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    1991 Bancroft Ave

    San Leandro, CA 94577
    • $2,525,000
    • STATUS: Active
    • ON SITE: 22 days
    • ID#: 40924234
    UPDATED: 79 min ago
    $2,525,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1955
    County:
    Area:

    School Ratings & Info

    Description

    1991 Bancroft is an impressive six-unit mixed use apartment building in the highly attractive core East Bay market of San Leandro. The property was built in 1958 and consists of two buildings on one 7,500 square foot lot. The main building has 4 apartment units and one 2,758 square foot commercial space while the second building is a two bedroom single family residence. The commercial space was leased earlier this year to a local dance studio who is opening their second location. The dance studio has committed to a long term lease and recently made their own capital improvements to the space for upgraded flooring. The commercial space has scheduled increases of 24% in 2021 and 22% in 2022. This significantly increases the cash flow for a new buyer just in the first 18 months of ownership.

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    Bay East ©2020. CCAR ©2020. bridgeMLS ©2020. Information Deemed Reliable But Not Guaranteed. This information is being provided by the Bay East MLS, or CCAR MLS, or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website. This information is intended for the personal use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated at 2020-10-30T19:44:53.337.

    www.lucasgphomes.com/homes/110796536
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    1991 Bancroft Ave San Leandro, CA 94577

    • Price: $2,525,000
    • Status: Active
    • Updated: 79 min ago
    • ID#: 40924234
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    1955
    Built
    Neighborhood:
    San Leandro
    County:
    Alameda
    Area:
    San Leandro
    Property Description
    1991 Bancroft is an impressive six-unit mixed use apartment building in the highly attractive core East Bay market of San Leandro. The property was built in 1958 and consists of two buildings on one 7,500 square foot lot. The main building has 4 apartment units and one 2,758 square foot commercial space while the second building is a two bedroom single family residence. The commercial space was leased earlier this year to a local dance studio who is opening their second location. The dance studio has committed to a long term lease and recently made their own capital improvements to the space for upgraded flooring. The commercial space has scheduled increases of 24% in 2021 and 22% in 2022. This significantly increases the cash flow for a new buyer just in the first 18 months of ownership.
    Exterior Features

    Additional Misc Features None Exterior Brick VeneerStuccoWood Frame Lot Description 2 Houses / 1 LotCorner Other Units Mixed Use Parking Description Carports - 2 Or MoreGarage ParkingUncovered Park Spaces 2+ Parking Spaces Total 12 Roof Composition ShinglesTar And Gravel

    Interior Features

    Apx Sq Ft Unit1 1150 Apx Sq Ft Unit2 1664 Apx Sq Ft Unit3 1000 Apx Sq Ft Unit4 2758 Basement None Bathrooms Unit1 1 Bathrooms Unit2 2 Bathrooms Unit3 1 Bathrooms Unit4 0 Bedrooms Unit1 2 Bedrooms Unit2 3 Bedrooms Unit3 2 Bedrooms Unit4 0 Cooling Ceiling Fan(S) Flooring CarpetVinyl Heating Wall Furnace Laundry Coin OperatedCommunity Facility

    Property Features

    Annual Expense Year 2020 Annual Gross Fee Income 167106 Annual Gross Sched Income 169800 Annual Insurance Expense 2000 Annual License Expense 1280 Annual Maintenance Exp 4150 Annual Management Expense 0 Annual Miscellaneous Inc 2400 Annual Rental Inc 169800 Annual Taxes 32924 Annual Total Oper Exp 999 Annual Utility Expense 7190 Annual Vacancy Expense 5094 Building Type 5 Or More Units City Transfer Tax Yes Equipment Additional DryerWasherWater Heater Gas Existing Lease Terms None Financial Data Source BrokerOwnerProjectedProperty Manager Gross Oper Actual Inc 167106 Net Operating Income 116752 Operating Expenses ElectricGasInsuranceLicense/AdsMaintenance/RepairProperty Tax/AssessmentsTrash RemovalUtilitiesVacancy FactorWater Other Annual Expense 999 Point Of Sale Ordinance No Rent Unit1 2008 Rent Unit2 2575 Rent Unit3 2050 Rent Unit4 3500 Separate Meters ElectricGas Special Information None Tenant Pays Cable TvElectricGas Tot Bldg Sq Ft 8824 Total Deposits 999 Water Sewer Sewer System - PublicWater - Public

    Listing courtesy of Joseph Owens of .


    Bay East ©2020. CCAR ©2020. bridgeMLS ©2020. Information Deemed Reliable But Not Guaranteed. This information is being provided by the Bay East MLS, or CCAR MLS, or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website. This information is intended for the personal use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated at 2020-10-30T19:44:53.337.

     
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