Moraga, CA | 6 Value-Add Units

Highlights:

• Rare Moraga Multifamily Investment - A rare opportunity to acquire a multifamily investment property in the highly desirable Town of Moraga, California, a community with historically limited rental housing supply and strong demand from families and professionals.
• Significant Value-Add Potential with Four Vacant Units - Delivered with four (4) vacant units, offering the opportunity to complete interior upgrades and lease them at market-leading rents, maximizing immediate upside potential.
• No Local Rent Control Ordinance - The Town of Moraga has no local rent control ordinance, providing flexibility to implement market-based rental increases, subject only to California’s statewide rent cap (AB 1482).
• Large, Family-Oriented Unit Mix Including Owner-Occupier Appeal - The property features spacious units, including a rare 3-bedroom, 2.5-bathroom residence — an ideal layout for owner-occupiers, families, or tenants seeking more living space in a traditionally single-family-dominated market.
• Condominium Conversion Potential - Potential to pursue a condominium conversion and sell units individually to capitalize on Moraga’s strong owner/user condo market. Since July 2024, the average sale price of 3-bedroom condos in Moraga reached $1,098,864 ($623 per SF), while 2-bedroom condos averaged $866,932 ($639.54 per SF).
• Favorable Surrounding Single-Family Market - The average single-family home sale price in Moraga since July 2024 is nearly $1.975 million, highlighting significant pricing support and exit-value potential for repositioned or converted units.
• High-Income Demographics - Moraga boasts an average household income of $262,781 and a median household income of $199,800, supporting robust tenant profiles and strong purchasing power among prospective condo buyers.
• Top-Rated Community - In 2025, Moraga was ranked the #1 Best Place to Live in Contra Costa County by Niche.com, underscoring its reputation for quality of life, safety, and community appeal.
• Exceptional Public School System - Served by some of the best-rated public elementary, intermediate, and high schools in the Bay Area, making the location highly attractive to families.
• Excellent Regional Connectivity - Offers convenient access to major Bay Area employment centers, including Walnut Creek, Oakland, San Francisco, and Silicon Valley, via Highway 24 and BART transit options nearby.
• Proximity to Local Amenities - Steps from Moraga Road, the town’s primary thoroughfare, with immediate access to Rheem Valley Shopping Center and Moraga Shopping Center for retail, dining, and everyday conveniences.
• Extremely Limited Multifamily Pipeline - There are currently no multifamily projects under construction in Moraga, with only two projects totaling 189 units approved or proposed, ensuring limited future competition.
• Potential for Accessory Dwelling Units (ADUs) - The property presents the opportunity to add Accessory Dwelling Units (ADUs), which could increase the overall unit count and revenue potential while responding to California’s pro-ADU legislation.

Description:

PROPERTY TOURS ARE AVAILABLE BY APPOINTMENT ON THE FOLLOWING DATES:
- TUESDAY, AUGUST 5TH
- THURSDAY, AUGUST 7TH

The Cushman & Wakefield Northern California Multifamily Capital Markets Team is pleased to offer for sale, 2036-2038 Ascot Drive.

This offering presents a rare opportunity to acquire a six-unit value-add multifamily investment property in the highly desirable Town of Moraga, CA. Moraga is recognized as one of Contra Costa County’s premier communities, with top-rated schools, exceptional quality of life, and outstanding demographics — including an avg. household income of $262,781. Ranked the #1 Best Place to Live in Contra Costa County by Niche.com in 2025, Moraga continues to attract high-income families and professionals who value its safe neighborhoods and excellent public education system.

The property will be delivered with four vacant units, providing immediate upside potential for an investor to complete interior upgrades and lease the units at top-of-market rents. In addition, the large unit mix — including a spacious 3-bedroom, 2.5-bath residence — offers strong appeal to owner/occupiers and family renters seeking more living space. The Property also features a community pool, ample assigned parking, a large storage closet for each unit, and an on-site, coin-operated laundry facility. With no local rent control ordinance in Moraga, investors benefit from greater flexibility to reposition and optimize rents subject to statewide limits.

Further enhancing the opportunity is the potential for condominium conversion, supported by strong area condo pricing with 3-bedroom units averaging over $1.09 million and 2-bedroom units averaging nearly $867,000 since mid-2024. The property may also support Accessory Dwelling Unit (ADU) additions, increasing the overall unit count and revenue potential. Moreover, Moraga’s multifamily pipeline remains extremely constrained, with no projects currently under construction and only two projects totaling 189 units in the entitlement process, ensuring limited future competition.

Ideally located just steps from Moraga Road, the property offers convenient access to shopping centers, local amenities, and major Bay Area employment hubs via Highway 24 and nearby BART connections. This combination of a supply-constrained market, high-income demographics, excellent schools, and multiple value-add strategies makes this an outstanding investment opportunity in one of the East Bay’s most desirable suburban communities.