815 San Pablo Ave - Apartments FOR SALE


Pinole, CA 94564
$1,600,000 USD
510-815-2000
815 San Pablo Ave, Pinole, CA for Sale
$1,600,000 USD
Apartments - FOR SALE
1/29
null | 4.48% Cap Rate

815 San Pablo Ave
Pinole, CA 94564


HIGHLIGHTS

  • Low Maintenance w Newer 2001 Construction - Pride of ownership helps keep ongoing maintenance costs low.
  • Minimal Insurance Issues - Insurance concerns alleviated with modern electric panels/wiring, sprinklered building, and balconies are already vented.
  • Gratuitous State Rental Increase - State rent control (AB 1482) allows increases of CPI + 5% (w a max of 10%). Much higher than nearby cities.
  • Potential Conversion to Add Additional Units - Commercial unit may generate more income if converted to apartments.

OVERVIEW

Cap Rate - 4.48% (Current) GRM - 13.03 (Current) Cap Rate - 4.73% (Proforma) GRM - Pro-Forma 12.60 (Proforma) Davide F. Pio proudly presents 815 San Pablo Ave in Pinole, CA for sale. The asset features four (4) apartment units, two of which are 2 beds / 1 bath and the other two are studio units, as well as an owner-occupied commercial space. The owners went above and beyond showing pride in ownership construction and meticulous maintenance since it’s completion in 2001. A 4-car garage and 5-space parking lot as well as a coin-op laundry room provide additional income. Newer construction helps keep costs low and insurance requests to a minimum. Turn key investment with upside in rents but also in the potential conversion of the commercial space (tbd by buyer). Finding an apartment in the predominantly single-family home suburbs of Pinole is difficult, and one of newer construction is even more rare. Walking distance to various restaurants, and a short drive to local establishments in nearby Hercules, El Sobrante, and other parts of Pinole. A short drive provides quick access to Highway 80 allowing easy connections to San Francisco, Berkeley, and Oakland.

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$349 USD /SF

# OF UNITS

4

PRICE/UNIT

$400,000

CAP RATE

4.48%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

4 Unit Apartment + 1 Commercial: 2001 Build

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2001

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,638 SF

ZONING

CMU

APN/PARCEL ID

402-166-024-8

ASK ABOUT THIS PROPERTY

510-815-2000

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510-815-2000

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