1991 Bancroft Ave - Apartments FOR SALE


San Leandro, CA 94577- Assumption Parish
$3,499,000 USD
510-506-8686
1991 Bancroft Ave, San Leandro, CA for Sale
$3,499,000 USD
Apartments - FOR SALE
1/12
null | 5.81% Cap Rate

1991 Bancroft Ave
San Leandro, CA 94577
Assumption Parish


HIGHLIGHTS

  • Mix-Use Commercial and Residential, Convenience to Downtown Retail, Schools, Bus Line, BART Station
  • Corner Lot, Two Buildings, Off Street Parking Plus Storage
  • Very Steady Tenants at Market Rate.

OVERVIEW

Outstanding six-unit mixed-use investment opportunity in a desirable Downtown San Leandro location. This fully occupied property features a diversified income stream with five residential units and one ground-floor commercial space. The residential mix includes three 2-bedroom/1-bath apartments, one 4-bedroom/2-bath unit, and a detached 3-bedroom/2-bath single-family residence fronting 584 Warren Avenue. The commercial space is occupied by an established business. Additional features include assigned off-street parking, coin-operated laundry, work shop and garage, separately metered tenant gas and electricity, and a prominent corner location. Conveniently situated near Downtown San Leandro, BART, shopping, dining, and major transportation routes. An excellent opportunity to acquire a strong-performing East Bay asset with residential and commercial income. Roof replacement 2024, some units remodeled and or upgraded.Current scheduled rents total $22,250 per month, plus approximately $150 per month in laundry income, approx $268,800 in total annual gross income. Wonderful 5.81% cap rate based on current reported operations and a 13.11 GRM. Estimated buyer-adjusted cap rate is approximately 5.47% using projected reassessed property taxes. (Property management not included, currently self-managed). *****No inspections offered by seller, please do not disturb tenants or walk on to property.

FOR SALE DETAILS

PRICE

$3,499,000 USD

PRICE/SF

$397 USD /SF

# OF UNITS

6

PRICE/UNIT

$583,167

CAP RATE

5.81%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1958

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,500 SF

ZONING

RM-1800

APN/PARCEL ID

077-0572-002-01

ASK ABOUT THIS PROPERTY

Harry CordianoFlat-Rate RealtyMore Info
510-506-8686

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Harry CordianoFlat-Rate RealtyMore Info
510-506-8686

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