5312- 5324 D Avila Way
El Sobrante, CA 94803
Compass Commercial is pleased to present the D'Avila Woods Apartments, a unique multifamily investment property in El Sobrante. Nestled in the charming community of El Sobrante, this exceptional property offers a highly desirable configuration of 44 split-level townhouse-style units that were built to condo specifications in 1987. D'Avila Woods is comprised of 22 two-bedroom/two-bathroom and 22 two-bedroom/one-bathroom units. The 44 units are situatedwithin six stand alone buildings on a massive 3.91-acre lot. Each unit has a private one car garage and open parking spaces, private balconies or patios, dishwashers, garbage disposals, and in-unit washer/dryer units. The top units feature vaulted ceilings and outdoor balconies, while the lower units enjoy spacious outdoor patios.
El Sobrante is located in Contra Costa County, a short distance from major economic and educational hubs. San Francisco is 20 miles away, Oakland is 14 miles away. University of California, Berkeley is 13 miles, and Walnut Creek, is 18 miles away. This proximity makes El Sobrante an ideal location for commuters and those who seek convenient access to a variety of employment opportunities and educational institutions. Local employers include Chevron, Kaiser Permanente, John Muir Health, Safeway, and PG&E. There are multiple public transportation options nearby including the Richmond Bart Station, AC transit station (1 block away), and the Amtrak station. Interstate 80 and 580 freeways are also in close proximity.
The attractive, high quality townhouses with condo specifications serves as a low cost alternative to single family home or condo ownership. The prevailing high-interest rate environment and the resulting increased barriers to home ownership have created a high rent growth environment of large apartment buildings, like D'Avila Woods.
The property offers substantial potential for investors to create value. Investors can implement a Ratio Utility Billing System (RUBs). Additionally, potential improvements in curb appeal and amenities such as electric car chargers, and the addition of ADUs, are all promising to bolster the property's overall appeal and return on investment. There is a substantial opportunity to add 13 ADUs on the property. This includes 11 from garage conversion and two new construction units. There is also additional upside in renovating unit interiors to fit the tastes to meet the preferences of high income renters.
The Condo-Mapping provides the potential for an additional exit option. A new owner may set up an HOA, and convert the existing apartments tocondominiums and then sell the units individually at a premium. The condo conversion option, coupled with the property's value add opportunities and its location to nearby make this an outstanding investment opportunity for both the cash-flow and appreciation minded investor.