16277 Ashland AVE new Save Request In-Person Tour Request Virtual Tour
San Lorenzo,CA 94580
Key Details
Property Type Multi-Family
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID 225134407
HOA Y/N No
Year Built 1964
Lot Size 0.973 Acres
Acres 0.9734
Property Sub-Type 5 or More Units
Source MLS Metrolist
Property Description
For the first time in thirty years this professionally managed apartment complex is being offered for sale. Rare opportunity to acquire a turn-key collection of sixteen units in Ashland CA. Two separate buildings with eight duplex style units in each building. Seven townhome style units featuring huge +/- 936 SF two bedroom one bath units, eight single story units featuring spacious +/- 825 SF two bed one bath units, and a monster single townhome style unit boasting +/- 1,236 SF three bedroom two bath unit. Each unit comes with its own carport, washer/dryer (in unit laundry room) and large fenced backyard. Currently and consistently 100% occupied, the average tenancy at Pine Grove Apartments is 14.6 years, with seven of the sixteen tenants having over 15 years, and three having over 30 years. As a testament to its desirability, one of the current tenants has resided since 1978. Historically this property has had very high occupancy and very low turnover. Immediate upside available through the implementation of RUBS for water usage. Future upside available through annual rental increases as the current rents are as low as much as 29% below market.
Location
State CA
County Alameda
Area Hayward
Direction Sharp right onto Bertero Ave, turn right on Ashland
Rooms
Other Rooms Unit-1 Type: Apartment Approx SqFt: 936 Bedrooms: 2 Full Baths: 1 Rent: 2584 SqFt Source: Owner Unit-2 Approx SqFt: 825 Bedrooms: 2 Full Baths: 1 Rent: 2520 SqFt Source: Owner Unit-3 Approx SqFt: 1238 Bedrooms: 3 Full Baths: 2 Rent: 2740 SqFt Source: Owner
Interior
Heating Other
Cooling Other
Flooring Vinyl,Wood
Appliance Microwave
Laundry In Each Unit,Laundry Closet
Exterior
Parking Features Attached,Carport,Covered
Utilities Available Cable Available,Sewer In & Connected,Internet Available
Water Access Desc Public
Total Parking Spaces 16
Building
Lot Description None
Story 2
Foundation Slab
Sewer Public Sewer
Water Public
Schools
Elementary Schools Alameda Unified
Middle Schools Alameda Unified
High Schools Alameda Unified
School District Alameda
Others
Senior Community No
Tax ID 80C-473-35-2
Special Listing Condition Offer As Is,Other