$995,000
Extra Large 4,816 square foot 4-unit apartment complex near Downtown Oakland with strong current income and excellent rental upside. The current cap rate is 6.53% and the current GRM is 10.6. Seller financing is available with excellent terms! The unit mix is ideal and offers one 3bd/1bth unit, two 2bd/1bth units, and one studio unit. The top story 2bd/1bth unit will be delivered vacant at closing. The property is separately metered for water and PG&E providing for low annual operating expenses. The building is 100% occupied with nice stable tenants that are easy to manage. The units have been remodeled with newer kitchens, bathrooms, hardwood floors, custom lighting, in-unit washer dryers, a new roof, and a nice backyard area. This is a perfect opportunity for an owner-user looking to occupy one or more units or an investor looking for excellent upside. This is a high-demand Downtown Oakland location walking distance to all the restaurants, coffee shops, and jobs in Downtown Oakland. This location is extremely convenient and is near multiple BART stations with immediate access to HWY980, HWY880, and HWY580 providing for short commute to San Francisco and Berkeley.
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Listed by David Howarth with The Pinza Group, Inc (510) 725-4775
Property Type
Quadruplex
Status
Active
MLS Number
41123120
Year Built
1909
Lot Size
2,300 sq ft