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Built in 2014 & Assumable Financing 720 Shell Ave 42 Unit Apartment Building $16,295,000 ($387,976/Unit) 5.46% Cap Rate Martinez, CA 94553
Investment Highlights
- Rare Opportunity: Two Assumable Life Insurance Loans w/ 35-Year Amortization, Maturing August 2050, Blended Rate of 4.65%
- RUBS System in Place - Greatly Minimizing Owner Expenses
- Prime Martinez Location - Offers Easy Access to North Concord/Martinez BART Station, Highway 4, and Interstate I-680
- Constructed in 2014 and Features Forty-Two (42) Total Units Including Thirty(30) 1bd/1bth and Twelve (12) 2bd/2bth Units on 1.6 Acres of Land
- Amenities Include Granite Countertops, Stainless Steel Appliances, Hardwood Flooring, Recessed Lighting, In-Unit Washer and Dryers, Central A/C
- Community Amenities Include Private Fitness Center, Amazon Package Locker, Private Attached and Detached Garages, Controlled Access, and More
Executive Summary
The Pinza Group is pleased to present the Cascara Canyon Apartments at 720-740 Shell Ave in Martinez, CA. This offering features incredible long term fixed rate financing through August of 2050 at a blended 4.65% interest rate. This prime property comprises 42 total units, including 30 1bd/1bth and 12 2bd/2bth units, spread over an expansive 1.6 acres of land. Completed in 2014, it is the first apartment project built in Martinez in over 25 years, boasting a parking ratio of 1.51/1,000 SF, with select units offering tandem two-car garages for added tenant satisfaction. Each features granite countertops, stainless steel appliances, hardwood flooring, custom baseboards, recessed lighting, in-unit washer and dryer, and central heating and air conditioning. The property also offers a suite of community amenities including controlled access, private garage, video patrol, 24-hour access, door-to-door trash pickup, recycling, online services, public transportation, elevator, fitness center, individual locking bedrooms, and private bathrooms.
Property Facts
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 | - | 650 - 790 |
| 2+2 | 12 | - | 1,075 - 1,100 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
60/100
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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Built in 2014 & Assumable Financing | 720 Shell Ave
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