CONCORD, CALIF. — CBRE has brokered the sale of California Villas, an apartment community in Concord. A private buyer acquired the asset from a local private investor for $9.1 million.
Located at 1621 Detroit Ave., California Villas features 23 one-bedroom units and 12 two-bedroom units, all of which have air conditioning with private balconies or patios. Built in 1966, the 24,958-square-foot property is situated on 0.91 acres. Community amenities include a pool, coin-operated laundry facility and a gated access.
Nearly 70 percent of the units received significant interior upgrades, including new cabinets, vinyl plank flooring, granite countertops and stainless steel appliances. Recent exterior improvements include repair/replacement of all balconies, rebuilt patios, new paint/light fixtures and a renovated parking area.
Keith Manson, Zachary Greenwood and Mac Watson of CBRE represented the seller in the transaction.