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1130 Virginia Ln
Concord, CA 94520
Virginia Lane Flats · Multifamily Property For Sale
·
12 Units
Property Facts
| No. Units | 12 | Building Size | 9,300 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built | 1958 |
| Building Class | C | Parking Ratio | 1.1/1,000 SF |
| Lot Size | 0.43 AC | ||
| Zoning | M1, Concord | ||
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 9,300 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1958 |
| Parking Ratio | 1.1/1,000 SF |
| Zoning | M1, Concord |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Storage Space
- Heating
- Vaulted Ceiling
- Range
- Yard
- Window Coverings
Site Amenities
- Laundry Facilities
About 1130 VIRGINIA LN , CONCORD, CA 94520
Marcus & Millichap are proud to present a great investment opportunity for a new or seasoned investor into a Concord neighborhood that has been seeing significantly rising rents and an improving tenant base. The Virginia Lane Flats is a unique, well-maintained property showing pride of ownership with near-market-rate rents. It consists of two separate buildings housing a total of 6 units each for a total of 12 units. Each building has two upper (2) units situated over six (6) tuck under parking spaces, and four (4) single-story attached cottage-style units with individual yards. Altogether, the property consists of four (4) upper units, and eight (8) ground units. The buildings are wood framing on concrete pads, with primarily stucco siding and pitched tar and gravel roofs. Each unit is separately metered for gas and electric paid by the tenant. There are two uncovered off-street parking spaces in addition to the 12 covered spaces. All units have similar two (2) bedroom, one (1) bath floor plans. The lower units have separately fenced-in yards which is a nice amenity that commands higher rents. All units have no neighbors above or below affording them greater privacy and allows for peaked ceilings with exposed beans contributing to the spaciousness of the units. All the units have newer flooring with tile, linoleum, and wood laminate in the downstairs units and linoleum and wood laminate upstairs. All the bathrooms have been redone and 4 units have updated kitchens with new lower cabinets and granite countertops. The tenants enjoy a number of amenities that include 12 separate, secure storage spaces, one per unit; a separate laundry facility with a coin-operated washer and dryer; covered parking; and fenced in yards (lower units). This property has an excellent location near shopping, dining, grocery stores, and public transit bus stops on Monument Boulevard. The Bay Area Rapid Transit (BART), Highway 242, and Interstate 680 are 5 minutes by car. Over the past few years, the surrounding neighborhood has seen substantial investments into upgraded apartment buildings leading to stronger demographics, increased demand, and higher rents.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | - | 775 |
Property Taxes
| Parcel Number | 128-300-015-4 | Improvements Assessment | $2,016,295 |
| Land Assessment | $1,273,449 | Total Assessment | $3,289,744 |
Property Taxes
