517 Stannage Ave 4 Unit Apartment Building $1,595,000 ($398,750/Unit) 5.59% Cap Rate Albany, CA 94706

Built in 1963, the 517 Stannage Avenue Apartments consist of Four (4) units in a two-story walkup apartment building. The building is built of wood frame construction with a stucco exterior. The apartment building contains approximately 3,452 square feet of gross building area set on a 5,151 square foot lot. The property has been well-maintained, showcasing the solid architectural bones of its era while serving as a reliable asset in a low-vacancy submarket.
The property features a total of Four (4) two bedroom / one bath units estimated at 863 square feet each. A majority of the units have been substantially remodeled and feature kitchen upgrades such as granite countertops, new cabinetry, new appliances and designer light fixtures. The units feature beautiful hardwood flooring through much of the apartment while bedrooms are carpeted. Bathrooms contain small vanities, tiled floors, wall-mounted cabinets and bathtubs with surrounds.
The 517 Stannage Avenue Apartments offer investors the opportunity to acquire a well-maintained, well-situated property with zero deferred maintenance in the highly desirable City of Albany. With a two-bedroom unit being kept vacant as a potential owner’s unit, this asset will attract not only investors but also owner users. Located approx. one-half mile from El Cerrito BART and just three blocks from Solano Ave, this property will attract students and young professionals alike.