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423 E 13th St

16 Unit Apartment Building $3,719,395 ($232,462/Unit) 6.21% Cap Rate Antioch, CA 94509

Investment Highlights

  • Desirable Unit Mix of Two Bed/One Bath Floor Plans
  • On-Site Laundry Facility
  • Rare Opportunity to Acquire a 16-Unit Building in a Supply Constrained Market
  • Roof Replaced in 2018 & Electrical Breakers Updated in 2016
  • Easy Access to Antioch Bart, Highway 4, Shopping Centers, Eateries, Entertainment, Parks, and Hospitals
  • Select Units Recently Renovated/Reserved Carports and Off-Street Parking

Executive Summary

Please visit the following website to gain access to Offering Memorandum and other marketing materials. Click the orange button where it says Offering Memorandum & Deal Room. If you don't have an account, you will need to sign up. Once you execute a CA, I will be notified and will approve request.
Website: https://www.marcusmillichap.com/properties/142951/423-e-13th-st
Marcus & Millichap is pleased to present 423 E. 13th Street in Antioch, Ca. Constructed in 1973 and situated on a .53 acres lot, this two-story building is comprised of sixteen (16) spacious two-bed/one-bath units at approximately 800 square feet each. The property features a slight pitched roof, wood siding, copper plumbing, single and dual pane windows (select units), updated electrical breakers, wall heating and air, individual water heaters, patios and balconies in select units, on-site laundry facility, reserved covered and uncovered off-street guest parking. Select units feature brand-new hardwood shaker cabinets, quartz countertops, stainless steel appliances including, full kitchen back-splash, ceiling fans, flooring and updated bathrooms including new vanities. All units are separately metered for PG&E. All units have gas stoves, dishwasher, kitchen pantry and garbage disposal.
423 E. 13th Street is located within minutes of Highway 4, Antioch Bart station, various shopping centers, schools, public parks, restaurants and within commuting distance to major job centers such as San Francisco and Oakland, ensuring consistent tenant demand.
Antioch, Ca, blends rich history with modern suburban living. Originally founded in 1850 as a mining town, Antioch has evolved into a diverse community known for its family-friendly neighborhoods and recreational opportunities. The city's strategic location along the Sacramento-San Joaquin River Delta offers residents access to boating, fishing, and outdoor activities. Antioch boasts a thriving arts scene, with local galleries and cultural events showcasing the talents of its residents. The historic downtown area features charming shops and restaurants, contributing to a vibrant local economy. Residents enjoy a variety of parks and open spaces, including the scenic Black Diamond Mines Regional Preserve, which offers hiking and wildlife viewing. Education is a priority in Antioch, with several public and private schools serving the community, along with opportunities for higher education nearby. The city is also conveniently situated for commuters, with easy access to major highways and public transportation options.
Overall, Antioch offers a blend of historical charm, natural beauty, and modern amenities that make it a desirable place to live and visit in the East Bay.
423 E 13th Street represents a compelling investment opportunity with stable income streams, value-add potential, and strategic location advantages. Ideal for investors seeking to capitalize on the robust rental market and growth prospects of the San Francisco Bay Area, this property offers a solid foundation for portfolio expansion and long-term wealth generation.
DRIVE BY ONLY. ALL PROPERTY SHOWINGS ARE SUBJECT TO SELLER ACCEPTED OFFER ONLY. PLEASE CONSULT MARCUS & MILLICHAP LISTING AGENT FOR MORE DETAILS. PLEASE DO NOT DISTRUB TENANTS.

Property Facts

Price $3,719,395
Price Per Unit $232,462
Sale Type Investment
Cap Rate 6.21%
Gross Rent Multiplier 10.64
No. Units 16
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.53 AC
Building Size 13,120 SF
Average Occupancy 100%
No. Stories 2
Year Built 1973
Parking Ratio 1.52/1,000 SF

Unit Amenities

  • Air Conditioning
  • Dishwasher
  • Disposal
  • Microwave
  • Storage Space
  • Heating
  • Ceiling Fans
  • Kitchen
  • Refrigerator
  • Stainless Steel Appliances
  • Range
  • Pantry
  • Patio

Site Amenities

  • Laundry Facilities
  • Property Manager on Site
  • Gas Range
  • Storage Space

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 16 - 800
Walk Score ®
Very Walkable (73)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
065-103-015-7
Land Assessment
$655,951
Improvements Assessment
$1,530,569
Total Assessment
$2,186,520

zoning

Zoning Code R-3, Antioch
R-3, Antioch
  • Listing ID: 32629046

  • Date on Market: 7/30/2024

  • Last Updated:

  • Address: 423 E 13th St, Antioch, CA 94509

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