Commercial For Sale | Multifamily | Apartment building / Low Rise / Garden Style / 1-3 stories high
5439 Bancroft Avenue . Fairfax Business , CA 94601
For sale 6 units apartment building.For more information please contact the listing agent, at: info@pinzagroup.com
Posted: 01/16/2020 12:26 pm
| On HOMEiZ: 1573 days |
Updated: 4 years ago
| Views: 832
Location Map
Property Type
Sold
Property Price
$850000
$850000
09/30/2019
4,800.00
Sq. Ft.
$310
2738
Contact listing agent%
0%
$0
$0
0.00
0.785%
$6673
Property Location & Description
For sale 6 units apartment building.For more information please contact the listing agent, at: info@pinzagroup.com
Rent Control
5439 Bancroft Avenue presents an opportunity for an investor to purchase six units comprised of five studios and one 2bd/1bth apartment. The units are roughly 50% below market in rents, allowing the next investor to gradually raise rents with allowed rent increases or through capital improvement pass throughs. There are additional income streams that can be created by adding on site, coin operated laundry, applying banked rent increases to the units for the last few years, and renting storage/garages.
Middle East Oakland sits as a collection of neighborhoods west of Interstate 580, including Havenscourt, Lockwood Gardens, Maxwell Park, Melrose, Millsmont, Oakmore, Ridgemont, and Seminary. The area features a variety of residential homes that have developed over 100 years. Mills College rests centrally to Middle East Oakland, with some students living within the area. Many residents choose Middle East Oakland for easy commuting access into downtown Oakland, Oracle Arena, and the Oakland International Airport. Middle East Oakland lies six miles southeast to downtown Oakland and 15 miles east of San Francisco.
6
$141667
No.
Description
No. Units
Sq. Ft.
Avg. Mo. Rent
1.
0+1 (studios)
5
450
2.
2+1
1
700
3.
4.
5.
R3
100%
Wood & Stucco
2
1965
Good
Banked Rent Increases, Ability to Add On Site Laundry, Potential Storage Income, and More Income Revenues
Freshly Painted Building, New Roof, & Four of Six Units Fully Renovated
Property Information
Sewer
Sewer System (Public)
Parking
Off-street
On-street
6
Investment Overview
Investor
Energy Efficiency
No
No Data
N/A
N/A
No
No
No
No
Neighborhood lifestyle
Urban Pioneer
More information
Listing Presented by
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