1461 150Th AveSan Leandro, CA 94578

This exceptional investment opportunity presents a 14-unit apartment building located in San Leandro, California. Comprising two separate, seven-unit buildings situated on individual parcels (APN: 77E-1606-3-4, 77E-1606-3-3), this two-story complex, built in 1960, offers a total of 9,480 net rentable square feet. The property boasts 100% occupancy and a current NOI of $184,625, translating to a 5.77% cap rate. A pro-forma NOI of $262,613 projects an 8.21% cap rate, highlighting significant value-add potential. The asking price is $3,200,000, or $228,571.43 per unit, and $337.13 per square foot. The property includes 12 covered and 2 surface parking spaces, along with a convenient community laundry room. Well-maintained over three decades, the property benefits from a strong unit mix of eight two-bedroom and six one-bedroom units. This offering is ideal for a 1031 exchange. The property's location within the Bay Fair TOD Specific Plan, near Bayfair Center and East 14th Street improvements, promises enhanced neighborhood appeal and improved BART access. Significant upside potential exists through modernization of the exterior and common areas, and unit renovations upon turnover.