COOPERATING WITH ALL BROKERS!
This portfolio of 181 units plus an entire city block of 43 garages is located on the same block in the Fruitvale area made up of mostly blue-collar Hispanics.
The total mean cap rate is 7.5%. The buildings are completely renovated with great management in place. One of the buildings has a waiver of Ad Valorem property taxes and all buildings have 30% upside in the rents. The buildings can be sold separately, but a portfolio sale if preferred. They have a great unit mix of studios, 1 and 2 bedrooms with parking. It is walking distance to Fruitvale BART Station. There is no deferred maintenance. All Buildings are individually metered for gas and electric. The buildings are well constructed marina style buildings with electrical upgrades and new roofs in some and sewer lateral and soft story work done in others. Seller is ready to make a deal and is very motivated.