Castro Valley, CA – The Pinza Group, the leading East Bay Multifamily Sales Brokerage, has announced the sale of a 12 unit multifamily building located at 2568 Grove Way in Castro Valley, California. Steven Pinza, Esq (the 2014 & 2015 Top Sales Broker in the East Bay according to CoStar), President of the Pinza Group, Inc (the 2014 & 2015 Top Sales Firm according to CoStar), represented the Buyer and Seller in the transaction which Pinza sold after marketing the property for four weeks. The property sold for $3,300,000 which equates to over a 7% market CAP in a non-rent controlled city.
The property boasts a twelve large, two bedroom-one bath units. Each unit has its own enclosed car port parking spot and extra storage. There are two laundry rooms on the property which make the property more desirable for tenants while providing additional income for an investor. Rents are well below market which allowed the investor to come in and raise rents almost immediately and take advantage of the strong rental market of Castro Valley. Further, with two bedroom the investor will not have to worry about common vacancy issues associated with studios or one bedroom units. The property has lush, mature landscape, and has undergone significant renovations including but not limited to fresh paint, and interior renovations.
The property is located on a quiet residential street of apartment and single family homes, in close proximity to downtown and BART, and easy access to Highways 580 and 238. Castro Valley is well known for its central location, peaceful ambiance, and middle to upper class residents.
About The Pinza Group, Inc.
The Pinza Group, Inc was recently named as the 2014 & 2015 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. The Pinza Group is a full service real estate and property management firm located in Walnut Creek, California. Founded in 2013, The Pinza Group is a leader in investment real estate sales with over 70 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 on property management, an estimate of value, or investments visit: www.pinzagroup.com or Info@pinzagroup.com.