NOT LISTED FOR SALE
10 Beds
-- Bath
9,646 Sq Ft
9,583 Sq Ft Lot

Last Sold July 29, 2024

Last sale price $2,850,000 $295 Per Sq Ft

25 Days on Market

Highlights

  • 0.22 Acre Lot
  • Laundry Facilities
  • 4-minute walk to Susana Park
  • Corner Lot

About This Home

As of July 2024

Extremely rare 18-unit apartment complex with four commercial spaces in Downtown Martinez, California. With frontage on both Pine Street and Susana Street, the subject property consists of four separate buildings situated on a level corner parcel of approximately 0.22 acres. Highlighted by a unit mix of ten (10) 1-bedroom, 1-bath units, eight (8) studio units and four (4) individual retail spaces with frontage on Pine Street, this well-located property has easy access to restaurants, shops, schools and public transportation. This location fits perfectly with the building unit mix of 1-bedroom and studio units. This fully stabilized asset consists of mostly long-term tenants and any vacancies are filled quickly. This well-maintained property offers investors a significant value-add opportunity to capture huge upside that could be realized by modernization of the units and increasing the under-market rents.

Last Agent to Sell the Property

Steven Level

Berkshire Hathaway License #01184232 Listed on: 05/14/2024

Berkshire Hathaway

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1927

Lot Details

  • 9,583 Sq Ft Lot
  • Corner Lot

Parking

  • On-Street Parking

Home Design

  • Mixed Use
  • Flat Roof Shape
  • Concrete Foundation
  • Slab Foundation

Interior Spaces

  • 9,646 Sq Ft Home
  • 2-Story Property

Utilities

  • Wall Furnace
  • Individual Gas Meter

Listing and Financial Details

  • Assessor Parcel Number 374-073-010

Community Details

Overview

  • 4 Buildings
  • 22 Units

Additional Features

  • Laundry Facilities
  • Gross Income $309,744

Property Details

Home Type

Multi-Family

Year Built

Built in 1927

Lot Details

0

Listing Details

  • Type: Residential Income
  • Property Sub Type: 5 or More Units
  • Subtype Description: Apartments, Mixed Use
  • Directions To Property: 1230 Pine St, Martinez, CA
  • Lot Size Acres: 0.2200
  • CapRate: 6.41
  • Levels: Two
  • Actual or Scheduled: Actual
  • Number Commercial Units: 4
  • Reso Window Features: Dual Pane Full
  • Special Features: None

Interior Features

  • Square Footage: 9646.00
  • NumberOfBuildings: 4

Exterior Features

  • Foundation: Concrete Perimeter, Slab
  • Lot Features: Corner, Shape Regular
  • Roof: Flat

Garage/Parking

  • Parking Features: Street

Utilities

  • Cooling: Varies By Unit
  • Sewer: Public Sewer
  • Water Source: Public
  • Heating: Wall Furnace
  • Laundry Features: Coin Operated, In Common Area
  • Separate Meters: Electricity, Gas

Lot Info

  • Assessor Parcel Number: 374-073-010
  • Lot Size Sq Ft: 9583.00

Building Info

  • Year Built: 1927

Multi Family

  • One Bedroom Annual Occupancy: 97
  • 1 Bedroom Rent Range: 1341-1650
  • Number Of1 Bedrooms Occupied: 10
  • Number of 1 Bedroom Units: 10
  • Number of Studio Units: 8
  • NumberOfUnitsTotal: 22
  • Number Studios Occupied: 8
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/29/2024 07/29/24 Sold $2,850,000 -7.9% $295 / Sq Ft
06/08/2024 06/08/24 Pending -- -- --
05/14/2024 05/14/24 For Sale $3,095,000 -- $321 / Sq Ft
Source: Bay Area Real Estate Information Services (BAREIS)

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $46,446 $2,859,968 $1,350,000 $1,509,968
2024 $29,126 $1,447,723 $436,593 $1,011,130
2023 $29,126 $1,421,463 $428,033 $993,430
2022 $29,434 $1,395,017 $419,641 $975,376
2021 $27,705 $1,365,839 $411,413 $954,426
2019 $26,329 $1,329,376 $399,211 $930,165
2018 $25,357 $1,288,967 $391,384 $897,583
2017 $24,548 $1,264,134 $383,710 $880,424
2016 $23,048 $1,240,020 $376,187 $863,833
2015 $22,545 $1,221,794 $370,537 $851,257
2014 $22,022 $1,204,241 $363,279 $840,962
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Bay Area Real Estate Information Services (BAREIS)

MLS Number: 324036732

Bay Area Real Estate Information Services (BAREIS)