3066 Willow Pass Road | Concord, CA | Kona Kai Village Apartments

Rare opportunity to acquire a well-maintained 36-unit multifamily gated community comprised entirely of spacious two-story townhouse-style apartments. All units feature a desirable 2-bedroom/1.5-bathroom floor plan of approximately 1,200 square-feet with central forced heating, air conditioning, assigned on-site parking, and functional layouts that continue to attract long-term tenants.

Situated on approximately 1.50 acres, the gated property consists of five (5) residential buildings, an on-site leasing/manager's office, sparkling swimming pool, 34-covered carport spaces, and 20 additional uncovered parking spaces. Significant recent capital improvements include Newer Roofs on all main buildings (2019), New Siemens Electrical Sub-panels installed throughout all 36-units (2025), with New Parking Lot Asphalt and Carport Roofs scheduled for completion in late summer, 2026. These improvements substantially reduce near-term capital expenditures for a new owner.  Kona Kai Village has been well-managed for years, and Chase has underwritten the property on current income/expenses for a 5-year fixed loan at current interest rates of $6,000,000, or 60% LTV at asking price.

The property offers investors an attractive combination of stable in-place income and long-term upside within the strong Contra Costa County rental market. An exceptional opportunity to acquire a pride-of-ownership asset featuring large townhouse-style units, extensive recent improvements, and excellent long-term investment fundamentals.