2065 Riley CtConcord, CA 94520

Property Details for 2065 Riley Ct

Year built

1986

Construction

WOOD FRAME

Lot size

0.26 AC

Property size (Sq ft)

6,170 SF

Zone code

M1

Property type

Apartment buildings

APN

128-200-061-9

APU

1282000619

Description

This exceptional 10-unit apartment complex in Concord, CA, presents a compelling investment opportunity. Situated on a 0.26-acre lot, the property boasts a total of 6,170 square feet of rentable space. The building comprises four generously sized two-bedroom units and six efficient one-bedroom units, all currently generating significant rental income due to consistently high occupancy. Recent upgrades include a thorough balcony inspection, ensuring the property remains well-maintained and minimizing future maintenance expenses. Each unit features individual gas, water, and electric meters, simplifying tenant billing and utility management. Residents enjoy the convenience of assigned carport parking and additional open parking spaces. The property is enhanced by a secure gated entrance, providing a safe and peaceful living environment within a welcoming community. The strong rental history and consistent cash flow make this a low-risk, high-reward investment. Further potential exists for value enhancement through the addition of a coin-operated laundry facility, catering to tenant needs and increasing revenue streams. Its prime location offers easy access to shopping centers and convenient commuting options, making it highly attractive to renters. Priced at $3,000,000, this property represents a rare chance to acquire a well-established, income-producing asset with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,650,528

  6.5%

  $2,446,641

  7%

  $2,271,881

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,732,333

  Geo Method

  $2,667,356

• Alternative Use

  Use

  Valuation

  Residential

  $2,446,641

  Hospitality

  $2,241,110

  Educational

  $1,864,577

  Medical

  $1,928,703

  Retail

  $2,900,453

Location Insight

City

Concord

County

Contra Costa

State

California

Latitude

37.9615

Longitude

-122.041

CBSA code

41860

CBSA name

SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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