Steve Pinza Closes Six Units in Oakland for $930K

Oakland, CA – The Pinza Group announced their tenth apartment building sale in Oakland in 2017: six units located at 2401 Bartlett Street. 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 $930,000. Although Pinza had the property officially listed, he was able to procure an all cash buyer without having to go to market.

2401 Bartlett was a huge opportunity to purchase a six unit apartment building comprised of two bedroom one bath units in an up and coming Oakland area. The property has onsite laundry capabilities, private garage parking, spacious units, and will be delivered with one unit vacant. There is tremendous rental upside for the next owner to capture upon turnover or buyout.

The property has lush/mature landscaping which is easy to maintain, and is deliverable at a high yield, with both the CAP rate and cash on cash at close of escrow higher than many other comparable properties.

Oakland’s Bartlett neighborhood is a totally residential enclave full of well-kept houses and small apartment buildings. Residents enjoy a quiet home environment far from the activity closer to downtown. Just a couple of blocks east of the neighborhood, the specialty shops and restaurants lining Fruitvale Avenue can easily be reached on foot; to the east, the Dimond District offers even more unique restaurants and nightlife.

West Coast Commercial Real Estate News