$2,900,000 | 14 Units | San Leandro, CA
1500-1526 162nd Ave, San Leandro CA
Price per Unit
Colliers and Compass are pleased to present the opportunity to acquire 1500-1526 162nd Avenue, a 14-unit multifamily community, located in the East Bay city of San Leandro, California.
Originally constructed in 1950, the property contains 14 one-bedroom, one-bathroom units that average approximately 535 square feet. All units are single-story and include an attached one-car garage and in-unit washer and dryer. There is also an opportunity to create private backyards for each of the units. One unit will be delivered vacant at the close of escrow.
While the average in-place rent is $1,324, market data suggests rents for comparable units with a one-car garage, in-unit washer and dryer and backyard space are $1,950, which is approximately 47% rental upside.
The property is located less than one mile from the Bay Fair BART Station and Bayfair Shopping Center, an 800,000 square foot regional center that includes retailers such as Target, BevMo, Kohl’s and more.