Property Detail

Description

1127 Virginia Ln is an 8-unit, 100% occupied multifamily asset in Concord priced at $312,500 per unit. In-place rents average $2,472 per month against $2,650 market rent. The deal trades at a 5.23% in-place cap rate (10.53x GRM). The unit mix is uniform: eight 910-square-foot two-bedroom, two-bath residences, most with updated kitchens and/or bathrooms. Built in 1965, the property sits on a 13,939 SF lot with 6,636 square feet of building and 18 surface parking spaces. The property has direct access to Interstate 680 and proximity to HIghway 242, 4 and 24; the Benicia Bridge, connecting tenants to Orinda, Walnut Creek, Danville and the broader Bay Area. Concord BART is a 10-minute drive, putting San Francisco roughly an hour away by transit. Shopping, entertainment, schools and parks are all nearby.