Oakland, CA – The Pinza Group, the leading East Bay Multifamily Sales Brokerage, has announced the sale of eight units in Oakland’s Temescal neighborhood located at 469 40th Street. Steven Pinza, Esq. (2018’s leading multifamily real estate broker according to CoStar) represented the Buyer and Seller in the transaction, which Pinza sold off market. The property sold for $2,160,000 to an experienced Oakland investor.
The apartment buildings feature eight (8) four room one bedroom, one bath units estimated at 741 square feet. All of the units feature hardwood oak flooring throughout the living areas with a mix of flooring in the kitchens. Bathrooms boast pedestal sinks, tiled floors and wall-mounted cabinets. All of the units feature bathtubs, some claw-foot tubs, with showers.
The 469 40th Street Apartments presented the opportunity to acquire a well-situated property with tremendous upside. The Temescal neighborhood is one of the strongest rental housing submarkets in Oakland. The vacancy rate in Oakland is the lowest in the country. Located just off of I-580 and Hwy 24 and less two blocks from MacArthur BART, the property will attract commuters as well as those who work in the area.
The property presents an investor with both value-add potential and redevelopment potential. The Temescal District, which is bordered by four main transportation arteries, makes this area one of Oakland’ s best pedestrian and transit-oriented districts. Public transportation options include MacArthur BART Station (approximately ¼ mile to the west), Interstate 580 (approximately ¼ mile to the north), Highway 24 (approximately ¼ mile to the west) and Interstate 880 (approximately two-miles south).
About The Pinza Group, Inc.
The Pinza Group, Inc was recently named as the 2014, 2015, 2016, and 2017 Top Real Estate Sales Brokerage by CoStar, and is the only privately held investment real estate brokerage to receive the prestigious award in 2014, 2015, 2016, and 2017. The Pinza Group is a full service investment real estate sales firm located in Walnut Creek, California.
Founded in 2013, The Pinza Group is a leader in investment real estate sales with over 125 apartment sales in the last 24 months. The Pinza Group is an investment real estate brokerage built on a strong foundation of integrity, dedication, and experience which allows us to provide significant value to existing and future clients. Since The Pinza Group focuses exclusively on investment real estate, all of our efforts and resources are spent researching, brokering, and underwriting commercial properties in the East Bay. The Pinza Group has devoted significant resources to build an effective list of owners, investors, and brokers in the area which has allowed us to create an innovative marketing platform allowing us to deliver incredible value to both owners and investors. For more information on off market investments, an estimate of value, or for free real estate advice please visit: www.pinzagroup.com or Info@pinzagroup.com.