$475,000 CASH ONLY! $79,000/Door Rare Contractors special w/ huge upside: Beautiful 1930s Mediterranean style building struck by fire. Attractive six unit building w/ five studios and one two bedroom has great cash flow potential with two units sustaining moderate fire damage and one unit gutted it to studs w/ floor joist in good shape. Building was remodeled w/ permits in mid 1980s w/ new foundation, new electrical panel, new sewer lateral and copper piping and electrical upgrades as well as new kitchen counters and shower stalls. Building was occupied prior to fire w/ studios renting at average $1500-$1550 monthly and two bedroom priced at $2250 monthly. Building is smoke damaged throughout however, washing down walls and using ozone odor removal machines should remove smoke odor. We believe structural damage could easily be completely restored without a huge financial burdent and building could turn significant cash flow for motivated builder/investor. Building comes w/ full architectural plans for restoration and can be modified by new owner. Don't miss this rare opportunity to own six units at only $79k per door, 1/3 of Market Value Pre-Fire! **Photos are from before and after the fire**
|
DAYS ON MARKET
|
42
|
LAST UPDATED
|
5/2/2024
|
|
YEAR BUILT
|
1923
|
COUNTY
|
Alameda
|
|
STATUS
|
Pending
|
PROPERTY TYPE(S)
|
Residential Income
|
|
Prior to Apr 29, '24
|
$650,000
|
| Apr 29, '24 - Today |
$475,000 |
| AIR |
None |
| AIR CONDITIONING |
Yes |
| BUYER'S BROKERAGE COMPENSATION |
2.500 $ |
| CONSTRUCTION |
Stucco, Wood Siding |
| HEAT |
Floor Furnace |
| HOA DUES |
0 |
| LOT |
6250 sq ft |
| LOT DESCRIPTION |
Street Level |
| TAXES |
0 |
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Listed with BAY'S ELITE INVESTMENTS
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 5/8/24 7:35 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2024.
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