2512 Edison Avenue
Sacramento, CA 95821
Sq. Feet 60,548
The Pine Cone Apartments are a beautiful 28-unit apartment building located t 1701 Pine Street in Concord, California and located in the Ellis Lake Neighborhood, which is six blocks from the BART Station, one block from the Highway 24 on-ramp.
Originally constructed in 1969 on a concrete slab foundation, the wood frame and exterior lie tucked in a secluded and quiet setting. The two building structures contain an even mix of 14 one-bed/one-bath units, and 14 two-bed/one-bath units. All units contain wall-to-wall carpeting and linoleum flooring in both the kitchen and bathroom, and all 14 two-bed units contain their own dishwasher. All units have a covered carport in addition to the properties 13 guest parking spaces. The residents of the Pine Cone Apartments benefit from an on-site laundry facility, sparkling swimming pool, and individualized storage unit. Sixteen of the units offer their tenants a patio or balcony area, and all units are individually metered for gas and electricity. Several units have had complete rehabilitations in the past few years, and overall the property is in good condition. Rents are below market and the property benefits from a historically low vacancy.
Cap Rate: 7.47% NOI: $219,158 Livable Sq. Ft: 21,560
Built in 1969 28 units Lot Sq. Ft: 35,283