Value-Add Opportunity in Pittsburg, CA
Light Industrial Property for Sale – Asking $1,200,000
A great opportunity for a value-add investor to improve the property, clean up the HOA, and sell the units as individual units. The property at 520 Garcia Ave., includes six (6) Commercial Condominiums as a leased investment. The units are currently constructed as office and warehouse with each unit containing a grade level roll-up door and bathroom.
The property is listed at approximately $114/sq. ft. Comparable condominium properties have sold for $150-$175 per square foot.
The project is located within an opportunity zone. This may allow an investor to defer capital gains.
Railroad Avenue Specific Plan
The property is covered by the Railroad Avenue Specific Plan of Pittsburg, CA. The zoning is Mixed Use per discussions with staff (buyer to verify).
- Zoned Mixed-Use per the Railroad Avenue Specific Plan
- Good mix of long-term and new tenants.
- Close to Pittsburg BART station and California Hwy 4
Address: 520 Garcia Ave.
Square Feet: 10,512