San Marco Apartments 1327 Montego 3 Unit Apartment Building $1,795,000 ($598,333/Unit) 4% Cap Rate Walnut Creek, CA 94598

San Marco Apartments, located at 1327 Montego, Walnut Creek, is an immaculate, well-located, multi-family property that has been carefully maintained and has now been brought to market for the first time in a decade. It represents a rare opportunity to own property in one of the Bay Area’s most desirable locations — Walnut Creek. The property is close to BART, shopping, cafes, and coffee shops in Downtown Walnut Creek as well as highly rated schools. The property is also close to Highways I-680 and 24 and provides access to recreational facilities such as Heather Farm Park/Pool, Civic Park, and Shell Ridge Open Space.
The two-story property features uncommon construction details that include concrete slab foundations, low maintenance stucco exteriors, pitched tile and flat roofs, carports, individual water heaters, washer/dryer units, fireplaces, patios and separate meters for gas and electricity. The property has well-designed floor plans and a mix of easy to rent units:
(3) 2BR / 1.5BA of 1,137 s.f. +/-
One of the most unique and rare features of the property is the fact that it is part of the San Marco Apartment complex, so the residents have access to the sparkling pool and beautiful grounds. The owner’s association is responsible for all common area maintenance including landscaping, driveways and parking lots, carports, pool, laundry building, and sidewalks. For an additional fee, property management is available as well.
The units have been updated in the past several years including new flooring, updated cabinetry and vanities, granite counters, appliances, window coverings, moldings, bathrooms, doors and fixtures. The units present extremely well and have proven easy to rent.
PROPERTY DETAILS
ADDRESS - 1327 Montego, Units 73,74 & 75. Walnut Creek, CA 94598
LAUNDRY - Washer/dryer units provided by owner.
SIDING - Stucco
ASSESSOR’S PARCEL NUMBER - 140-350-020-8
BUILDING SQ. FEET - 3,412+/- s.f. (per Contra Costa County)
APPROXIMATE LAND - 2,861+/- s.f. (per Contra Costa County)
YEAR BUILT - 1969+/- (per Contra Costa County)
PARKING - Carports
PG&E - Separately metered, paid by residents
WATER - Separately metered, paid by HOA [convert to resident reimbursement]
TRASH - Paid by HOA [convert to resident reimbursement]
FOUNDATION - Concrete slab
ROOF - Pitched tile and flat tar & gravel
HVAC - Central heating and air conditioning