San Lorenzo, CA – The Pinza Group, the leading East Bay Multifamily Sales Brokerage, has announced the sale of the Villa Granada Townhomes in San Lorenzo. David Howarth, Vice President of The Pinza Group, represented the Buyer and Seller of the property, which sold for $2,850,000.
1610 Mono Avenue in San Leandro presented a re-positioning opportunity for the next investor to have immediate cash flow with significant upside in rents. The property offered 11 2bd/1.5bth 2-story townhouse style units and one studio/1bth unit. The property offers multiple communal areas for tenants, 25 off-street parking spaces, and six garages. All units offer semi-updated kitchen and bathrooms, double-pane windows, new balconies, and in-unit washer/dryers.
The property has a history to little or no vacancies and currently is fully occupied. All units are far below market in rent, offering the next investor the opportunity to raise rents and achieve greater cash flow. Nearby renovated apartments in this area rent for over $2,000 making this a safe and profitable investment.Maintenance is low and the property is separately metered for PG&E providing for low annual expenses. The current owner has completed all of the necessary plumbing to add separate water meters for the property. The property is located in a quiet non-incorporated area in San Leandro with excellent access to HWY 580. San Leandro has benefited from significant improvements in the restaurant and retail industries over the past few years and has become one of the most desired rental markets in the East Bay.
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. Founded in 2013, The Pinza Group is a leader in investment real estate sales with over 130 apartment building 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.