1230 Pine Street

Description

Excellent opportunity to acquire an 18-unit apartment complex with 4 additional ground floor commercial spaces in downtown Martinez, California. Constructed in 1927 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. The property is highlighted by a unit mix of ten (10) 1-bedroom, 1-bath units of approximately 625-800 square feet, eight (8) studio units of approximately 400 square feet and four (4) individual retail spaces of approximately 200 square feet with frontage on Pine Street. The commercial spaces are currently rented to a tax preparer, hair salon, artist studio, and florist shop. One retail space has its own bathroom. The other three retail units share a small bathroom located behind the retail spaces. Additionally, there are five (5) storage garages in the interior courtyard rented to tenants and an on-site laundry facility with leased machines, which provides additional income. This fully stabilized asset consists of mostly long-term tenants and any vacancies are filled quickly.