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