San Leandro, Calif., May 11, 2015 – The Pinza Group, Inc, a leading Bay Area Investment Real Estate Brokerage, has announced the sale of a 15 unit apartment building located at 321 W Estudillo in San Leandro, CA. The sales price was $3,280,000 which represents a price of $218,000 per unit. This is the highest priced per unit sale in San Leandro in 2015.
Steven Pinza, Esq, President of the Pinza Group, Inc and a Top Sales Broker according to CoStar, Inc., represented the Buyer and Seller on the transaction. “The new owner acquired perhaps the most well located apartment building in all of San Leandro,” says Pinza. “The property is blocks from BART, steps from downtown, and will benefit from San Leandro’s fiber optics upgrade and new city developments” adds Pinza.
321 West Estudillo Avenue is a pride of ownership 15 unit apartment building located in the heart of downtown San Leandro. The building consists of one 2bd/2bth owner’s unit, three 2bd/1bth units, six 1bd/1bth units, and five studios. Each unit is in excellent condition and feature wall to wall carpeting, tiled kitchens and bathrooms, gas stoves, and frost free refrigerators. There is on site, coin-operated laundry owned by the landlord which creates additional monthly income. The building is on a parcel of over 12,500 square feet, and features mature landscaping, aesthetically appealing design, and ample parking. Construction is of wood frame with stucco siding on a concrete slab foundation and a flat roof, which was replaced in 2013.
“The Buyer’s were in a 1031 exchange, and I was happy to provide them this excellent opportunity off market. They closed this property only a few days after closing their upleg, which allowed them to start earning money on their investment immediately, which is really the best case scenario for anyone in an exchange” concluded Pinza.
About The Pinza Group, Inc.
Founded in 2013, The Pinza Group is an investment real estate company 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 Northern California. 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. The Pinza Group Property Management, Inc. currently manages over 20 investment properties throughout the East Bay. For more info on property management, an estimate of value, or investments visit: www.pinzagroup.com or Info@pinzagroup.com.