Seller Fin. Avail-7 Unit Converted MF Complex
7 Unit Apartment Building | $1,150,000 ($164,286/Unit) | 6.60% Cap Rate | Rodeo, CA 94572
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,150,000
- Property Type
-
Multifamily
- Square Feet
- 4,942 SF
Listing Contacts
Davide Pio
Verified Profile
- Property Info
Property Overview
Davide F. Pio is proud to present 516 and 524-528 1st Street in Rodeo, CA for sale. The two (2) parcels can be purchased separately or jointly for a total of seven (7) units. 516 1st St has a total of four (4) living units consisting of (2) 2 bed / 1 bath, (1) 1 bed / 1 bath, and (1) studio unit and a shed in the rear. 524-528 1st St consists of a small office space, (1) 3 bed / 1 bath unit with a sizable back yard, (1) 2 bed / 1 bath unit, a storage space, and 2 car garage.
Seller financing allows for flexibility for an investor to acquire the asset which has had most units updated. Along with rent growth in this desirable East Bay suburb, the buyer can update the electric/gas systems to more accurately distribute and pass on expenses to the tenants.
Located in quaint downtown Rodeo, the property is located in proximity to local businesses as well as San Pablo Bay. A short drive provides quick access to Highway 80 allowing easy connects to Vallejo, Berkeley, Oakland and San Francisco.
Seller financing allows for flexibility for an investor to acquire the asset which has had most units updated. Along with rent growth in this desirable East Bay suburb, the buyer can update the electric/gas systems to more accurately distribute and pass on expenses to the tenants.
Located in quaint downtown Rodeo, the property is located in proximity to local businesses as well as San Pablo Bay. A short drive provides quick access to Highway 80 allowing easy connects to Vallejo, Berkeley, Oakland and San Francisco.
Property Details
- Class
- C
- Year Built
- 1949
- Stories
- 1
- Property Subtype
- Storefront Retail/Residential, Office/Residential
- Lot Size (sq. ft)
- 15,246 SF
- Units
- 7
Highlights
- Attractive Seller Financing: Owner open to seller financing with 40%+ down, 25 year amortization for a term of no longer than 3 years.
- Varying Unit Mix: (1) 3 bed / 1 bath, (3) 2 bed / 1 bath, (1) 1 bed / 1 bath, a non conforming studio and small occupied office.
- Upside in Utility Separation: Most units have combined utility bills and are not being billed properly. RUBS can be implemented.
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