177 El Dorado Dr
Pittsburg, CA 94565
El Dorado Place · Multifamily Property For Sale · 13 Units

Berger Mandel associates of NAI Northern California is proud to have been selected as the exclusive listing agent for El Dorado Place in Pittsburg. 177 El Dorado Drive is a well-maintained 13-unit property in one of the best locations in the city.  El Dorado Place has been meticulously maintained and updated over the past 29 years of the current ownership. Recent capital improvement projects include installation of dual pane vinyl windows; resurfacing of the driveways and parking lot; installation of wrought iron fencing and hand rails; and roof and gutter replacement. The interiors of the units have been consistently updated with laminate wood flooring throughout the living areas, tile flooring in the kitchens, and resurfacing and replacement of kitchen and bathroom cabinetry.  The building features a mix of one 2-bedroom, 1-bathroom unit, 11 1-bedroom, 1-bathroom units, and one studio. There are on-site coin operated laundry facilities (with washers and dryers included in the sale), individual metering of all of the units for PG&E, individual water heaters for each unit, gas wall heaters, wall A/C units, and one open assigned parking stall per unit.  Attentive management has created very stable income with solid in-place rents and limited turnover. With rental increases allowed under AB 1482, new owners will be able to increase cash flow nearly 40% by 2021. The property is located in an ideal Pittsburg location just off of Railroad Avenue,  surrounded almost entirely by single-family homes but still boasting a Walk Score of 76, which means that most errands can be accomplished on foot. The local elementary and junior high schools and a number of national retailers including CVS, Walgreens, Starbucks, McDonalds, Bank of America, Foods Co., and Ace Hardware are all within easy walking distance of the property. Tenants also enjoy multiple commuting options: the new Pittsburg E-BART station, and Highway 4 on- and off-ramps are less than a mile away, and Kikker Pass Road provides direct access to Clayton and Concord.