Listed by Joseph Owens • Marcus & Millichap
Bought with Joseph Owens • Marcus & Millichap
Bought with Joseph Owens • Marcus & Millichap
$2,600,000
$3,200,000 18.8%
Est. payment /mo
9,492 SqFt
Sold on 04/29/2025
1461 150Th Ave San Leandro, CA 94578
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Key Details
Sold Price $2,600,000
Property Type Commercial
Sub Type 5 or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 9,492 sqft
Price per Sqft $273
Subdivision North Bal
MLS Listing ID 41058446
Year Built 1960
Lot Size 0.349 Acres
Property Sub-Type 5 or More Units
Property Description
Listing is for both 1461 & 1475 150th Ave in San Leandro. 1461 & 1475 150th consists of 14 total units, comprised of two seven-unit buildings on separate parcels. The two-story structures were built in 1960 and offer tenants 12 covered parking spaces, 2 surface parking spaces as well as a community laundry room. The building has been well maintained during the current ownership's hold period spanning more than three decades. A new owner can unlock significant upside by modernizing the already well-maintained building exterior and common areas as well as renovating units to a modern style finish on unit turnover. Cap Rate: 5.77% (8.21% Market) / GRM: 11.32 (8.77 Market). Cash on Cash estimated at 2.96% in Year 1 to grow to an estimated 17.00% over 10-year hold.
Location
State CA
County Alameda
Interior
Heating Natural Gas, Wall Furnace
Cooling Ceiling Fan(s)
Flooring Vinyl, Carpet
Laundry Coin Operated, Community Facility, Laundry Equip - Leased
Building
Lot Description Regular, Landscape Front
Water Public
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