Property Detail

Description

Truly unique (6 unit) pride of ownership property within 2 blocks of Grand Ave & Lake Merritt. Comprised of (6) completely detached single-story cottage units-(4) 2-bedrooms & (2) 1-bedroom (may be converted to 2s). Property was carefully renovated in 2016-17 to modernize every facet of the structures & systems, while preserving original craftsman charm&character. Improvements at that time included new sewer lateral,drainage,concrete driveway,repaved parking lot, foundations, retaining walls, plumbing & electrical systems, windows, doors, roofs, stucco, water heaters, furnaces, sub-water meters, appliances & more. Kitchens & baths thoroughly renovated in (5) of the (6) units. Hardwood floors & upgraded tile throughout, wood-burning fireplaces in most units, in-unit laundry in (4)of(6) units, ind. submeters for water, central heating, ample storage beneath each unit, low maint. landscaping & mgmt. With SF rents heating up, history shows Adams Point & Lake Merritt will benefit. Fully leased. Initial leaseups post renovation in 2017 were $3250-$3350. Ideal for 1031