$2,350,000
45 W 10th St Pittsburg, CA 94565
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Listed by Monjid Aldiyyat • BHHS Drysdale Properties
$2,350,000
Est. payment /mo
7,574 SqFt
UPDATED:
10/21/2024 03:34 PM
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 7,574 sqft
Price per Sqft $310
MLS Listing ID 41076382
HOA Y/N No
Originating Board Bridge AOR
Year Built 1948
Lot Size 0.287 Acres
Property Description
We are 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 five 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 3.72% with eight 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%
Location
State CA
County Contra Costa
Interior
Heating Wall Furnace
Cooling None
Flooring Laminate, Vinyl
Fireplace No
Laundry Laundry Equip - Leased
Exterior
Handicap Access Other
Parking Type Guest, Parking Lot, Space Per Unit - 1, Uncovered Parking Space
Building
Lot Description Corner Lot, Level
Water Public
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