El Cerrito, CA- The Pinza Group, the leading East Bay Multifamily Sales Brokerage, has announced the sale of a retail building in El Cerrito, CA located at 11157-11163 San Pablo Ave. David Howarth, Vice President of The Pinza Group, had the exclusive listing on behalf of the Seller, while Steven Pinza, Esq represented the Buyer. The property closed at the list price of $995,000 and procured multiple offers.
11157-11163 San Pablo Avenue presents an excellent opportunity for an investor to purchase a 3-unit office complex with excellent El Cerrito location and huge rental upside. There property offers an attractive corner location with a large parking lot in the rear with 13 parking spaces and a loading dock. Tenants pay for all utilities, interior repairs, and landscaping providing for low annual expenses. There is little deferred maintenance providing for a turn-key investment for the next investment. The property has a history of little or no vacancies and is currently fully occupied. Unit 11157 offers 1,200 square feet and is occupied by JC Massage Therapy who has been a tenant for over 5 years and currently has a lease through December 2021. Unit 11161 offers 1,000 square feet and is occupied by New Image Skincare who has a lease through March 2023 with annual rent increases. Unit 11167 offers 1,500 square feet and is occupied by Satou Braiding Salon and has a lease through October 2019.
The location of the property is excellent and is surrounded by numerous retail centers and restaurants. Only a few blocks away is access to HWY 80 and the El Cerrito del Norte BART station providing for a very convenient commuting location. El Cerrito has improved significantly in recent years given it’s lack of rent control and close proximity to Berkeley and San Francisco.
About The Pinza Group
The Pinza Group, Inc was named as the 2014, 2015, 2016, 2017, and 2018 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.