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Buchanan Gardens 1600 Buchanan Rd 34 Unit Apartment Building $6,450,000 ($189,706/Unit) 6.77% Cap Rate Antioch, CA 94509
Investment Highlights
- 6.77% In Place Cap Rate
- Highly Desirable Unit Mix Comprised Exclusively of Two-Bedroom Units
- RUBS Implemented
- Situated Within a Two-Mile Radius of Over 500K Sq. Ft. of Retail
- $450K+ in Completed Capital Expenditures, Including SB721 Repairs
- Private Patios / Balconies in Over 70% of Units
Executive Summary
Buchanan Gardens is a 34-unit apartment community located at 1600 Buchanan Road in Antioch, California. Ideally positioned to offer residents a convenient living experience, the property is situated within a two-mile radius of over 500,000 square feet of established retail hubs, including major anchors such as Target, Costco, Lowe’s, and Maya Cinemas. This central location further benefits from proximity to essential economic and recreational drivers, situated less than one mile from the Kaiser Permanente Delta Fair Medical offices and five minutes from a plethora of scenic trails found at the Black Diamond Mines Regional Preserve.
Property Facts
| Price | $6,450,000 | Building Class | C |
| Price Per Unit | $189,706 | Lot Size | 1.46 AC |
| Sale Type | Investment | Building Size | 28,556 SF |
| Cap Rate | 6.77% | Average Occupancy | 97% |
| Gross Rent Multiplier | 7.72 | No. Stories | 2 |
| No. Units | 34 | Year Built | 1976 |
| Property Type | Multifamily | Parking Ratio | 1.72/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Garden | ||
| Zoning | R20 | ||
| Price | $6,450,000 |
| Price Per Unit | $189,706 |
| Sale Type | Investment |
| Cap Rate | 6.77% |
| Gross Rent Multiplier | 7.72 |
| No. Units | 34 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.46 AC |
| Building Size | 28,556 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1976 |
| Parking Ratio | 1.72/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R20 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Heating
Site Amenities
- Laundry Facilities
- Picnic Area
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 34 | - | 750 |
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Property Taxes
| Parcel Number | 076-440-004-0 | Improvements Assessment | $1,175,798 |
| Land Assessment | $671,878 | Total Assessment | $1,847,676 |
Property Taxes
Parcel Number
076-440-004-0
Land Assessment
$671,878
Improvements Assessment
$1,175,798
Total Assessment
$1,847,676
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Buchanan Gardens | 1600 Buchanan Rd
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