Seller Fin. Avail-7 Unit Converted MF Complex | 524-526 1st St
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Seller Fin. Avail-7 Unit Converted MF Complex 524-526 1st St
7 Unit Apartment Building $1,406,400 CAD ($200,914 CAD/Unit) 8.44% Cap Rate Rodeo, CA 94572
Investment Highlights
- Attractive Seller Financing: Owner open to seller financing with 40%+ down, 25 year amortization for a term of no longer than 3 years.
- Upside in Utility Separation: Most units have combined utility bills and are not being billed properly. RUBS can be implemented.
- Varying Unit Mix: (1) 3 bed / 1 bath, (3) 2 bed / 1 bath, (1) 1 bed / 1 bath, a non conforming studio and small occupied office.
Executive Summary
Davide F. Pio is proud to present 516 and 524-528 1st Street in Rodeo, CA for sale. The two (2) parcels can be purchased separately or jointly for a total of seven (7) units. 516 1st St has a total of four (4) living units consisting of (2) 2 bed / 1 bath, (1) 1 bed / 1 bath, and (1) studio unit and a shed in the rear. 524-528 1st St consists of a small office space, (1) 3 bed / 1 bath unit with a sizable back yard, (1) 2 bed / 1 bath unit, a storage space, and 2 car garage.
Seller financing allows for flexibility for an investor to acquire the asset which has had most units updated. Along with rent growth in this desirable East Bay suburb, the buyer can update the electric/gas systems to more accurately distribute and pass on expenses to the tenants.
Located in quaint downtown Rodeo, the property is located in proximity to local businesses as well as San Pablo Bay. A short drive provides quick access to Highway 80 allowing easy connects to Vallejo, Berkeley, Oakland and San Francisco.
Seller financing allows for flexibility for an investor to acquire the asset which has had most units updated. Along with rent growth in this desirable East Bay suburb, the buyer can update the electric/gas systems to more accurately distribute and pass on expenses to the tenants.
Located in quaint downtown Rodeo, the property is located in proximity to local businesses as well as San Pablo Bay. A short drive provides quick access to Highway 80 allowing easy connects to Vallejo, Berkeley, Oakland and San Francisco.
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$197,638
|
$107.59
|
| Other Income |
$19,047
|
$10.37
|
| Vacancy Loss |
$13,835
|
$7.53
|
| Effective Gross Income |
$202,851
|
$110.43
|
| Taxes |
$27,067
|
$14.73
|
| Operating Expenses |
$57,291
|
$31.19
|
| Total Expenses |
$84,358
|
$45.92
|
| Net Operating Income |
$118,493
|
$64.50
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $197,638 |
| Annual Per SF | $107.59 |
| Other Income (CAD) | |
|---|---|
| Annual | $19,047 |
| Annual Per SF | $10.37 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $13,835 |
| Annual Per SF | $7.53 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $202,851 |
| Annual Per SF | $110.43 |
| Taxes (CAD) | |
|---|---|
| Annual | $27,067 |
| Annual Per SF | $14.73 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $57,291 |
| Annual Per SF | $31.19 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $84,358 |
| Annual Per SF | $45.92 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $118,493 |
| Annual Per SF | $64.50 |
Property Facts
Site Amenities
- Fenced Lot
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 222 |
| 1+1 | 1 | - | 395 |
| 2+1 | 3 | - | 538 - 875 |
| 3+1 | 1 | - | 1,892 |
1 of 1
Walk Score ®
Very Walkable (71)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $990,440 CAD | |
| Land Assessment | $380,783 CAD | Annual Taxes | $27,067 CAD ($5.48 CAD/SF) |
| Improvements Assessment | $609,657 CAD | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$380,783 CAD
Improvements Assessment
$609,657 CAD
Total Assessment
$990,440 CAD
Annual Taxes
$27,067 CAD ($5.48 CAD/SF)
Tax Year
2024
zoning
| Zoning Code | M-2 / MU-2 (Downtown/WaterfrontRodeo Mixed Use District) |
| M-2 / MU-2 (Downtown/WaterfrontRodeo Mixed Use District) |
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Seller Fin. Avail-7 Unit Converted MF Complex | 524-526 1st St
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