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Multifamily

341 Castro

341 Castro St, San Leandro, CA 94577

Listing Price: $1,995,000

Cap Rate
4.61%
Number of Units
5
Occupancy
100.0%
Price/Unit
$399,000
Price/Gross SF
$456.10
Gross SF
4,374

Investment Overview

All five of the units have been fully renovated over the previous couple of years. Renovations include brand new kitchens with new cabinets, stainless steel appliances, granite counters and backsplashes as well as hardwood-style flooring on the first floor and wall-to-wall carpet upstairs. A ratio utility billing system has been implemented at the property to control utility usage and offset utility expenses. Tenants also have access to extra storage lockers as well as a community laundry room. Meaningful additional revenue is already in place from utility reimbursement, storage, and laundry. San Leandro has been proactive in reshaping the downtown as a Next-Gen city. Some of the major elements of these changes include lifestyle amenities like restaurants, breweries, and gathering places nearby to places of employment in downtown San Leandro. The San Leandro Bart station and adjacent San Leandro Tech Campus have been a core part of this vision combined with LIT (the fiber optic network encircling the city). 341 Castro Street is just 0.5 miles from the epicenter of this resurgence and is ideally located to San Leandro’s bright future.

Investment Highlights

  • All Five Units have been Fully Renovated
  • Significant Current Additional Income from Utility Reimbursement, Storage, and Laundry
  • Highly Attractive Two-Bedroom Floorplans with Four Townhouse Layouts

Exclusively Listed By

Multifamily

341 Castro

Listing Price: $1,995,000

Cap Rate
4.61%
Number of Units
5
Occupancy
100.0%
Price/Unit
$399,000
Price/Gross SF
$456.10
Gross SF
4,374

Investment Highlights

  • All Five Units have been Fully Renovated
  • Significant Current Additional Income from Utility Reimbursement, Storage, and Laundry
  • Highly Attractive Two-Bedroom Floorplans with Four Townhouse Layouts

Investment Overview

All five of the units have been fully renovated over the previous couple of years. Renovations include brand new kitchens with new cabinets, stainless steel appliances, granite counters and backsplashes as well as hardwood-style flooring on the first floor and wall-to-wall carpet upstairs. A ratio utility billing system has been implemented at the property to control utility usage and offset utility expenses. Tenants also have access to extra storage lockers as well as a community laundry room. Meaningful additional revenue is already in place from utility reimbursement, storage, and laundry. San Leandro has been proactive in reshaping the downtown as a Next-Gen city. Some of the major elements of these changes include lifestyle amenities like restaurants, breweries, and gathering places nearby to places of employment in downtown San Leandro. The San Leandro Bart station and adjacent San Leandro Tech Campus have been a core part of this vision combined with LIT (the fiber optic network encircling the city). 341 Castro Street is just 0.5 miles from the epicenter of this resurgence and is ideally located to San Leandro’s bright future.

Exclusively Listed By

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