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Fully Remodeled Antioch Fourplex 22 S Lake Dr 4 Unit Apartment Building $1,250,000 ($312,500/Unit) 5.16% Cap Rate Antioch, CA 94509
INVESTMENT HIGHLIGHTS
- 4-Unit Apartment Complex Offering Four Large 2bd/1bth Units with Strong Current Income and Excellent Upside
- Easy to Manage, Low Maintenance Property, with Upgraded Electrical, Plumbing, and a Newer Roof
- Separately Metered for PG&E with Low Annual Operating Expenses and No Deferred Maintenance
- Remodeled Units with Newer Kitchens & Bathrooms, Wood Flooring, Newer Paint, and Double Pane Windows
- High-Demand Antioch Rental Location Across from Lake Alhambra Near Many Restaurants and Shopping Options
- One Unit can be Delivered Vacant at Closing - Perfect For Owner-Occupant
EXECUTIVE SUMMARY
Large 4-unit apartment complex with excellent current income and an unbeatable Antioch rental location. The unit mix offers four 2bd/1bth units with up to eight off-street
parking spaces. The property was originally built in 1968, offers approximately 3,300 square feet of rental space, and sits on a 6,860 square foot lot. The property is easy to
manage with low operating expenses with tenants paying all gas and electric expense. The units are fully remodeled with newer kitchens, bathrooms, new flooring, double pane windows, upgraded electric meters, new paint, and more. The exterior and interior are in great condition with no deferred maintenance resulting in an attractive turn-key investment for the next owner. Currently, the property the property is 100% occupied with great tenants, however one unit can be delivered vacant at closing for an owner-occupant. This is an ideal Antioch rental location next to lake Alhambra. There are numerous restaurants, coffee shops, and shopping options nearby and relatively close to the Antioch BART station.
****EMAIL DAVID@PINZAGROUP.COM FOR A COMPLETE MARKETING PACKAGE.
parking spaces. The property was originally built in 1968, offers approximately 3,300 square feet of rental space, and sits on a 6,860 square foot lot. The property is easy to
manage with low operating expenses with tenants paying all gas and electric expense. The units are fully remodeled with newer kitchens, bathrooms, new flooring, double pane windows, upgraded electric meters, new paint, and more. The exterior and interior are in great condition with no deferred maintenance resulting in an attractive turn-key investment for the next owner. Currently, the property the property is 100% occupied with great tenants, however one unit can be delivered vacant at closing for an owner-occupant. This is an ideal Antioch rental location next to lake Alhambra. There are numerous restaurants, coffee shops, and shopping options nearby and relatively close to the Antioch BART station.
****EMAIL DAVID@PINZAGROUP.COM FOR A COMPLETE MARKETING PACKAGE.
PROPERTY FACTS
| Price | $1,250,000 | Apartment Style | Low-Rise |
| Price Per Unit | $312,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 5.16% | Building Size | 3,300 SF |
| Gross Rent Multiplier | 13.24 | Average Occupancy | 95% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1968 |
| Property Subtype | Apartment | Parking Ratio | 2.42/1,000 SF |
| Zoning | R2, Antioch | ||
| Price | $1,250,000 |
| Price Per Unit | $312,500 |
| Sale Type | Investment |
| Cap Rate | 5.16% |
| Gross Rent Multiplier | 13.24 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 3,300 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1968 |
| Parking Ratio | 2.42/1,000 SF |
| Zoning | R2, Antioch |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 065-235-004-2 | Improvements Assessment | $215,170 |
| Land Assessment | $122,947 | Total Assessment | $338,117 |
PROPERTY TAXES
Parcel Number
065-235-004-2
Land Assessment
$122,947
Improvements Assessment
$215,170
Total Assessment
$338,117
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Fully Remodeled Antioch Fourplex | 22 S Lake Dr
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