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Additional details
Listed by Joseph Owens • Marcus & Millichap
$3,200,000
Est. payment /mo
3 Beds
2 Baths
9,492 SqFt
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 9,492 sqft
Price per Sqft $337
MLS Listing ID EB41058446
Bedrooms 3
Year Built 1960
Lot Size 0.349 Acres
Property Sub-Type Five or More Units
Source Bridge MLS
Property Description
Listing is for both 1461 & 1475 150th Ave in San Leandro. 1461 & 1475 150th consists of 14 total units, comprised of two seven-unit buildings on separate parcels. The two-story structures were built in 1960 and offer tenants 12 covered parking spaces, 2 surface parking spaces as well as a community laundry room. The building has been well maintained during the current ownership's hold period spanning more than three decades. A new owner can unlock significant upside by modernizing the already well-maintained building exterior and common areas as well as renovating units to a modern style finish on unit turnover. Cap Rate: 5.77% (8.21% Market) / GRM: 11.32 (8.77 Market). Cash on Cash estimated at 2.96% in Year 1 to grow to an estimated 17.00% over 10-year hold.
Location
State CA
County Alameda
Area Other Area
Interior
Heating Gas, Wall Furnace
Cooling Ceiling Fan
Flooring Vinyl, Carpet - Wall to Wall
Laundry Laundry Facility - Coin-Op, Washer/Dryer - Leased, Community Facility
Exterior
Exterior Feature Stucco, Wood Frame, Brick Veneer
Parking Features Spaces per Unit - 1
Garage Spaces 14.0
Building
Lot Description Regular
Sewer Sewer - Public
Water Public, Heater - Gas
Others
Tax ID 77E-160-6334
Special Listing Condition Not Applicable
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