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Multifamily

2924 Santa Clara Ave

2924 Santa Clara Ave, El Cerrito, CA 94530

Listing Price: $1,600,000

Cap Rate
2.78%
Number of Units
4
Occupancy
97.0%
Price/Unit
$400,000
Price/Gross SF
$485.73
Gross SF
3,294

Investment Overview

Marcus & Millichap is pleased to offer for sale 2924 Santa Clara Avenue, a four-unit apartment building perfectly located in El Cerrito, California. Nestled in a quiet neighborhood, this 3,294 square foot asset is comprised of four two-bedroom/one-bathroom units. Built in 1960, each unit is approximately 824 square feet. The property also features two tuck-under parking areas that include one storage room for each unit as well as a laundry room. Residents enjoy a beautiful secluded garden that wraps around the back side of the building. With in-place rents that are approximately 30 percent below market rate, there is potential to optimize returns upon unit turnover or rental increase. The property is conveniently located just blocks from El Cerrito Plaza, San Pablo corridor, and Solano Avenue, which all provide a variety of retail options including Trader Joes, Home Depot, Walgreens, Starbucks, Panda Express, Burger King, Ross, Ace Hardware, and much more. Just a few minutes from El Cerrito Plaza BART Station, as well as Highways 80 and 580, tenants have convenient access to major employment areas in the Bay Area.

Investment Highlights

  • Pride of Ownership Building on Corner Parcel
  • Spacious Two-Bedroom/One-Bath Floorplan
  • Four Covered Parking Spaces + Four Individual Storage Units
  • On-Site Coin-Operated Laundry Room
  • Three Minutes to El Cerrito Plaza BART + Easy Access to Highways 80 and 580
  • Close Proximity to Various Shopping and Dining
  • Tremendous Rental Upside Potential

Exclusively Listed By

Multifamily

2924 Santa Clara Ave

Listing Price: $1,600,000

Cap Rate
2.78%
Number of Units
4
Occupancy
97.0%
Price/Unit
$400,000
Price/Gross SF
$485.73
Gross SF
3,294

Investment Highlights

  • Pride of Ownership Building on Corner Parcel
  • Spacious Two-Bedroom/One-Bath Floorplan
  • Four Covered Parking Spaces + Four Individual Storage Units
  • On-Site Coin-Operated Laundry Room
  • Three Minutes to El Cerrito Plaza BART + Easy Access to Highways 80 and 580
  • Close Proximity to Various Shopping and Dining
  • Tremendous Rental Upside Potential

Investment Overview

Marcus & Millichap is pleased to offer for sale 2924 Santa Clara Avenue, a four-unit apartment building perfectly located in El Cerrito, California. Nestled in a quiet neighborhood, this 3,294 square foot asset is comprised of four two-bedroom/one-bathroom units. Built in 1960, each unit is approximately 824 square feet. The property also features two tuck-under parking areas that include one storage room for each unit as well as a laundry room. Residents enjoy a beautiful secluded garden that wraps around the back side of the building. With in-place rents that are approximately 30 percent below market rate, there is potential to optimize returns upon unit turnover or rental increase. The property is conveniently located just blocks from El Cerrito Plaza, San Pablo corridor, and Solano Avenue, which all provide a variety of retail options including Trader Joes, Home Depot, Walgreens, Starbucks, Panda Express, Burger King, Ross, Ace Hardware, and much more. Just a few minutes from El Cerrito Plaza BART Station, as well as Highways 80 and 580, tenants have convenient access to major employment areas in the Bay Area.

Exclusively Listed By

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