7-units with 10.32% Cap Rate & ADU Upside 9326 Bancroft Ave

7-unit apartment complex offering six 1bd/1bth units and one 2bd/1bth unit with excellent current cash flow. The current CAP rate is 10.16% and the current GRM is 7.25! The property was originally built in 1966, offers approximately 4,432 square feet of rental space, and has six VACANT garages that can be rented for additional income or repurposed for additional units. Five units are currently rented to Section 8 tenants and one tenant is rented to Abode providing for maximum stability and control. The 2bd/1bth unit is currently vacant and can be rented before close of escrow for the maximum cash flow or delivered vacant for an owner-occupant. The majority of the units have been extensively remodeled and offer new kitchens, bathrooms, upgraded electrical and plumbing, full seismic retrofit, new flooring, double pane windows, new exterior and interior paint, a newer roof, on-site coin operated laundry, and more. The property is easy to manage and is separately metered for PG&E providing for low annual operating expenses. This is an attractive location close to San Leandro, HWY580, and Bishop O'Dowd High School with easy access to public transportation. There are a variety of restaurants and shopping options in the neighborhood making this a high-demand location for tenants.
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