Ethan Berger and the NAI Northern California multifamily team is pleased to offer a well-maintained multifamily investment opportunity in Martinez, California. The property totals 11 apartment units consisting of a desirable mix of 7 two bedroom one bath, 3 one bedroom one bath, and one studio unit. The units are spread between two single story, wood frame and stucco buildings constructed in 1962. Each unit is individually metered for PG&E and has its own water heater, reducing Owner operating costs; they all also feature gas wall heaters, wall ac units, electric stoves, and 2 off street private parking stalls. In addition a majority of the units include private enclosed yards, storage areas, and select units have updated cabinetry, flooring, and dishwashers. The roofs were replaced in 2015 and all tenants enjoy access to the onsite coin operated laundry facilities, which along with the rented storage garage, generate additional income for the Ownership..

Location Description:

The city of Martinez is located in the East Bay about 35-40 minutes from San Francisco and serves as the Contra Costa County seat. Martinez offers a central East Bay location with convenient access to all major Bay Area cities and employment centers via Interstate 680, highway 4, County Connection bus lines and the downtown Martinez Amtrak station. Residents enjoy a small town setting with numerous parks, trails and water front access to the Carquinez Straits.

Highlights:

>> 6.27% Cap Rate

>> New roof

>> New dual pane windows

>> Exterior painted May 2016

>> On-site laundry facilities

>> Mix of studio, 1 and 2 bedroom units

>> Individual water heaters

>> Private enclosed yards

>> Ample off street private parking

>> Well cared for property

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