2001 Broadway Avenue, San Pablo, CA 94806
List Price: $4.25M
Listing Status: Active
0Days on Market: 0
0 Bedrooms · 0 Bathrooms
Property Type: CommercialSale
Year Built: 1993
Lot Size: 30,675 sq ft
Annual Property Tax: $61,771
MLS Number: ML82056742
About This Property
Casa Linda Apartments is a rare 1993-built 24-unit multifamily in San Pablo, offered at $4,250,000 ($177,083/unit, $227/SF). Newer construction delivers institutional-quality infrastructure rare for the vintage: a full building fire-sprinkler system, elevator access, all-interior staircases and walkways, and a fully hardwired security camera system. All 24 units are 1BD/1BA with private outdoor space (patio, balcony, or yard). A large gated surface lot serves the property (no tuck-under parking). A ground-floor amenity room offers flexible tenant use or ADU-conversion potential. Priced at an attractive 7.0% current cap rate with strong value-add upside to an 8.67% market cap; GRM of 8.17 current / 7.03 market. Current monthly scheduled rent of $43,329 ($519,948/yr) grows to $50,400 ($604,800/yr) at market. NOI upside comes from light repositioning (paint, landscaping, community-room renovation), rent optimization, RUBS billing, and expanded laundry income. In western Contra Costa County with I-80/I-580 access and proximity to BART, AC Transit, and Amtrak. Strong East Bay rental demand, a housing shortage, proximity to major employers, and significant value-add and ADU potential make 2001 Broadway Avenue a great opportunity for both the cash flow and appreciation-minded investor.
Listing provided by: Ismael Benhamida DRE #01722847 (415) 345-3000 ismael@benhamidagroup.com, Compass
Source: CRMLS, MLS #: ML82056742