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Key Details
Sold Price $2,452,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 40924234
Sold Date 06/23/21
HOA Y/N No
Year Built 1955
Annual Tax Amount $30,027
Lot Size 7,405 Sqft
Acres 0.17
Property Description
1991 Bancroft is an impressive six-unit mixed use apartment building in the highly attractive core East Bay market of San Leandro. The property was built in 1958 and consists of two buildings on one 7,500 square foot lot. The main building has 4 apartment units and one 2,758 square foot commercial space while the second building is a two bedroom single family residence. The commercial space was leased earlier this year to a local dance studio who is opening their second location. The dance studio has committed to a long term lease and recently made their own capital improvements to the space for upgraded flooring. The commercial space has scheduled increases of 24% in 2021 and 22% in 2022. This significantly increases the cash flow for a new buyer just in the first 18 months of ownership. All information and images should be independently reviewed and verified for accuracy.
Location
State CA
County Alameda
Interior
Heating Wall Furnace
Fireplace No
Appliance Gas Water Heater, Dryer
Exterior
Roof Type Shingle,Tar/Gravel
Building
Lot Description Corner Lot
Others
Tax ID 7757221
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Bought with Harry Cordiano • Flat Rate Realty
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Tracy Thrower Conyers
Broker Associate, JD | License ID: 01712960
Broker Associate, JD License ID: 01712960