Castro Valley, CA – The Pinza Group announced their sixth apartment building sale in Castro Valley in the last year: seven units located at 19935 Anita 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 $1,795,000, which represented a sub 4% CAP rate and a 16+ GRM.
19935 Anita Avenue presented a unique opportunity for the upside seeking investor. The property is located on a quiet residential street of apartment and single family homes. Anita Avenue in Castro Valley is known for its close proximity to downtown and BART, and easy access to Highways 580 and 238.
Built in 1961, this seven unit property sits on a 14,688 square foot lot with 4,902 of rentable square feet. The unique unit mix of six 1bd/1bth units and one 2bd/2bth units presents a great opportunity to raise rents immediately to market without any rent control ordinance.
Castro Valley is well known for its central location, peaceful ambiance, and middle to upper class residents. The city’s business, housing, and rental market have remained stable even in the low points in recent years. Schools in Castro Valley are among the best in the area with an average API score in the mid 860’s.