1244 2nd Avenue

PROPERTY DESCRIPTION:

1244 2nd Avenue is a completely renovated 16 unit building consisting of 12 residential apartments, 3 live/work lofts and 1 commercial space.

VALUE INDICATORS:

Price: $5,395,000                    GRM: 12.28

Price/Unit: $337,188              CAP Rate: 5.20%

Price/Sq.Ft: $452                   Cash on Cash: 4.63%

HIGHLIGHTS:

• 2016 Building Certificate of Occupancy
• NO RENT CONTROL
• Structural Upgrades
• Income:  $439,260 with Immediate Upside

BUILDING DETAILS:

Units: 16               Gross Sq.Ft.: 11,928               Lot Size: 4,320

LOCATION HIGHLIGHTS:

Short Walk to Lake Merritt BART Station, 3 Blocks to Lake Merritt Pedestrian Bridge with access to Lake Merritt Amphitheater and Peralta Park, a short walk to Portal and Rockin’ Crawfish Restaurants & ACat Cafe Kalli.