• Confidential Asking Price: $2,200,000
• Features Six (6) Cottage Style Units, Including Two (2) 2bd/1bth Units and Four (4) 1bd/1bth Units on an Expansive 15,000 SF Lot
• Each Unit is Separately Metered for Gas and Electricity, and Water - Tenants Pay all Utilities, Keeping Owner Expenses to a Minimum
Features Beautifully Updated Kitchens and Bathrooms with Newer Appliances, Hardwood Flooring, Laundry Machines in Each Unit, and a Covered Carport for Convenient Parking
• Prime San Leandro Location: Located Close to Major Highways, Public Transportation, Coffee Shops, Popular Restaurants, and Parks
• Qualified Investors can Take Advantage of a Unique Opportunity with Assumable $1.5M Seller-Carry Financing at Only 5% Fixed Rate for 10 Years

Property Overview

• The Pinza Group is pleased to present 1265 147th Ave in San Leandro, CA. This property presents six spacious cottage- style units, comprising two generous 2-bedroom/1- bathroom units and four inviting 1-bedroom/1-bathroom units, catering to various living preferences. Situated on a sprawling 15,000-square-foot lot, the potential for future development is vast, allowing you to unlock even more value in this prime location. What sets this property apart is its thoughtful design, with each unit separately metered for gas and electricity. This not only provides convenience for tenants but also significantly minimizes owner expenses. Moreover, the property is meticulously well-maintained, ensuring that it stands as a testament to quality and longevity. Currently, all units are fully occupied, making it a sound investment choice from day one. To sweeten the deal, take advantage of seller-carry financing terms, offering an attractive 5% interest rate for ten years.

• 1265 147th Ave in San Leandro, CA, is situated in a convenient and accessible location, surrounded by a host of amenities. This residential address offers residents easy access to a variety of shopping and dining options, with the Bayfair Center just a short drive away, featuring a range of stores and restaurants. Nature enthusiasts will appreciate its proximity to scenic parks like Lake Chabot Regional Park and Marina Park, perfect for outdoor activities and relaxation. Additionally, the nearby San Leandro BART station ensures excellent connectivity to the greater San Francisco Bay Area, making it an ideal spot for those looking for a balance of suburban tranquility and urban convenience.

OFFERING SUMMARY
COUNTY: Alameda
BUILDING SF: 4,292 SF
LAND SF: 15,008 SF
NUMBER OF UNITS: 6
YEAR BUILT: 1940
APN: 77D-1461-7
OWNERSHIP TYPE: Fee Simple

FINANCIAL SUMMARY
PRICE: $2,200,000
PRICE PSF: $512.58
PRICE PER UNIT: $366,667
OCCUPANCY: 99.00 %
NOI (CURRENT): $124,672
NOI (Pro Forma): $138,708
CAP RATE (CURRENT): 5.67 %
CAP RATE (Pro Forma): 6.30 %
CASH ON CASH (CURRENT): 4.01 %
CASH ON CASH (Pro Forma): 6.01 %
GRM (CURRENT): 13.41
GRM (Pro Forma): 12.22

PROPOSED FINANCING
Seller-Carry
LOAN TYPE: Amortized
DOWN PAYMENT: $700,000
LOAN AMOUNT: $1,500,000
INTEREST RATE: 5.00 %
LOAN TERMS: 10 Year Balloon
ANNUAL DEBT SERVICE: $96,625
LOAN TO VALUE: 68 %
AMORTIZATION PERIOD: 30 Years
NOTES: Fixed Rate Until 1/1/2034