$3,000,000 | 12 Units | Albany, CA 

Just Listed


937-941 Solano Ave, Albany CA

$250,000

Price per Unit

14.6

GRM

3.7%

Cap Rate

7,122

Square Feet

Originally constructed in 1940, the property is comprised of eight (8) one-bedroom, one bath units and four (4) two-bedroom, one bath units that average approximately 588 square feet. The Property is three stories with parking, laundry rooms and utility rooms on the first floor and residential units on the second and third floors. There are 10 private garages with the ability to park seven additional cars in front of the garages. We encourage prospective buyers to explore adding Accessory Dwelling Units (ADUs) in the garages to create additional revenue.


The average in-place rent is $1,423, while market data suggests renovated market rents in this location are $1,950 for one-bedrooms and $2,400 for two-bedrooms, respectively.


The Property is ideally located just three blocks from Solano Avenue’s retail district that offers over 50 dining establishments along with many shops and professional offices. Solano Avenue is one mile long and spans two cities, Albany and Berkeley. There are also two nearby BART stations, El Cerrito Plaza (1.1 miles) and North Berkeley (1.9 miles), which offers convenient to residents commuting around the Bay Area.