1540 Lacey CtConcord, CA 94520

Property Details for 1540 Lacey Ct

Year built

1961

Construction

WOOD FRAME

Lot size

0.15 AC

Property size (Sq ft)

4,156 SF

Zone code

M1

Property type

Apartment buildings

APN

128-280-022-4

APU

1282800224

Description

This exceptional 6-unit apartment building, located at 1540 Lacey Ct in Concord, California (APN 1282800224), presents a compelling investment opportunity. The property boasts a total of 4,150 square feet, spread across two stories in a single building constructed in 1961 and renovated in 2010. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $72,500, translating to a 5.47% capitalization rate. A pro-forma NOI of $88,000 projects a 6.64% capitalization rate, indicating significant upside potential. Each of the six units offers substantial value at an asking price of $220,833 per unit. The property benefits from on-site parking and laundry facilities, attracting longer-term tenants. All Section 1 work has been completed, ensuring the property's compliance and minimizing future maintenance concerns. The building's location in a quiet cul-de-sac adds to its appeal. The current below-market rents present a further opportunity to increase profitability. This property is being offered as a 1031 exchange opportunity, making it an attractive option for investors seeking tax-advantaged transactions. The asking price for this well-maintained, high-performing multifamily property is $1,325,000. This is a rare chance to acquire a stable, income-producing asset in a desirable Concord location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,786,582

  6.5%

  $1,649,153

  7%

  $1,531,356

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,841,092

  Geo Method

  $1,796,682

• Alternative Use

  Use

  Valuation

  Residential

  $1,649,153

  Hospitality

  $1,510,615

  Educational

  $1,256,814

  Medical

  $1,300,038

  Retail

  $1,955,044

Location Insight

City

Concord

County

Contra Costa

State

California

Latitude

37.9535

Longitude

-122.044

CBSA code

41860

CBSA name

SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].