Rare Contractors special with huge upside: Beautiful 1930s Mediterranean style building struck by fire. This attractive six unit building with five studios and one two bedroom has great cash flow potential with two units sustaining moderate fire damage and one unit gutted it to the studs with floor joist in good shape. The building was remodeled with permits in the mid 1980s with new foundation, new electrical panel, new sewer lateral and copper piping and electrical upgrades as well as new kitchen counters and shower stalls. This building was occupied prior to the fire with studios renting at average $1500-$1550 monthly and the two bedroom priced at $2250 monthly. The building is smoke damaged throughout however, washing down walls and using ozone odor removal machines will fully remove smoke odor. We believe the structural damage could easily be completely restored for the low six figures and the building could turn significant cash flow for the motivated builder/investor. Building comes with full architectural plans for restoration and can be modified by the new owner. Don't miss this rare opportunity to own six units at only 100k per door, half the market value pre fire! **Photos are from before and after the fire**
|
DAYS ON MARKET
|
30
|
LAST UPDATED
|
4/4/2024
|
|
YEAR BUILT
|
1923
|
COUNTY
|
Alameda
|
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
| AIR |
None |
| AIR CONDITIONING |
Yes |
| BUYER'S BROKERAGE COMPENSATION |
2.500 $ |
| CONSTRUCTION |
Stucco, Wood Siding |
| HEAT |
Floor Furnace |
| HOA DUES |
0 |
| LOT |
6250 sq ft |
| LOT DESCRIPTION |
Street Level |
| TAXES |
0 |
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Listed with BAY'S ELITE INVESTMENTS
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 4/27/24 1:20 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2024.
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