June 21, 2019- The Pinza Group, the leading East Bay Multifamily Sales Brokerage and 2018’s Top Multifamily Sales Brokerage in the East Bay according to CoStar, has announced the sale of another apartment building in the East Bay. The Alta Vista Apartments, located at 10900 Macarthur Blvd, sold for $4,400,000 to an experienced Buyer. Steven Pinza, Esq. represented the Buyer and Seller in the transaction, which closed within a 30 day escrow period.
The Alta Vista Apartments is a twelve-unit apartment complex two parcels from the San Leandro border. The property was built in 1988 and is not subject to rent control for future rent increases. The unit mix consists of (11) Three-Bedroom/One-Bath units and (1) Two-Bedroom/One-Bath unit. Additionally, all units are individually metered for electricity, gas & water; adding to cashflow and mitigating utility involvement. The subject property represents an opportunity for an investor to acquire a newer, turnkey property in a highly redeveloped area. Recently, over $400,000 was spent to remodel all units along with various exterior improvements.