TWO, 8-unit apartment buildings in Pleasant Hill, CA


329 Camelback Rd, Pleasant Hill, CA 94523

Below-market rents


Property Description

TWO, 8-unit apartment buildings for-sale … 16-Units

Excellent location on a tree-lined street in an upscale area.   A few blocks to Safeway, Target, Sunvalley Mall and Diablo Valley College (about 22,000 students).   

First time on the market in 44-years … this has been a terrific rental property.

329 and 323 Camelback Road, Pleasant Hill
Off Hwy-680, by Walnut Creek, Concord and Martinez

Apartment Mix (each building)
4-units are 1-bed/1-bath
2-units are 1-bed + den/1-bath
2-units are 2-bed/1-bath

Current Rents :   $144,000 per year (ave per building)
HUD Rents :   $204,000 per year (per building)

Offered at :   $2,000,000 (per building)
Price Per Unit :   $250,000

Square feet :   5,808 (per building)
Price Per Sq Ft :   $344

CAP-Rates :   3.8% (current rents), 6.8% (HUD rents)

Offers reviewed on Tuesday, June 28th at 3pm

This is a Trust Sale, no court approval is required

IMPORTANT : please do not disturb Tenants - you are welcome to driveby, or do a quick walk around the buildings, but please have any discussions across the street so as not to disturb the Tenants.   

SHOWINGS :   unfortunately, we do not have a vacant unit to show, and, with apartment buildings, we cannot show the apartments prior to being in-contract because it would be much too intrusive on the Tenants.

OFFERS :   please write Offers subject to your inspections.   Do not write Non-Contingent, Buyers will have time to do inspections.

CONDITION :   apartments are in good condition and have been updated over the years.

SWIMMING POOLS and LAUNDRY :   tenants have access to 2 swimming pools and the coin laundry room - you can see them at 630 Tempe Court - the pool and laundry are owned by Camelback North Apartments and use of them is paid by the landlord to the property management company.

HVAC :   the 2-bedroom units have central HVAC, all other units have a wall heater and air conditioner.

UTILITIES :   Tenants pay for electricity and cable.  Landlord pays for water and garbage.   

PROFORMA :   email Kevin for a copy of the Proforma.  email to :  "EMAILKEVIN@ATT.NET"

Pre-Escrow is with First American Title in Orinda.

Key Property Information

Listing Status
Listing Type
Highest & best offer
Multifamily type
Garden Style
$ 4,000,000
No. of Units
Cap Rate
Average Occupancy
Year Built
Year Renovated
Building Size
11,616 Sq ft
Lot Size
47,916 Sq ft
No. of Stories
No. of Parking Spots
Opportunity Zone
Price per unit
$ 250,000
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