4 properties available
The Marion Court Cottages ( The Cottages ) consist of 20 unique classic cottages, on a private cul-de-sac, that were built in 1920. The Cottages are comprised of Eighteen, 1 Bedroom/1 Bath units and Two, 2 Bedroom/1 bath units. The exteriors of The Cottages include private backyards, which are ideal for tenants with dogs, and some of the backyards have storage rooms. The interiors of The Cottages include hardwood floors, with some recent updates, such as double paned windows, granite counters, and tile bathrooms on a number of units. Two units have received significant renovations recently that have yielded $200 to $220 per month rent increases over other recent rentals, these renovations can serve as verification of new market rent levels with the upgraded unit specifications. Tenants pay for all of their own utilities; water, garbage, electricity and heat. A purchaser may be able to convert to TICs or Condos, check with the City for any limitations.
The subject property located at 2228 Encinal Avenue is a very well maintaine11-unit building located within walking distance to Alameda's Park Street shopping district and the newly renovated South Shore Shopping Center. The unit mix consists of 10, one-bedroom/one-bath units that are approximately 650 square feet and one, two-bedroom/onebath unit that is approximately 750 square feet. There is also a laundry facility on-site that provides additional income. Recent upgrades include over $150,000 of Seismic Retrofit work and $40,000 of retrofit work competed to the stairs and upgraded railings. The property has been under the same ownership for over 30 years. The current ownership has kept existing rents below market. This centrally located building allows a new investor an opportunity to acquire a very well maintained building with upside potential in rental income.
- Seller Financing Available, Fixed Rate Term w/ Interest Only Payments - Well Maintained 5 Unit Apartment Community - Great Unit Mix w/ Renovated Units - Large Lot w/ Tenant On-Site Resident Parking - 3 Detached Garage, Additional Income
*** PLEASE DO NOT DISTURB TENANTS OR ON-SITE MANAGER. CALL TO SET APPOINTMENT TO TOUR PROPERTY. *** The Central & Grand Apartments is a meticulously maintained and upgraded apartment community located on a tree-lined residential street on the edge of the highly desired Gold Coast neighborhood. The property was constructed in 1959 and consists of a U-shaped, 3-story building, with an attractively landscaped courtyard for the residents to enjoy. Built on concrete slab, the property is wood frame, with stucco exterior finish, newer double-paned windows, concrete stairs and walk-ways. The roof is flat and appears to have a Modified Bitumen membrane. There are 27 on-site parking spaces and ample street parking as well. The property is individually metered for gas and electricity. The property consists of (28) two bedroom one bath units and (2) one bedroom one bath units. The property features an attractive landscaped courtyard and an on-site laundry room for the residents. The property is individually metered for gas and electric. The property has been very well maintained and benefits from its ideal location within a short walk to shopping, local schools, and many parks.
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