Oakland, CA – The Pinza Group announced their third apartment building sale in Oakland in August: six units located at 1661 Fruitvale Avenue. Steven Pinza, Esq (the 2014, 2015, & 2016 Top Multifamily Sales Broker in the East Bay according to CoStar), President of The Pinza Group (the 2014, 2015, & 2016 Top Multifamily Sales Brokerage in the East Bay according to CoStar) represented the Buyer and Seller in the transaction which Pinza sold for $895,000. The property received multiple offers after a marketing period of three months.
1661 Fruitvale boasts a unit mix of four 1bd/1bth units and two 2bd/1bth units all with tremendous rental upside. There are four private, enclosed garages that are currently rented to the tenants, on site coin operated laundry, a large common area, and a private security gate. The building has all dual pane windows, and has been maintained very well. The tenants currently pay PG&E and the owner pays water and garbage.
1661 Fruitvale Ave is conveniently located in Oakland’s Fruitvale District, just steps from the Fruitvale BART Station. The Fruitvale District is one of the major retail and commercial communities of Oakland, and is home to hundreds of local businesses and the host of many cultural events. In addition, the Fruitvale District is the most racially, ethnically and culturally diverse populations in Oakland, which is one of the most diverse cities in California and the Nation. Tenants residing at the building enjoy easy access to a multitude of local shops, restaurants, and cafes.
The Fruitvale District is becoming a neighborhood of choice as it is now more physically attractive, economically vibrant and livable. The Fruitvale District is bordered by the City of Alameda, which is home to several fine dining options. Perfect for commuters, the property sits within close proximity to the Bay Area’s major transportation arteries.
