Property Detail

Description

Charming Victorian-style apartment property located in Alamedas highly sought after Bronze Coast neighborhood. Excellent opportunity for value-add investors. The property features a diverse unit mix consisting of (2) Studio units, (2) 1BR/1BA units, and (1) 2BR/1BA units, allowing for immediate lease up at market rents. The property delivers a 6.70% CAP RATE after occupancy of vacant units. Unit E recently renovated from a Studio unit to a true 1BR/1BA unit. Additional income potential exists through garage and off street parking, and implementation of shared laundry for units currently without in unit washer/dryers. Recent capital improvements and interior upgrades include new LVP flooring and interior paint in Unit C & D and common areas. Major electrical improvements include brand new main panels, subpanels, and replacement of existing knob-and-tube wiring. Sewer lateral inspection has also been completed.