1506 Garcez Dr Concord, CA 94521
12,990 Sq. Ft., 0.298 acres lot size / Other
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1506 Garcez is a well-maintained 12-unit apartment building in the city of Concord, 11 of 12 units occupied. The property has been meticulously maintained by current ownership, with recent capital improvements completed to extend the longevity of the property. The unit mix consists of ten (10) 2 bed/1 bath units, one (1) 2 bed/1.5 bath unit, and one (1) 1 bed/1 bath unit on low maintenance landscaping. Offered at $3,500,000 ($291,667 per unit) with a 6.13% cap rate and 11.20 GRM, based on gross scheduled rental income of approximately $312,500 annually and NOI of $214,667. Additional upside through leasing the vacant unit(s), unit turnover and renovation, and annual rental rate increases. The property collects laundry income, few units pay an additional $100 per month in utility reimbursement to offset water, recycling, and trash expenses. Several units have updated flooring, kitchens, bathrooms, and new appliances. Double pane windows throughout. Exterior painting and a 30-year foam roof were completed within the last 4 years. Covered and uncovered off-street parking. Tenants are separately metered for gas and electric. Just blocks from Clayton Valley Shopping Center, with close proximity to main thoroughfares through the city. Concord BART is approximately 4 miles away. Please do not disturb the tenants.
property details
Type
Other
Status
Active
County
Contra Costa
Year Built
1960
Lot Size
12,990 Sq. Ft., 0.3 acres
Listing Id
41153782
Listing Courtesy Of
Jane Hazin - BHHS Drysdale Properties +1 (925) 705-3200
List Office Phone
+1 (925) 280-4920
Subdivision
CLAYTON VALLEY
Interior Features
Appliances
Dryer
Washer
Washer
Utility & Building Info
Below Grade Finished Area
0
Price Per Sq Meter
$0
Heating
Wall Furnace
Building Area Total
0 Sq. Ft.
Architectural Style
Other
Price History
| date | event | price | source |
|---|---|---|---|
|
11/13/2026
11/13/2026
|
Active |
$3,500,000
|
CA Regional MLS (CRMLS) |
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Market Trends
Source: Constellation1
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