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Listed by Davide Pio • BCRE
$1,400,000
Est. payment /mo
5,495 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 5,495 sqft
Price per Sqft $254
Subdivision Clinton
MLS Listing ID 41113160
HOA Y/N No
Year Built 1962
Lot Size 7,500 Sqft
Property Sub-Type 5 or More Units
Source CONTRA COSTA
Property Description
Cap Rate - 6.49% (Current) | GRM - 8.78 (Current) | Cap Rate - 8.54% | (Proforma) | GRM - 7.28 (Proforma) 2244 12th Avenue features seven (7) units, all of which are large 2 beds / 1 bath. The property has been well-maintained and upgraded over the years. Improvements include city-required point of sale ordinances such as sewer lateral replacement, fire inspection compliance, sidewalk, and removal of the soft story list. A 2-car garage and small parking lot in addition to a leased laundry room provide additional income. The property allows for both a turn-key investment with upside upon light remodels in some units enabling higher rents. Located on the Clinton / Bella Vista neighborhood border, the property is located in proximity to local businesses just east of Lake Merritt. A short drive provides quick access to Highway 580 or 880 allowing easy connects to San Francisco, Berkeley, and Silicon Valley.
Location
State CA
County Alameda
Interior
Heating Wall Furnace
Cooling None
Flooring Other
Fireplace No
Laundry Coin Operated, Common Area, Dryer, Laundry Room, Laundry Equip - Leased
Building
Lot Description Corner Lot
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Sammy Shrimali
Broker Associate | License ID: 01009299
Broker Associate License ID: 01009299