Multifamily

1991 Bancroft

1991 Bancroft Ave, San Leandro, CA 94577

Listing Price: $2,525,000

Cap Rate
4.39%
Number of Units
6
Occupancy
100.00%
Price/Unit
$420,833
Price/Gross SF
$286.15
Gross SF
8,824

Investment Overview

1991 Bancroft is a six-unit building located in downtown San Leandro, built in 1958 by the same family that owns the building today. There are five residential units in the building and a 2,758 square foot dance studio. The residential units consist of three two-bed/one-bath units, one three-bed/two-bath unit, and one single family residence with two beds and one bath. The 2,758 square foot dance studio has six years remaining on the current lease and has recently made a significant investment into new flooring for the studio. The studio rent increases by 24 percent in 2021 and 22 percent in 2022, allowing an investor scheduled cash flow growth over the first two years.

Investment Highlights

  • Excellent downtown San Leandro location. One mile to San Leandro BART, San Leandro Tech Campus and all of the retail, entertainment, and restaurant options of downtown.
  • Same family ownership since construction in 1955
  • 2,758 square foot dance studio with six years remaining on lease. Tenant just made significant investment in updating flooring. Rent increases 24% in 2021, 22% in 2022.

Exclusively Listed By

Listing Price: $2,525,000

Cap Rate
4.39%
Number of Units
6
Occupancy
100.00%
Price/Unit
$420,833
Price/Gross SF
$286.15
Gross SF
8,824

Investment Highlights

  • Excellent downtown San Leandro location. One mile to San Leandro BART, San Leandro Tech Campus and all of the retail, entertainment, and restaurant options of downtown.
  • Same family ownership since construction in 1955
  • 2,758 square foot dance studio with six years remaining on lease. Tenant just made significant investment in updating flooring. Rent increases 24% in 2021, 22% in 2022.

Investment Overview

1991 Bancroft is a six-unit building located in downtown San Leandro, built in 1958 by the same family that owns the building today. There are five residential units in the building and a 2,758 square foot dance studio. The residential units consist of three two-bed/one-bath units, one three-bed/two-bath unit, and one single family residence with two beds and one bath. The 2,758 square foot dance studio has six years remaining on the current lease and has recently made a significant investment into new flooring for the studio. The studio rent increases by 24 percent in 2021 and 22 percent in 2022, allowing an investor scheduled cash flow growth over the first two years.

Exclusively Listed By

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