1290 26th Ave - Apartments FOR SALE


Oakland, CA 94601- Fruitvale
$3,695,000 USD
510-926-8771
1290 26th Ave, Oakland, CA for Sale
$3,695,000 USD
Apartments - FOR SALE
1/17
null | 7.49% Cap Rate

1290 26th Ave
Oakland, CA 94601
Fruitvale


HIGHLIGHTS

  • 24 Units Comprised of Nineteen Studios, Two 1bd/1bth Units, and Three Retail Spaces Built in 1925
  • Excellent Value Add Mixed Use Property w/ Multiple Vacant Units to Renovate and All Major Upgrades Completed
  • Improvements Include Updated Electrical Panels, Boiler Replaced w/ Low Cost Heating, Multiple Renovated Units, and Upgraded Fire Alarm System
  • Full Size Basement for Parking Garage Conversion
  • Three Commercial Units may be Converted to Live/Work Apartments
  • Incredible Seller Financing Terms Available to Qualified Buyers - 4% IO for 7 Years Fixed

OVERVIEW

24-unit mixed-use investment featuring a unit mix of nineteen studios, two 1bd/1bth units, and three retail spaces. Excellent seller financing is available with only 3.0% down payment (97% LTV), 4.0% Interest Only, and a 7-year term. The property was originally built in 1925, offers 12,420 square feet of rental space, and offers a large basement perfect for building additional units. Many capital improvements have been completed including a new fire alarm system, electrical upgrades, boiler replaced, remodeled units, and more. The units have been remodeled over time and offer newer kitchens, bathrooms, upgraded electrical and plumbing, new flooring, newer exterior and interior paint, and more. The exterior and interior are in great condition with very little deferred maintenance resulting in an attractive turn-key investment for the next owner. The property is near many restaurants, coffee shops, and many different shopping options. The property borders the neighborhoods of Fruitvale and East Lake and is only three miles from Downtown Oakland and about 14 miles to Downtown San Francisco. ****EMAIL DAVID@PINZAGROUP.COM FOR A COMPLETE MARKETING PACKAGE AND PRIVATE SHOWING.

FOR SALE DETAILS

PRICE

$3,695,000 USD

PRICE/SF

$298 USD /SF

# OF UNITS

24

PRICE/UNIT

$153,958

CAP RATE

7.49%

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

92% LTV Seller Financing at 4% IO for 7 Years

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Manufactured Housing/Mobile Housing, Dormitory

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1925

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,971 SF

ZONING

CN-3

APN/PARCEL ID

025-0744-001-00

ASK ABOUT THIS PROPERTY

Steven PinzaPinza GroupMore Info
510-926-8771

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Steven PinzaPinza GroupMore Info
510-926-8771

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.