Creekside Village is a five-building complex built in 2004 nearthe intersection of Buchanan Road and Kirker Pass Road (YgnacioValley Road) in the southwestern corner of Pittsburg near thecommunities of Clayton, Concord, and Walnut Creek. The propertydoes not offer assisted living services and operates without rentor income restrictions.
Creekside offers one-bedroom and two-bedroom units with gasfireplaces and washers and dryers. Community amenities include aclubhouse and a heated swimming pool and spa.
The purchase price works out to $98,300 per unit and $132 perrentable square foot. Based on current annualized NOI of $529,562,the cap rate is 6.12%.
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