Garden Park Apartments

Garden Park Apartments

Sold

20928 Wilbeam Avenue, CA 94546

$14,000,000 Marketing Sheet

SOLD (2-21-2020)

The Garden Park Apartments are an exclusive gated fifty-two (52) unit apartment complex with extensive renovations strategically centered just two blocks from downtown Castro Valley, and two blocks from Castro Valley BART.

Built in 1963, The Garden Park Apartments consist of 38,588 square feet of livable space, situated on a 1.52-acre lot. Extensively upgraded over the past ten years, the construction is of wood frame, with stucco siding, and flat tar and gravel roofs. The exterior was painted 1.5 years ago, and all windows throughout the entire property were upgraded with dual pane windows just under ten years ago. All the exterior wrought iron railing throughout the property has been brought up to code by the management. The apartment interiors consist of thirty-nine (39) one-bedroom/one-bath units ranging from 620-650 square feet, and thirteen (13) twobedroom/one-bath units ranging from 765-800 square feet per unit.

Over the past five years, many of the apartment interiors were highly renovated with brand new kitchens, kitchen cabinetry, dishwashers, bathrooms, granite countertops, appliances, lighting and plumbing fixtures, and vinyl plank flooring allowing a new buyer to step into ownership of a pride of ownership complex. All fifty-two units have garbage disposals, massive/spacious dual sliding mirror closets, and all lower-level units have private semi-fenced off 420 square foot backyards.

Cap Rate: 4.19% NOI: $584,032 Livable Sq. Ft: 38,588

Built in 1963 52 units Lot Sq. Ft: 66,211

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