1494 Solano Avenue

Albany, CA 94706

$6,250,000
Price
Beds
8,921 Sq. Ft.
$701 / Sq. Ft.
8,921
Sq. Ft.
$701
per Sq. Ft.

Description

We're pleased to present 1494 Solano Ave, a turnkey 20-unit property ideally located on one of the East Bay's most popular neighborhood thoroughfares, Solano Avenue. Originally constructed in 1958 and meticulously cared for under current ownership and management, the subject property consists of twenty (20) total units: sixteen (16) 1-bedroom/1-bathroom units and four (4) 2-bedroom/1-bathroom units with ample parking (ground floor and off-street) and coin-op laundry. The property has undergone several...We're pleased to present 1494 Solano Ave, a turnkey 20-unit property ideally located on one of the East Bay's most popular neighborhood thoroughfares, Solano Avenue. Originally constructed in 1958 and meticulously cared for under current ownership and management, the subject property consists of twenty (20) total units: sixteen (16) 1-bedroom/1-bathroom units and four (4) 2-bedroom/1-bathroom units with ample parking (ground floor and off-street) and coin-op laundry. The property has undergone several capital improvements including a full seismic retrofit, roof restoration, window replacements and a complete facade renovation. Recent unit upgrades include strand bamboo hardwood floors, new bathroom vanities, cabinets and modern appliances. Under current ownership, PG&E is separately metered for the units while garbage, water, and hot water is being paid for by the landlords. The property may qualify for ADU conversion in the parking area. With a 95 Walk Score and close proximity to public transit and local favorites such as Little Star Pizza, Rivoli and Bowl'd Korean Rice Bar, this ideal location appeals to young professionals and families.
  1. Listed by Grant Chappell • DRE #01700439 • NAI Northern California

Property Details for 1494 Solano Avenue

City
ALBANY
Building Type
Lowrise (1-3 Flrs)
Property Sub Type
Lowrise (1-3 Flrs)
Garage/Parking
Parking Area
Total # Parking Spaces
13

Location

Listing Courtesy of NAI Northern California, Grant Chappell, DRE #01700439
Add your commute
LISTING UPDATED: 04/11/2024 01:21 AM

Property Details for 1494 Solano Avenue

StatusActive
MLS #41054832
Days on Compass26
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1958
Lot Size0.17 AC / 7,260 SF
CountyAlameda County

Location

Listing Courtesy of NAI Northern California, Grant Chappell, DRE #01700439
Add your commute

Building Information for 1494 Solano Avenue

Stories-Residences20Year Built1958Building Size-Lot Size0.17 AC / 7,260 SF

Payment Calculator

$43,541 per month

30 year fixed, 7.25% Interest

Principal and Interest

$34,109

Property Taxes

$9,432

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1494 Solano Avenue

Features
Feature Details
  • Flooring: Hardwood Floors, Laminate, Tile, Other
  • Disability Features: Other
Utility Details
  • Cooling: None
  • Heating: Electric
  • Water/Sewer: Sewer System - Public, Water - Public
Lot / Property Details
Property Details
  • Additional Equipment: None
  • City Transfer Tax: Yes
  • Exterior: Concrete Block
  • Lot Description: Regular
  • Lot Sq Ft Apx: 7260
  • Lot Size Square Feet: 7260.0
  • Roof: Bitumen
  • Sq Ft Apx: 8921
  • Year Built: 1958
Location Details
  • Directions to Property: Gilman exit to Solano.
  • FIPS Code: 06001
  • Census Tract: 4201
  • Parcel Number: 65264041
  • Printed Neighborhood Rpt: Yes
  • Board ID: Bridge AOR
Multi Family Information
General Details
  • Units Total: 20
  • Basement: None
  • Tenant Pays: Electric, Gas
  • Financial Data Source: None
Multi Family 5+ Information
Building Details
  • Additional Features-Misc: Extra Storage
  • Apx Lot Acres: 0
  • On Site Parking Description: Covered Parking, Parking Area
  • Tot Ann Oper Exp: 197371.0
Income / Expense Details
  • Annual Rent Income: $513,240
  • Gross Rent Multiplier: 12
  • Net Operating Income: $309,939
Other Financial Information
  • Cap Rate: 4.96
  • Existing Loan: None
  • Ocpnt Req 24 Hr: Yes
Additional Information
Additional Information
  • Fireplace: No

Property History for 1494 Solano Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1494 Solano Avenue

Taxable ValueLand$1,934,277Additions$4,038,768Total$5,973,045
Tax Record2023$113,179 ($9,432 / month)
Home Facts
Total Finished SqFt8,921 SqFtAbove Grade Finished SqFt8,921 SqFtStories3Lot Size7,260 SqFtStyleMulti-Family Res (5+ Units)Year Built1958CountyALAMEDAAPN65-2640-4-1

Schools near 1494 Solano Avenue

This home is within Albany City Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 5
Rating
School
Distance
Marin Elementary School
PublicK to 5

Albany Middle School
Public6 to 8

Albany High School
Public9 to 12

Cornell Elementary School
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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1494 Solano Avenue is a multi-family home for sale in Albany, CA 94706. This property was listed for sale on April 4, 2024 by NAI Northern California, it's currently listed at $6,250,000. It has been on the market for a total of 26 days and was last sold on January 8, 2016. This listing's school district is Albany City Unified School District. Nearby schools include Marin Elementary School, Albany Middle School and Albany High School. 1494 Solano Avenue is a 0-bed, 0-bath, 8,921 sqft multi-family home built in 1958.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of NAI Northern California, Grant Chappell, DRE #01700439

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.