Castro Valley, CA – The Pinza Group, the leading East Bay Multifamily Sales Brokerage, started off 2017 with a bang, announcing the record setting sale of the Camelot Village Townhomes in Castro Valley. The property sold for $10,500,000, which equated to $525,000 per unit, a record in Castro Valley. 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.
“The Seller interviewed all of the multifamily sales firms in the area but decided to list with The Pinza Group because we have far more apartment sales in the area than anyone, and proved to be more knowledgeable than our competitors” stated Pinza. “He was also unimpressed with the proposals, unprofessionalism, and lack of track record of other big name firms. All other firms valued his property millions of dollars lower, which goes to show how much money you could lose if you choose the wrong broker” concluded Pinza.
Built in 2007, the Camelot Village boasts 20 units comprised of 18 2bd/2.5bth townhomes and two 3bd/2.5bth townhomes. Each unit has its own washer and dryer, energy efficient appliances, one car enclosed garage, and a private rear yard. All tenants pay their own PG&E and water, thereby keeping expenses low and cash flow high. Rents are well below market which will allow the next Owner to raise rents immediately while taking advantage of Castro Valley’s hot rental market. All units offer an upscale, prestigious living experience with spacious floor plans, modern amenities, and a tranquil exterior environment that tenants enjoy. The property has beautiful landscaping that is magnificently maintained which adds to the aesthetic appeal of the property.
After close of escrow, the new Owner of the property will have five years to complete the condo conversion process (developing an HOA budget, CC&R’s, and recording the final map with the County). Once this is done, the property can be sold off individually, with nearby condos (of much older construction), selling for above $600,000. The Camelot Village Townhomes are located on a quiet residential street of apartment buildings and single family homes, in close proximity to BART, downtown, and highways 580 & 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 & 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 100 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.