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71-83 Solano Ave
Bay Point, CA 94565
Multifamily Property For Sale
·
15 Units
PROPERTY FACTS
| No. Units | 15 | Building Size | 6,150 SF |
| Property Type | Multifamily | Average Occupancy | 86% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built | 1948 |
| Building Class | C | Parking Ratio | 2.68/1,000 SF |
| Lot Size | 0.66 AC | ||
| Zoning | M-17, County | ||
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.66 AC |
| Building Size | 6,150 SF |
| Average Occupancy | 86% |
| No. Stories | 1 |
| Year Built | 1948 |
| Parking Ratio | 2.68/1,000 SF |
| Zoning | M-17, County |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
SITE AMENITIES
- 24 Hour Access
- Walk-Up
ABOUT 71-83 SOLANO AVE , BAY POINT, CA 94565
Marcus & Millichap is pleased to present 83 Solano Avenue in Bay Point, California. Constructed in 1948, this 15-unit property is comprised of six studio/one-bathroom units and nine one-bedroom/one-bathroom units. The site features a single-level layout and off-street parking. This is a value-add opportunity as the existing rents are low relative to the market; thus a new owner will be afforded the immediate opportunity to increase rents closer to market post-closing. Boosted by the broad-based economic upswing in the Bay Area, East Bay multi-family demand has risen in lockstep with the rest of the region. Continuous job creation and the desire for more affordability have pushed the metro vacancy rate to extremely low levels as tenants migrated eastward. The rising tide of demand has since prompted considerable supply pressures, which are beginning to weigh on top-line vacancy and rent improvement. *****CAP RATE IS PROFORMA
PROPERTY TAXES
| Parcel Number | 096-032-031-5 | Improvements Assessment | $1,813,073 |
| Land Assessment | $1,082,432 | Total Assessment | $2,895,505 |
PROPERTY TAXES
