2329 Willow Pass Rd

Bay Point is located in the eastern portion of Contra Costa County, offering residents and investors convenient access to the broader San Francisco Bay Area. The area is served by nearby BART stations, Highway 4, and major commuter corridors, making it an attractive location for workforce housing. Contra Costa County blends suburban living with access to major employment hubs, recreational areas, and educational institutions. The County's diverse economy is supported by industries such as healthcare, technology, energy, and manufacturing, and continues to benefit from spillover growth from higher-cost neighboring counties like Alameda and San Francisco. Bay Point itself is a community experiencing rising rental demand, driven by its affordability relative to the broader Bay Area, proximity to the Pittsburg/Bay Point BART station, and convenient access to employment centers in Concord, Walnut Creek, Oakland, and San Francisco. With its prime location and close proximity to numerous amenities, the area presents an attractive opportunity for multifamily investors seeking an appealing and well-connected locale.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.