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$ 895,000
Est. payment | /mo
10 Beds
2,916 SqFt
$ 895,000
Est. payment | /mo
10 Beds
2,916 SqFt
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,916 sqft
Price per Sqft $306
Subdivision Elmhurst
MLS Listing ID 41137423
Bedrooms 10
HOA Y/N No
Year Built 1943
Lot Size 4,000 Sqft
Acres 0.09
Property Sub-Type Quadruplex
Property Description
Situated along the 75th Avenue corridor less than a mile from Coliseum BART, 978 75th Avenue is a fully occupied East Oakland fourplex offering immediate, stabilized income in an established rental neighborhood. The two-story building spans approximately 2,916 square feet across two 3BD/1BA and two 2BD/1BA units, each with a private entry, assigned parking, and updated kitchen with quartz countertops and shaker cabinetry. Three of four units operate under active HACA HAP contracts, with annualized gross income of $117,660 and a proforma NOI of $76,073. Separate utility meters for all four units keep the expense ratio at a lean 30.5% — tenants pay their own gas and electric. At $895,000 — $307/SF and $223,750 per unit — this is a rare chance to acquire a cash-flowing, HAP-contract fourplex in East Oakland at an 8.5% current cap rate, with current rents approximately 8% below market and a clear path to 9.5% at turnover.
Location
State CA
County Alameda
Zoning CIX-2
Rooms
Basement None
Interior
Heating Natural Gas, Wall Furnace
Cooling No Air Conditioning
Flooring Tile, Vinyl
Fireplace No
Laundry In Unit
Exterior
Exterior Feature Yard Space
Utilities Available Individual Electric Meter, Individual Gas Meter
Building
Lot Description Corner Lot, Level, Paved
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 41415715
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Listed by Joey Wang • Keller Williams Realty
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