the marina in a distance. Solid tenant base with good tenants. Most rents are below market. Very Good upside. Easy access to highway 4. Sale includes a vacant separately parceled lot at 25 W10th St, Pittsburg. It is an adjacent vacant lot of 14 car park spaces totaling another 6250 sq ft. APN 085-201-005-7. Taken together, the total lot size is 12,500 sq. ft. Walk score of 60 and Bike score of 61. Most rents are below market. Actual gross income is $167,617. Pro Forma gross income is $204,937. Laundry income. Great cash flow. Cap rate at asking price is 6.98% actual and 8.20% pro forma. Good upside. No rent control in Pittsburg. Good tenants!

Additional Information

Basement
Separate Entry, Storage Area
Exterior
Stucco
Lot Description
Level, Regular
Price Per Square Foot
244
Roof
Tar and Gravel
View
Delta, Downtown, Park, Partial

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Calculator source: Real Geeks

Listing courtesy of Platinum Realty & Invstmnts.