2170-2180 Fremont St Immeuble residentiel 16 lots 3 348 027 € (209 252 €/Lot) Taux de capitalisation 5,74 % Concord, CA 94520

2170 2180 Fremont Street presents a rare opportunity for an investor to purchase a turn-key fully occupied 16 unit apartment building located in Downtown Concord. Built in 1978, the property comprises two separate buildings on two separate parcels, with a combined square footage of 7,852 square feet on a 0.57 acre lot. The unit mix consists of eight (8) Studio units of approximately 400 square feet, and eight (8) 1 bedroom/ 1 bath units of approximately 600 square feet. Additionally, the property features secured access perimeter fencing, 16 covered and 6 uncovered off street parking spaces, and private patios/balconies all on a drought resistant landscape. All units are individually metered for gas and electric.
The property has been meticulously maintained by current ownership. Most of the units have been renovated over the last 4 years with water resistant vinyl plank flooring, granite kitchen countertops, updated bathrooms, new appliances, new carpeting in bedrooms, and interior painting. Both buildings feature a durable concrete tile roof that can last between 50-100 years with minimal maintenance. The asphalt shingle on the flat portion of roof was replaced in 2023. The parking lot was repaired and resealed in 2023/2024, and new wood fencing installed along the 2170 building in 2023. The exterior iron fence and gates were installed in 2014. The property also collects ancillary income with two on-site laundry facilities. In all, this opportunity will provide a new investor with day one cash flow, additional upside with unit turnover, and revenue growth through annual rent increases in a high demand location.
The property’s desirable location just off the main thoroughfare to Downtown Concord will continue to drive renter demand to the property. Residents enjoy having access to the abundant dining, shopping, and entertainment options within walking distance to downtown, boasting a “Walker’s Paradise” walk score of 90. On Tuesdays, locals head to Downtown Concord's Todos Santos Plaza for the city's weekly farmers' market. For commuters, the property is conveniently located off of Concord Ave near Highway 242, as well as within 1 mile of the Concord BART station. In February 2025 the city loosened rent control restrictions to a max of 5% annually.
Concord is Contra Costa County’s largest city and a proud home to a diverse, vibrant population approaching 125,000. Its Bay Area location makes Concord a top choice for businesses. BevMo is headquartered there, Honda chose Concord as the site to test its self-driving cars, and Whole Foods opened the first East Bay Area 365 store in Concord. Several cutting-edge Biomedical Technology companies are in Concord including John Muir Health (Ranked #2 Best Regional Hospitals by U.S. News & World Report) Also making their home in Concord are Cerus Corporation and Fresenius Medical Care - both innovators in the Healthcare Industry. Concord offers its residents a high quality of life and has been named one of the “Best Places to Raise a Family” by Livability.com and “One of the Top Cities in Which to Retire” by Conde´ Nast Traveler.
In 2024, the Concord/Pleasant Hill submarket maintained strong demand with the vacancy rate decreasing to 5.1% as of the first quarter of 2025, the second lowest in the East Bay. The overall decline in vacancy highlights the sustained demand for housing in the submarket. In the wider metro area, solid demand growth and a diminishing construction pipeline have put downward pressure on the market's vacancy rate. It is also one of the few regions witnessing positive rent growth, increasing 1.1% over the past year. The overall outlook for the submarket is relatively stable.