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    2329 Willow Pass Road

    Bay Point, CA 94565
    • $2,750,000
    • STATUS: Active
    • ON SITE: 235 days
    • ID#: 40897898
    UPDATED: 32 min ago
    $2,750,000
    • 0
      BEDS
    • 0.39
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1945
    County:
    Area:

    School Ratings & Info

    Description

    PRICE CUT 2.9M to 2.75M on 10/11. Address is 2315-2329 Willow Pass and 19-37 Washington St - main parking lot on 19Washington St. Priced at CURRENT 6.13% cap.Great unit mix 1 Three-bed, 5 Two-bed, 3 One-bed, 3 studios. high rents/ unit; low expenses. Comparable Owner's listing 83 solano ave Bay Point sold for $2,675,000 (largely studios and 1 bed); here the gross profit is slightly higher. CAPITAL IMPROVEMENTS DONE: NEW ROOFS, NEW DUAL PANE WINDOWS, NEW SIDING ON MOST UNITS, NEW PAINT EXTERIOR AND INTERIOR, NEW LANDSCAPING, 2 UNITS EVEN HAVE NEW FOUNDATION, 11 OF THE 12 INTERIORS UPGRADED. High CURRENT CAP RATE 6.13% and yet little improvements or Repair/maintenance to do and hardly any utility bills to pay (water paid by tenants). Current Rent is ~$19500/month; ~$234000/year. SEE OM ATTACHED. All leases are done in last ~2 year with HIGH SECURITY DEPOSITS providing security on tenant performance and careful documentation of leases - TO MAKE MANAGEMENT OF COMPLEX, EASIER AND TURNKEY.

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    Bay East ©2020. CCAR ©2020. bridgeMLS ©2020. Information Deemed Reliable But Not Guaranteed. This information is being provided by the Bay East MLS, or CCAR MLS, or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website. This information is intended for the personal use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated at 2020-10-26T23:39:53.677.

    www.searcheastbayrealestate.com/homes/103849470
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    2329 Willow Pass Road Bay Point, CA 94565

    • Price: $2,750,000
    • Status: Active
    • Updated: 32 min ago
    • ID#: 40897898
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.39
    Acres
    1945
    Built
    Neighborhood:
    Bay Point
    County:
    Contra Costa
    Area:
    Bay Point
    Property Description
    PRICE CUT 2.9M to 2.75M on 10/11. Address is 2315-2329 Willow Pass and 19-37 Washington St - main parking lot on 19Washington St. Priced at CURRENT 6.13% cap.Great unit mix 1 Three-bed, 5 Two-bed, 3 One-bed, 3 studios. high rents/ unit; low expenses. Comparable Owner's listing 83 solano ave Bay Point sold for $2,675,000 (largely studios and 1 bed); here the gross profit is slightly higher. CAPITAL IMPROVEMENTS DONE: NEW ROOFS, NEW DUAL PANE WINDOWS, NEW SIDING ON MOST UNITS, NEW PAINT EXTERIOR AND INTERIOR, NEW LANDSCAPING, 2 UNITS EVEN HAVE NEW FOUNDATION, 11 OF THE 12 INTERIORS UPGRADED. High CURRENT CAP RATE 6.13% and yet little improvements or Repair/maintenance to do and hardly any utility bills to pay (water paid by tenants). Current Rent is ~$19500/month; ~$234000/year. SEE OM ATTACHED. All leases are done in last ~2 year with HIGH SECURITY DEPOSITS providing security on tenant performance and careful documentation of leases - TO MAKE MANAGEMENT OF COMPLEX, EASIER AND TURNKEY.
    Exterior Features

    Additional Misc Features None Exterior Composition ShinglesDual Pane WindowsWood Siding Lot Description Regular Parking Description Carports - 2 Or More Parking Spaces Total 17 Roof Composition Shingles

    Interior Features

    All Units Have Other Basement None Cooling Window/Wall Unit(S) Flooring Laminate Heating Wall Furnace

    Property Features

    Annual Expense Year 65706 Annual Gross Fee Income 234000 Annual Gross Sched Income 234000 Annual Insurance Expense 5500 Annual License Expense 0 Annual Maintenance Exp 4200 Annual Management Expense 0 Annual Miscellaneous Inc 0 Annual Rental Inc 0 Annual Taxes 30250 Annual Total Oper Exp 65706 Annual Utility Expense 11927 Annual Vacancy Expense 7020 Building Type 5 Or More Units Disabled Features Other Equipment Additional None Existing Lease Terms None Financial Data Source Estimated Gross Oper Actual Inc 234000 Net Operating Income 168294 Other Annual Expense 0 Point Of Sale Ordinance No Special Information None Tenant Pays ElectricGasWater Tot Bldg Sq Ft 5649 Total Deposits 20767 Water Sewer Sewer System - PublicWater - Public

    Listing courtesy of Sandeep Gupta of .


    Bay East ©2020. CCAR ©2020. bridgeMLS ©2020. Information Deemed Reliable But Not Guaranteed. This information is being provided by the Bay East MLS, or CCAR MLS, or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website. This information is intended for the personal use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated at 2020-10-26T23:39:53.677.

     
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