San Leandro, CA – The Pinza Group announced another sale in San Leandro, five units located at 511 Bancroft 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 in the transaction. David Howarth of The Pinza Group, represented the Seller. The property was sold off market for $1,495,000 which is the highest price per door sale in San Leandro for predominately one bedroom units.
511 Bancroft Avenue presents a great opportunity for the new Owner to have immediate cash flow with significant upside. The property offers four 1bd/1bth units, one 2bd/1bth units and five dedicated parking spaces with internal access to the building.
This 5,134 square foot multi-family property sits on a 5,981 square foot lot and was built in 1950. The building has stunning curb-appeal and all of the units are large and remodeled, with mostly long-term, stable tenants. The property has a history of little or no vacancies and many units are far below market in rent, offering the next investor the opportunity to raise rents and achieve greater cash flow. San Leandro does not have the same rent control laws as other East Bay cities allowing the next investor to raise rents after closing. There is on-site, coin-operated laundry and a backyard that offers space for the tenants to relax, BBQ, etc. This opportunity is ideal for an investor seeking a stable, low maintenance building, with substantial long-term upside.
About The Pinza Group, Inc.
In 2016, The Pinza Group sold 62 apartment buildings in the East Bay, valued at over $150,000,000, and produced over $5MM in real estate commissions. This is triple any real estate brokerage focusing on apartment buildings. Year to date through May, The Pinza Group has sold 20 apartment buildings, and has 17 apartment buildings in escrow.
The Pinza Group, Inc was recently named as the 2014 & 2015 & 2016 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. 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.
