ASSUMABLE loan at 3.15% until Dec, 2028. CURRENT BROKER TOUR SCHEDULE: Thursday, August 18th from 2.30 – 4pm + Friday, August 19 from 10 – 11.30am. The asset allows an incoming investor to assume existing financing at 3.15% until late 2028 providing the investor with rare positive leverage in today’s unique market. This 30-unit apartment has a variety of unit sizes and styles and consists of (3) studios, (18) 1 bed / 1 bath, (3) 2 bed / 1 bath, and (6) 2 bed / 2 bath units. The building has garaged and gated parking for up to 25 vehicles, on-site laundry which is owned by the landlord, additional storage space which could be rented to tenants with minor modifications, and a calm collective open atrium space for the tenants. As units have been turned, most units have been upgraded pushing up market rents to a current loss to lease of over 11.99%. There remains an additional 4.60% banked rent increase on units.
Courtesy of BCRE, Davide Pio,
Listing Contact: 510-815-2000
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