$3,400,000
1461 150Th Ave San Leandro, CA 94578
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Listed by Joseph Owens • Marcus & Millichap
$3,400,000
Est. payment /mo
9,492 SqFt
Pending
1461 150Th Ave San Leandro, CA 94578
UPDATED:
09/28/2024 07:20 AM
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Pending
Purchase Type For Sale
Square Footage 9,492 sqft
Price per Sqft $358
Subdivision North Bal
MLS Listing ID 41058446
HOA Y/N No
Originating Board Bridge AOR
Year Built 1960
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: 5.38% (7.66% Market) / GRM: 12.00 (9.32 Market). Cash on Cash estimated at 2.60% in Year 1 to grow to an estimated 15.03% over 10-year hold.
Location
State CA
County Alameda
Interior
Heating Natural Gas, Wall Furnace
Cooling Ceiling Fan(s)
Flooring Vinyl, Carpet
Fireplace No
Appliance Gas Water Heater
Laundry Coin Operated, Community Facility, Laundry Equip - Leased
Exterior
Parking Type Covered, Space Per Unit - 1, Uncovered Park Spaces 2+
Building
Lot Description Regular, Landscape Front
Water Public
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