Oakland, CA – The Pinza Group, the leading East Bay Multifamily Sales Brokerage, has announced the sale of a seven unit multifamily building located at 1009 Macarthur Blvd in Oakland, 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 two weeks. The property sold for $1,000,000 which was over a 6% CAP rate.
1009 Macarthur Blvd is a pride of ownership, seven unit multifamily building in the heart of Cleveland Heights. The property boasts a strong unit mix of four 1bd/1bth units of approximately 700 square feet, and three studios of approximately 500 square feet.
1009 Macarthur Blvd is conveniently located near Interstate 580, and AC Transit bus lines serve the neighborhood. Residents can access parks, shops, and restaurants in the nearby Lakeshore, Grand Lake, and Glenview neighborhoods. The property presents a re-positioning opportunity for the next owner to capture significant upside in rents. The outside architecture of the building is stunning. The building is of wood frame construction, with a concrete perimeter foundation. The property has lush, mature landscaping in the front which provides for a tranquil, private setting tenants enjoy. The property is less than two miles to the Lake Merritt BART station and other nearby transportation. The property is mere blocks to Oakland’s finest dining, shopping, and popular local attractions. Further, tenants can walk one block to Lake Merritt to enjoy part of Oakland’s finest scenery.
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.