Description

25039 Cypress Ave is a well-maintained, recently renovated 9-unit multifamily asset located in one of the East Bays most dynamic rental submarkets. The property consists of (1) 2BR/1.5BA townhouse with two dedicated parking spaces, a private backyard, and a balcony, in addition to (8) 1BR/1BA apartment units. Select units feature outdoor amenities, including (2) first-floor units with private backyards and (6) second-floor units with balconies and extra storage conveniently located in the tuck-under carports. The asset has seen meaningful capital improvements, including a new vinyl roof (2021), new fascia, and double-pane windows, along with 9 covered parking spaces. With original kitchens and varying interior finishes, investors are presented with an immediate opportunity to renovate units and capture rental upside. Strategically positioned near CSU East Bay and a strong regional employment base, the property benefits from consistent rental demand and long-term market fundamentals. Additionally, the building may offer potential to convert tuck-under parking into additional units without replacement parking requirements under SB 1211 (buyer to verify), providing an additional upside component beyond standard unit upgrades.