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CONCORD, CA – DECEMBER 27, 2016
NAI Northern California, a member of the world’s premier managed network of commercial real estate firms, is proud to announce the sale of a 20-unit Multifamily property located at 4819 Clayton Rd. in Concord, CA. Vice President Ethan Berger, Investment Advisor Monjid Aldiyyat, and the NAI Northern California Multifamily Team represented both the seller and buyer in the $3.75 million dollar sale of the building marked as the 7th Multifamily closing in Concord in 2016.
Woodstone Apartments is a 20-unit property built in 1963 comprised of all 2 -Bed and 1-Bath units. Located along Clayton Rd., a main street within Central Contra Costa County, the property is in close proximity to a multitude of commuting options, downtown Concord, a number of local amenities, and major Bay Area employment centers. As an ideal location coupled with a number of renovations for several units, investors have shown increased interest for this value-add opportunity.
“There were a few challenging elements to this transaction. Both the Buyer and Seller were trading out of multiple properties simultaneously, so the transaction had to adhere to a pretty strict timeline with a number of coordinating elements,” says Ethan Berger, Vice President at NAI. “Additionally the property had been previously mismanaged and a number of the leases and records could not be retrieved from the prior management company and had to be created and executed during escrow.”
About NAI Northern California
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