Description
3-unit apartment complex with huge development upside up to 11 units. The current unit mix consists of one 2bd/1bth unit and two 1bd/1bth units with a large garage that can accommodate the development of four new units. The property was built in 1900, offers approximately 2,200 square feet of living space, and sits on an extra-large 10,017 square foot lot. The zoning allows for a total of 11 units (9 units and two ADUs). The highest and best use will likely be to add four units in the garage and an additional 4 units in backyard and keep the current three units. The owner recently spent $150,000 to fully remodel the front two units and another $150,000 on the garage on a new foundation, etc. to prime it for development. The two remodeled units are gorgeous with all new kitchens, bathrooms, electrical, hardwood floors, custom tile, custom lighting, stainless steel appliances, in-unit washer/dryers etc. and are leased at market rates to young professional tenants. The property is easy to
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0BEDS
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0.23ACRES
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0BATHS
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01/2 BATHS
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2,166SQFT
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$415$/SQFT
School Ratings & Info
Description
3-unit apartment complex with huge development upside up to 11 units. The current unit mix consists of one 2bd/1bth unit and two 1bd/1bth units with a large garage that can accommodate the development of four new units. The property was built in 1900, offers approximately 2,200 square feet of living space, and sits on an extra-large 10,017 square foot lot. The zoning allows for a total of 11 units (9 units and two ADUs). The highest and best use will likely be to add four units in the garage and an additional 4 units in backyard and keep the current three units. The owner recently spent $150,000 to fully remodel the front two units and another $150,000 on the garage on a new foundation, etc. to prime it for development. The two remodeled units are gorgeous with all new kitchens, bathrooms, electrical, hardwood floors, custom tile, custom lighting, stainless steel appliances, in-unit washer/dryers etc. and are leased at market rates to young professional tenants. The property is easy to
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Listing provided courtesy of David Howarth of The Pinza Group, Inc: (510) 822-1331.