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$5,250,000
Est. payment /mo
0.54 Acres Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID 41107825
HOA Y/N No
Year Built 1961
Annual Tax Amount $74,080
Lot Size 0.544 Acres
Property Sub-Type Apartment
Property Description
This rare offering presents an 18-unit apartment complex (15,340 SF) with substantial upside potential, marking its first availability in nearly 20 years. Built in 1961 and strategically located at the corner of Denning Court and Stanton Avenue adjacent to Sutter Health Eden Medical Center, the property features generously sized units averaging 852 square feet with significant private outdoor space - a premium amenity in today's market. The asset's strong operational foundation includes long-term, stable tenancy and meticulous maintenance standards that provide immediate cash flow while positioning the property for significant value creation. The property offers compelling value-add opportunities with projected 54% NOI growth potential through systematic unit renovations upon natural turnover. Recent capital improvements including a new flat roof (2025), upgraded copper plumbing, and completed sewer lateral work demonstrate the owner's commitment to maintaining the asset's structural integrity while reducing future capital expenditure requirements for the new owner. The common area laundry facility features owned machines, maximizing laundry income potential and eliminating lease obligations.
Location
State CA
County Alameda
Interior
Heating Natural Gas, Wall Furnace
Cooling See Remarks
Fireplace No
Appliance Gas Water Heater, Dryer, Washer
Exterior
Total Parking Spaces 26
Building
Lot Description Street Level
Others
Tax ID 84A18183
Virtual Tour https://www.marcusmillichap.com/properties/184195/the-four-seasons-apartments
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Listed by Joseph Owens Marcus & Millichap
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