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$3,200,000
Est. payment /mo
0.35 Acres Lot
UPDATED:
12/24/2024 01:59 AM
Key Details
Property Type Multi-Family
Listing Status Pending
Purchase Type For Sale
Subdivision North Bal
MLS Listing ID 41058446
HOA Y/N No
Year Built 1960
Annual Tax Amount $45,402
Lot Size 0.349 Acres
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
Interior
Heating Natural Gas, Wall Furnace
Fireplace No
Appliance Gas Water Heater
Exterior
Total Parking Spaces 14
Others
Tax ID 77E160633,4
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Listed by Joseph Owens • Marcus & Millichap