Bought with Arash Erfani Joorabchi • Better Homes and Gardens RP
$1,000,000
$1,200,000
16.7%For more information regarding the value of a property, please contact us for a free consultation.
20,037 SqFt
SOLD DATE : 05/03/2019
Key Details
Sold Price $1,000,000
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Sold
Purchase Type For Sale
Square Footage 20,037 sqft
Price per Sqft $49
MLS Listing ID 40855319
Sold Date 05/03/19
HOA Y/N No
Originating Board BAY EAST
Lot Size 0.460 Acres
Property Description
INVESTORS – 1031-Exchange into this property and leverage $600,000 into $4.8-million ... $600,000 gets you into the property and the build out can be financed ... build EIGHT brand-new rentals at $435,000 per unit and get Cap-Rates of approx. 6.2% - AND - instant equity of $165,000 per unit. This can be an AFFORDABLE HOUSING project. The current house would rent for $2,500 to $3,000 per month while you are getting plans approved. Land is already zoned M-2.5 for up to 8-units. Do something unique that will get a lot of publicity for being so cool – and get you invited to do more in-fill projects. This location is awesome – walk to WC or PH BART – and easy, easy, easy access to the freeway. 20,037 square foot lot is flat. Two APN's 172-130-015 and 172-130-016-6.
Location
State CA
County Contra Costa
Interior
Fireplace No
Building
Lot Description Mostly Level
Water Public
Schools
School District Acalanes (925) 280-3900, Walnut Creek (925) 944-6850
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