February 10, 2020-The Pinza Group, the leading East Bay Multifamily Sales Brokerage, has announced the sale of a five unit multifamily building located at 518 28th St in Oakland, CA. Steven Pinza, Esq. had the exclusive listing on behalf of the Seller, and also represented the Buyer. The property sold for $1,700,000.
The well-balanced unit mix has something to offer a wide range of tenants, from 1bd/1bth to 3bd/2bth units. Three units have been renovated with high-end appliances, fixtures, and finishes, further enhancing its marketability. RUBS (Ratio Utility Billing System) has just been implemented to reimburse owner utility costs and dramatically reduce operating expenses. Further there is onsite storage which are rented for additional income.
Oakland’s charming, walkable Pill Hill neighborhood is the medical heart of this Bay Area city. Major hospitals, such as Alta Bates and Samuel Merritt, as well as numerous doctor’s offices and pharmacies populate the neighborhood, hence the name. Apartments front tree-lined streets, less than two miles from downtown Oakland. Outdoor relaxation is within easy reach at Lake Merritt, Oakland’s famed city park, which is less than two miles from Pill Hill. Rated a Walker’s Paradise, it’s just blocks away from major medical employers, shopping, services, and nightlife.