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Listed by Marcus & Millichap
$ 1,300,000
Est. payment | /mo
4,715 SqFt
$ 1,300,000
Est. payment | /mo
4,715 SqFt
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 4,715 sqft
Price per Sqft $275
Subdivision Highland Terrace
MLS Listing ID 41144736
HOA Y/N No
Year Built 1926
Lot Size 2,840 Sqft
Property Sub-Type 5 or More Units
Source Bridge AOR
Property Description
Fully occupied seven-unit multifamily asset in Oakland's Highland Terrace neighborhood. $1,300,000 ($185,714/unit, $275/SF). 5.46% current cap rate vs. 7.41% at market rents, with 20.4% rental upside and 35.6% NOI growth potential with no capital spend. Recent capital improvements include upgraded plumbing, electrical, windows, and roof. Located under 1 mile from Highland Hospital and roughly 1.6 miles from Fruitvale BART, with direct access to I-880. In-place NOI: $70,803. Market NOI: $96,095. The 2 live/work style units are not permitted.
Location
State CA
County Alameda
Interior
Heating Other
Cooling Other
Flooring Vinyl
Fireplace No
Building
Lot Description Corner Lot
Water Public
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Kristin Lanham
REALTOR® Lic# 01401244