D'Avila Woods

Posted: 2/5/2020
44 Units
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About D'Avila Woods

Cushman & Wakefield is pleased to exclusively present the opportunity to acquire the 100% fee simple interest in D’Avila Woods (the "Property"), a 44-unit apartment community with significant value-add potential in El Sobrante, California. Situated in a central Bay Area location, 100% of the Property’s unit interiors remain un-renovated and provide a projected $344 average renovation premium per unit upon repositioning and stabilization.
Built in 1987 and situated on 3.91 acres of maturely landscaped grounds, The Property offers its residents convenient access to the Bay Area’s major employment centers via a direct 15-minute drive to the Orinda BART station and close proximity to Interstate 80. El Sobrante increasingly appeals to high-earning residents across the region - 38% growth of households making over $150,000 annually is expected over the next five years. During the same time period, Yardi projects rents in the submarket to increase 21% while maintaining 96% occupancy.
D’Avila Woods presents an investor the extremely rare opportunity to implement a value-add program in a centrally located property with an existing condo map, offering a clear path to additional upside while providing the flexibility of multiple exit strategies.