900 Alvarez Avenue is a well-located 12-unit apartment property offering a strong, investor-preferred unit mix of 11 two-bedroom units and 1 three-bedroom unit. Units feature functional, spacious floorplans with good natural light, private patios or balconies, and updated interiors including laminate flooring. Residents benefit from separate metering for water, gas, and electricity, supporting efficient utility management. Property amenities include on-site coin-operated laundry and 20 parking spaces, consisting of 8 covered carport spaces and 12 surface spaces, contributing to tenant convenience and operational efficiency. The property has demonstrated consistent occupancy and stable in-place cash flow, providing immediate income with long-term performance potential.
Cap Rate - 4.48% GRM - 13.03 (Current) vs Cap Rate - 4.73% GRM - 12.60 (Proforma). The apartment features four (4) apartment units, two of which are 2 beds / 1 bath and the other two are studio units, as well as an owner-occupied commercial space. The owners went above and beyond showing pride in ownership construction and meticulous maintenance since it’s completion in 2001. A 4-car garage and 5-space parking lot as well as a coin-op laundry room provide additional income. Newer construction helps keep costs low and insurance requests to a minimum. Turn key investment with upside in rents but also in the potential conversion of the commercial space (tbd by buyer). Finding an apartment in the predominantly single-family home suburbs of Pinole is difficult, and one of newer construction is even more rare. Walking distance to various restaurants, and a short drive to local establishments in nearby Hercules, El Sobrante, and other parts of Pinole. A short drive provides quick access to Highway 80 allowing easy connections to San Francisco, Berkeley, and Oakland.
Pinole is located in California. Pinole, California has a population of 19,065. Pinole is less family-centric than the surrounding county with 24.34% of the households containing married families with children. The county average for households married with children is 35.9%.
The median household income in Pinole, California is $104,275. The median household income for the surrounding county is $110,455 compared to the national median of $69,021. The median age of people living in Pinole is 42.6 years.
The average high temperature in July is 79.6 degrees, with an average low temperature in January of 40.2 degrees. The average rainfall is approximately 26.7 inches per year, with 0 inches of snow per year.
