Showings: Friday 9/24 & Thursday 9/30 from 10am-11:30am
Located in Oakland’s Coveted Ivy Hill Neighborhood
Six Spacious 2bd/1bth Units Each w/ a Front & Back Entrance
Upgrades Include All New Electrical, Full Seismic Retrofit, Exterior Paint, Roof, Updated Kitchens and Bathrooms, and More
Well-Located Walking Distance to Trader Joe’s, Starbucks, Eateries, Parks and More! Just Over a Mile From Highly Sought After Lake Merritt Attractions
On Site Coin Operated & Landlord Owned Laundry, Private Security Gate, & Four Private Automatic Garages
Potential to Add Billboard Income & Capital Improvement Pass Throughs to Increase Income
Multiple Loan Options Available with Historically Low Interest Rates & High LTV’s
In Place Cap Rate of 5.38% & 12.71 Current GRM
Property Type: MultiFamily Asking Price: $1,995,000 Year Built: 1927 Number of Units: 6 Price/Unit: $332,500 Rentable SF: 5,808 Price/Rentable SF: $343.49 Cap Rate: 5.38% Market Cap Rate: 6.19% GRM: 12.71 Market GRM: 11.45 Lot Size: 2,800 SF
Boasting six large 2bd/1bth units, most of which have been updated and feature gorgeous kitchens and bathrooms, additional upgrades to the property include all new electrical, full seismic retrofit, drainage, new exterior paint, and a newer roof. The property also boasts four private garages, on site coin operated & landlord owned laundry, private security gates, and much more. There are additional revenue streams available such as capital improvement pass throughs, billboard income, and more.
East of Lake Merritt and Lakeside Park is the urban community of Ivy Hill. Residents of this residential neighborhood enjoy the convenient access to two parks: FM Smith and Park Boulevard Plaza. Residents enjoy the vibrant nightlife at Ivy Hills’ bars. AC Transit has a couple of bus lines that run in the community, so residents can get from one place to another quickly. A number of eateries and local businesses encompass Ivy Hill. Locals are just minutes from Interstate 580, Interstate 880, Laney College, and Oakland Museum of California.