Description

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 Studio units and eight-1 bedroom/ 1 bath units. 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. Fantastic in-place rental income with additional upside through unit turnover/renovation, and annual rental rate increases. Highly desirable location just minutes to Downtown Concord. “Walkers Paradise” walk score. Todos Santos Plaza, Concord BART, and downtown Concord shopping/dining/entertainment all within 1 mile. Located within an opportunity zone. Most of the units have had extensive renovations over the last 4 years. The parking lot was repaired and resealed in 2023/2024, new wood fencing installed on both sides of the 2170 building in 2023, and the flat asphalt shingle portion of the roof was replaced in 2023.