4-unit mixed-use investment with excellent income upside and a variety of repositioning options. The current cap rate is 6.17% and the current GRM is 11.35 The offering includes a packaged sale of 3617 San Leandro St and 916 36th Ave in Oakland. 3617 San Leandro St is zoned for a light industrial and features one 2bd/1bth unit, one 1bd/1bth unit, a small retail space, and a large 3,500 sqft warehouse. The warehouse is connected to 916 36th Ave which is a tenant-occupied 2bd/1bth single-family home. The combined rental area for both buildings is 4,125 square feet with an approximate combined lot size of 11,350 square feet. The property is easy to manage and is separately metered for PG&E, with past tenants paying all water and garbage expense, providing for low future annual operating expenses. The entire property may be able to be delivered vacant with the exception of possibly one unit at 3671 San Leandro St. making this an ideal investment for an owner-user, investor, or extended family.
4-unit Mixed-Use Investment with Excellent Upside
Packaged Sale of 3617 San Leandro St and 916 36th Ave
- Rare Unit Mix Featuring One 2bd/1bth Unit, One 1bd/1bth
Unit, One Retail Shop/Warehouse, and One 2bd/1bth
House
- Separately Metered For Water and PG&E with Low
Annual Operating Expenses
- Attractive Oakland Location Near Downtown Oakland,
BART, Lake Merritt, and Variety of Restaurants, Coffee
Shops, and Shopping Centers
- Property Delivered 75% Vacant; Perfect for Owner-User,
Investor, or Extended Family
- Current Cap Rate: 6.17%, ProForma Cap Rate: 7.76%
- Current GRM: 11.35, ProForma GRM: 9.57
Feel free to contact us for more details!
The Pinza Group (DRE: 01941229)