0.35 acres | #41056680
Description
Cap Rate - 8.53% (Current) | GRM - 6.32 (Current) vs Cap Rate - 9.62% (Proforma) | GRM - 6.16 (Proforma). TO BE SOLD IN CONJUNCTION W 524-528 1st St. Two (2) parcels can be purchased jointly for a total of seven (7) units. 516 1st St has a total of four (4) living units consisting of (2) 2 bed / 1 bath, (1) 1 bed / 1 bath, and (1) studio unit and a shed in the rear. 524-528 1st St consists of a small office space, (1) 3 bed / 1 bath unit with a sizable back yard, (1) 2 bed / 1 bath unit, a storage space, and 2 car garage. Seller financing allows for flexibility for an investor to acquire the asset which has had most units updated. Along with rent growth in this desirable East Bay suburb, the buyer can update the electric/gas systems to more accurately distribute and pass on expenses to the tenants. Located in quaint downtown Rodeo, the property is located in proximity to local businesses as well as San Pablo Bay. A short drive provides quick access to Highway 80 allowing easy connects to Vallejo, Berkeley, Oakland and San Francisco.
Property Details
- Property SubtypeResidentialIncome
- Property TypeMulti-Family
- CountyContra Costa
- Lot DescriptionStreetLevel
- Original List Price$1,150,000
- MLS #41056680
- MLS #41056680
- Taxes Annual$19,269
- Acres0.3548
- Cost975000
- Year Built1949
Location
Legal
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Last Updated:Â . Source: CRMLS
Listing Courtesy
Listing Agent: Davide Pio (#CCBE-213502386)
Listing Office: BCRE (#CCBE-CCWBBQD)
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