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$ 1,125,000
Est. payment | /mo
4,595 SqFt
$ 1,125,000
Est. payment | /mo
4,595 SqFt
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 4,595 sqft
Price per Sqft $244
MLS Listing ID 41083062
HOA Y/N No
Year Built 1965
Lot Size 7,300 Sqft
Acres 0.17
Property Sub-Type 5 or More Units
Property Description
5-unit apartment complex in a great neighborhood up the Oakland Hills with strong current income and excellent rental upside. The current cap rate is 6.73% and the current GRM is 10.5. The property offers one very large two-story 3bd/2bth unit and four spacious 2bd/1bth units including one unit that will be delivered vacant at closing. The property was originally built in 1965, offers approximately 4,595 square feet of rental space, and sits on a 7,300 square foot lot with a large garage and off-street parking. The property is easy to manage and is separately metered for PG&E providing for low annual operating expenses. The current owner self-manages the property and has remodeled many of the units with newer kitchens, bathrooms, wood flooring, newer carpet, custom lighting, fixtures, and more. The roof was redone several years ago and the electrical and plumbing have been upgraded over time. This is a perfect opportunity for an investor to acquire a turn-key property with excellent upside around the corner from the popular Redwood Day K-8 School. The neighborhood is quiet and comprises nice single-family homes with pride of ownership.
Location
State CA
County Alameda
Rooms
Basement Other
Interior
Heating Other
Cooling Other
Flooring Other
Fireplace No
Exterior
Utilities Available Other Water/Sewer
Building
Lot Description Other
Water Other
New Construction No
Others
Tax ID 2681046
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Listed by David Howarth • The Pinza Group, Inc