1661 Mono Ave 1669 San Leandro, CA 94578-2019

This exceptional San Leandro investment opportunity presents a fee-simple ownership of a five-unit multifamily property situated on a sizable 14,700 square foot lot (0.34 acres). The property comprises a two-story, three-bedroom single-family home and four two-bedroom, one-bathroom cottages, all totaling 3,990 square feet of rentable space. Built in 1950, the property boasts a current occupancy of 100%, generating a Net Operating Income (NOI) of $90,827, and a pro-forma NOI of $97,426, representing a 6.26% cap rate and a pro-forma cap rate of 6.72%, respectively. The asking price is $1,450,000, or $290,000 per unit. The property features nine parking spaces and on-site laundry facilities, adding significant value for tenants. Conveniently located near Highway 580, this property offers easy access to major employment centers throughout the Bay Area. The permitted zoning is MULTI-FAMILY RES, allowing for potential future development or upgrades. This well-maintained property presents a compelling investment opportunity in a vibrant community with strong rental demand. The property's solid performance and potential for future appreciation make it an attractive addition to any investment portfolio.