720 Shell Ave | Martinez, CA 94553
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- LoopNet Team
720 Shell Ave
Martinez, CA 94553
Cascara Canyon · Multifamily Property For Sale
·
51 Units
INVESTMENT HIGHLIGHTS
- Completed in 2014, Cascara Canyon is the first apartment project built in Martinez in over 25 years.
- The buyer will be assuming an attractive non-recourse loan, amortizing on a 35 year schedule, having a blended interest rate of 4.535%, and a loan bal
- The Property offers excellent access to the North Concord / Martinez BART Station, Highway 4, and Interstate I680 and is well positioned for commuters
- The Property is within walking distance of Alhambra High School and less than a mile from historic downtown Martinez.
- Significant barriers-to-entry, limited supply of future products coming online, escalating construction costs, and a lengthy entitlement process sets
- The Property consists of (2) three-story buildings each with tuck under / direct access parking with an optimized unit mix of oneand two-bedroom units
PROPERTY FACTS
| No. Units | 51 | Building Size | 21,339 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 2014 |
| Building Class | A | Parking Ratio | 1.51/1,000 SF |
| Lot Size | 1.61 AC | ||
| Zoning | R-1.5 - Multi-Family Residential: 1,500 sq. ft. per dwelling unit. | ||
| No. Units | 51 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | A |
| Lot Size | 1.61 AC |
| Building Size | 21,339 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built | 2014 |
| Parking Ratio | 1.51/1,000 SF |
| Zoning | R-1.5 - Multi-Family Residential: 1,500 sq. ft. per dwelling unit. |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Granite Countertops
- Refrigerator
- Stainless Steel Appliances
- Carpet
SITE AMENITIES
- Fitness Center
- Picnic Area
- Pool
- Property Manager on Site
- Recycling
- Maintenance on site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 30 | $2,150 | - |
| 2+2 | 21 | $2,650 | - |
PROPERTY TAXES
| Parcel Number | 376-010-016-8 | Improvements Assessment | $10,612,080 |
| Land Assessment | $5,306,040 | Total Assessment | $15,918,120 |
PROPERTY TAXES
Parcel Number
376-010-016-8
Land Assessment
$5,306,040
Improvements Assessment
$10,612,080
Total Assessment
$15,918,120
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