Multifamily

Zelma Street Apartments

Listing Price: $9,300,000

Cap Rate
4.99%
Number of Units
31
GRM
12.60
Occupancy
97.50%
Price/Unit
$300,000
Price/Gross SF
$376.67
Gross SF
24,690

Investment Overview

Zelma Apartments is a 31-unit apartment community located in the Washington Manor neighborhood of San Leandro, California. The property has undergone extensive renovations with recent capital improvements that include seismic retrofit, a new roof, and new exterior paint. The property's convenient location provides access to shops, restaurants, and outdoor parks, as well as easy access to Interstate 880.

The asset consists of 3 three-bedroom/one-bathroom units, 27 two-bedroom/one-bathroom units, 1 one-bedroom/one-bathroom and one studio unit. Units enjoy a balcony with some units offering a view of the adjacent Washington Manor Park and Aquatic Center. In addition, tenants have access to a shared laundry room and secured parking.

Investment Highlights

  • 31 Gated Parking Stalls and Eight Guest Parking
  • Adjacent to Washington Manor Park and Aquatic Center
  • Seismic Retrofit, New Exterior Paint and New Roof (2019)
  • Unit Mix of (2) x 3BD's, (27) x 2BD's, (1) x 1BD, x (1) x Studio

Exclusively Listed By

Listing Price: $9,300,000

Cap Rate
4.99%
Number of Units
31
GRM
12.60
Occupancy
97.50%
Price/Unit
$300,000
Price/Gross SF
$376.67
Gross SF
24,690

Investment Highlights

  • 31 Gated Parking Stalls and Eight Guest Parking
  • Adjacent to Washington Manor Park and Aquatic Center
  • Seismic Retrofit, New Exterior Paint and New Roof (2019)
  • Unit Mix of (2) x 3BD's, (27) x 2BD's, (1) x 1BD, x (1) x Studio

Investment Overview

Zelma Apartments is a 31-unit apartment community located in the Washington Manor neighborhood of San Leandro, California. The property has undergone extensive renovations with recent capital improvements that include seismic retrofit, a new roof, and new exterior paint. The property's convenient location provides access to shops, restaurants, and outdoor parks, as well as easy access to Interstate 880.

The asset consists of 3 three-bedroom/one-bathroom units, 27 two-bedroom/one-bathroom units, 1 one-bedroom/one-bathroom and one studio unit. Units enjoy a balcony with some units offering a view of the adjacent Washington Manor Park and Aquatic Center. In addition, tenants have access to a shared laundry room and secured parking.

Exclusively Listed By

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