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Listed by Joseph Owens • Marcus & Millichap
$ 5,250,000
Est. payment /mo
Active
2504 Denning Ct Castro Valley, CA 94546
15,340 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Apt Complex
Listing Status Active
Purchase Type For Sale
Square Footage 15,340 sqft
Price per Sqft $342
MLS Listing ID 41107825
HOA Y/N No
Year Built 1961
Lot Size 0.544 Acres
Property Sub-Type Apt Complex
Source Bridge AOR
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 Other
Flooring Other
Fireplace No
Appliance Dryer, Washer
Laundry Dryer, Laundry Equip - Owned, Washer
Building
Lot Description Level, Security Gate
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