Courtesy of: The Pinza Group, Inc | Office phone: 510-725-4775
Year Build: 1900
Square Footage: 2,166 Sq ft
Address: 1812 27Th Ave
3-unit apartment complex with development potential up to 11 units. The unit mix consists of one 2bd/1bth unit and two 1bd/1bth units with solid current cash flow and excellent long term rental upside. The property was built in 1900, offers approximately 2,200 square feet of living space, and sits on an extra-large 10,017 square foot lot. The zoning allows for a total of 11 units (9 units and two ADUs). The owner recently spent $150,000 to fully remodel the front two units and another $150,000 on the garage on a new foundation, etc. to prime it for development. The two remodeled units are gorgeous with all new kitchens, bathrooms, electrical, hardwood floors, custom tile, custom lighting, stainless steel appliances, in-unit washer/dryers etc. and are leased at market rates to young professional tenants. The property is easy to manage and separately metered for PG&E with low annual operating expenses. This is an ideal opportunity for an investor or owner-occupant who is seeking a rare development opportunity with strong current cash flow.