For Sale
$3,500,000

1126 Marin AveAlbany, CA 94706

8-unit apartment building, prime location

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 8-unit apartment building at 1126 Marin Avenue in Albany, CA, presents a compelling investment opportunity. Boasting 6,804 square feet on a 6,000 square foot lot, this 1975-built property offers a strong current NOI of $132,329 and a pro-forma NOI of $150,948, translating to a 3.80% cap rate and a pro-forma cap rate of 4.30%. The asking price is $3,500,000, or $437,500 per unit. Each of the eight units features two bedrooms and 1.5 bathrooms, and includes underground gated parking with a dedicated space and EV charging station for every unit. Many units have undergone extensive renovations, showcasing updated kitchens and bathrooms. Building amenities include a coin-operated laundry, a secure built-in package locker, and upgraded LED exterior and garage lighting. The property benefits from a highly desirable location, just one block from Solano Avenue's vibrant commercial district, and within easy reach of Whole Foods, Sprouts, and Trader Joe's. Excellent transit options include nearby BART stations and AC Transit bus stops. Albany's top-rated schools and lack of local rent control further enhance the investment appeal. Recent exterior and balcony work has been completed, and the property is separately metered for electricity. With a 97 Walk Score and 98 Bike Score, this meticulously maintained property offers a turnkey investment opportunity in a highly sought-after location. The property is exempt from local soft-story retrofit requirements.

Highlights

  • Albany, CA: No rent control.
  • Exempt from soft-story seismic retrofits.
  • Recently completed exterior and balcony renovations.
  • Individually metered electricity.
  • On-site coin-operated laundry facilities.
  • All-electric units.

Property Details for 1126 Marin Ave

Property type
Apartment buildings
Square Feet
6,804 SF
Year Built
1975
Units
8

Location Insight

City
Albany
County
Alameda
State
California
Latitude
37.8866947
Longitude
-122.2964653
1126 Marin Ave, Albany, California

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1126 Marin Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message