25 W 10th St

The dynamic city of Pittsburg is located in Contra Costa County on the southern shore of the Suisun Bay in the East Bay region of the San Francisco Bay Area, and part of the Sacramento-San Joaquin River Delta Area. Its enviable location places it within a close distance of several big-market cities accessible with a vast transportation network. The property is located off of Railroad Road and a short walk to Old Town Pittsburg for shopping and dining, or relax outside at John Buckley Square or Pittsburg Marina. Boasting a "very walkable" walk score of 86, current and future tenants enjoy the close proximity to schools, easy access to Highway 4, and just 1 mile to the Pittsburg Center BART station with access to anywhere in the Bay Area. Just south of the Pittsburg BART are the Pittsburg Towne Centre and Atlantic Plaza Shopping Centers comprised of national retailers, Walmart located 2.3 miles to the east, and 2.8 miles to Los Medanos College, recently ranked the #6 community college in the nation. The Pittsburg/Antioch multifamily submarket has enjoyed a remarkable stretch of rent growth. Apartment rents today are 61.1% higher than they were 10 years ago. That's markedly ahead of the long-term performance in the metro, where rents cumulatively increased by 35.5% over the past decade.Dayat Commercial Group is pleased to present 25-45 W. 10th Street in Pittsburg, CA. The property is a well maintained three-story building located within minutes to Downtown Pittsburg and the marina. Built in 1948, the 7,574 square foot building boasts a unit mix of three (3) 3 bed/1 bath units, two (2) 2 bed/1 bath units, three (3) 1 bed/1 bath units, and two (2) studios. Current ownership has renovated multiple units upon turnover, four of which included extensive value add renovations. Renovated units offer hardwood flooring, two-pane vinyl windows, new paint, and charming original features throughout. Some units have beautiful views of the marina in the distance. The sale includes the adjacent parcel which is a 14 stall parking lot for the property. The property is separately metered for PG&E, and the owner pays for water and garbage. In addition to off-street parking, the property also has onsite laundry, and perimeter fencing. New investors have the opportunity to assume the current financing on the property with a current balance of $1,319,000 at an interest rate of 3.82% with 8 years remaining. With this significant reduction from current market interest rates, a new investor can assume the loan and capture a tremendous year 1 cash-on-cash return of 8.6%