2329 Willow Pass Rd, Bay Point, CA for sale

Investment Overview

Introducing an exceptional 12 unit multifamily investment opportunity in Bay Point, CA. Situated at 2329 Willow Pass Rd, the property consists of 8 detached cottages and 2 duplexes on two contiguous parcels. The current unit mix of (3) Studios, (3) 1 bed/ 1 bath, (5) 2 beds/ 2 baths, and (1) 3 bed/ 1 bath offers a variety of options catering to a wide range of demographics. The fully occupied property boasts over $20,400 per month in rental revenue with all units either at or slightly below market rents. At the current price, the property offers a lucrative 8.05% Cash-on-Cash return on current income assuming a 35% down payment. Current ownership has completed over $200,000 in capital improvements, including 4 renovated units. Tenants pay their own PG&E and Water/Sewer bills and beginning in June 2025 tenants will pay their own garbage bill going forward, greatly reducing operating expenses for a new investor. In addition, the property collects ancillary laundry, parking, and storage income. The property has a gated lot with off-street parking, and its prime location just minutes from BART, local retail, and major highways, further enhance its appeal to prospective tenants.

Investment Highlights

• Exceptional Cash-on-Cash of 8.05% and Cap Rate of 7.15% on current in-place income
• Over $200,000 in capital improvements during current ownership including 4 renovated units
• 10 buildings on 2 parcels - all single story - 8 detached cottages + 2 duplexes
• Diverse unit mix catering to a wide range of tenant demographics
• Minutes to BART, local retail, and major highways (Hwy 4 & I-680)
• Gated lot with off-street parking
• Additional laundry, parking, and storage income
• Approx. 9,000 SF of building area on 0.39 acres (buyer to confirm)
• Zoning P-1 | Built: 1 937-1 947 (buyer to verify)