500 Texas St

Well-maintained 8-unit multifamily property located at 500 Texas St, Antioch, CA 94509, offering strong in-place income with significant value-add upside. The property features an ideal unit mix of seven (7) 2-bedroom / 1-bath units and one (1) 1-bedroom / 1-bath unit, situated on an oversized 11,900 sq. ft. lot. The building is motel-style, easy to manage, and has been well maintained with fresh exterior paint and low-maintenance landscaping. All units are on month-to-month leases, providing immediate flexibility for a new owner to reposition rents, stabilize occupancy, or implement renovation upgrades.Current operations reflect below-market rents and vacancy, offering a clear path to upside. Market rents are estimated at approximately $1,850 for 2-bedroom units and $1,650 for the 1-bedroom unit, which would significantly increase NOI once stabilized. At full market rents, the property supports a pro-forma cap rate of approximately 4.75%. The oversized lot presents potential ADU development opportunity (buyer to verify), providing an additional long-term value-add component beyond rental growth. Offered at $2,388,000, this property is well-suited for investors seeking stable cash flow, immediate rent growth potential, and future development upside in a growing East Contra Costa County submarket.