2127 Fairway, San Leandro, California 94577, San Leandro, 94577 - 2 bed, 1 bath
ACTIVE$469,000
2127 Fairway, San Leandro, California 94577
2Beds
1Bath
830Sqft
6,300Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Immediate Rental Income: The property comes with long-term tenants currently paying $2,500 monthly, offering immediate and stable cash flow for an investor.
Top Cons:
Complex Legal & Ownership Structure: The property's unique setup as an attached unit on a shared APN, with the seller owning only a percentage of the overall APN but possessing rights to this specific unit, presents significant legal and transactional complexities.
Compared to the nearby listings
Price:$469.0K vs avg $747.5K ($-278,500)17%
Size:830 sqft vs avg sqft83%
Price/sqft:$565 vs avg $083%
More Insights
Built in 1963 (62 years old).
Condition: The property was built in 1963, making it over 60 years old. While it appears to be maintained and is currently tenant-occupied, the images reveal a very dated interior. The kitchen features older white appliances, tiled countertops, and what appear to be original or very old cabinets, along with a fluorescent light fixture. The dining area has a dated ceiling fan. A wall heater is visible, suggesting a lack of central HVAC, which is a significant comfort and efficiency drawback. The overall condition indicates that major systems (HVAC, electrical, plumbing) are likely at or beyond their expected lifespan and would require substantial upgrades. The description targeting investors and mentioning an 'all cash transaction' or 'seller carry back' at a 'below market' price further supports the need for significant rehabilitation. While not a tear-down, it requires substantial repairs and modernization to meet current living standards and comfort expectations.
Year Built
1963
Close
-
List price
$469K
Original List price
$469K
Price/Sqft
$565
HOA
-
Days on market
-
Sold On
-
MLS number
IG25172461
Home ConditionPoor
Features
View-
About this home
Investor wanted, or primary residence must be all cash transaction or seller carry back, the legal says single family but is attached to another house that has separate addresses but share one apn# and only one with address of 2127 fairway is for sale, the other half is ownehrj occupied . priced below market as tax rolls state single family but this attached unit has two different mailing addresses but is on back half of apn# 79A-581-7 m/a 2114 W Avenue 136th, the front home Seller owns 14.5 percent of APN # 79A-581-7 known as 2114 w Ave 136th st, San Leandro, ca with possession of and right to rents of 2127 Fairway, San Leandro, Ca. Long time tenants wish to stay and presently pay 2500.00 monthly. Great location to the water , older but nice neighborhood pull up the address of 136th and click on a aerial view to show entrance to the property
Condition Rating
Poor
The property was built in 1963, making it over 60 years old. While it appears to be maintained and is currently tenant-occupied, the images reveal a very dated interior. The kitchen features older white appliances, tiled countertops, and what appear to be original or very old cabinets, along with a fluorescent light fixture. The dining area has a dated ceiling fan. A wall heater is visible, suggesting a lack of central HVAC, which is a significant comfort and efficiency drawback. The overall condition indicates that major systems (HVAC, electrical, plumbing) are likely at or beyond their expected lifespan and would require substantial upgrades. The description targeting investors and mentioning an 'all cash transaction' or 'seller carry back' at a 'below market' price further supports the need for significant rehabilitation. While not a tear-down, it requires substantial repairs and modernization to meet current living standards and comfort expectations.
Pros & Cons
Pros
Immediate Rental Income: The property comes with long-term tenants currently paying $2,500 monthly, offering immediate and stable cash flow for an investor.
Below Market Valuation: Priced below market value based on tax rolls, indicating potential for instant equity and future appreciation.
Desirable Location: Situated in an 'older but nice neighborhood' with a 'great location to the water,' enhancing its appeal.
Investor-Oriented Opportunity: Explicitly marketed as an 'Investor wanted' property with a 'Residential Income' classification, aligning with its current use.
Flexible Financing Option: The availability of 'seller carry back' provides an alternative financing solution for potential buyers.
Cons
Complex Legal & Ownership Structure: The property's unique setup as an attached unit on a shared APN, with the seller owning only a percentage of the overall APN but possessing rights to this specific unit, presents significant legal and transactional complexities.
Restricted Financing Requirements: The requirement for an 'all cash transaction or seller carry back' severely limits the pool of potential buyers, as traditional mortgage financing may be challenging to obtain.
Shared Property & APN Challenges: Being physically attached to an owner-occupied unit and sharing a single APN can lead to potential issues regarding shared expenses, maintenance responsibilities, and future property modifications.