1058 70th Ave - Apartments FOR SALE


Oakland, CA 94621
$2,695,000 USD
408-909-8629
1058 70th Ave, Oakland, CA for Sale
$2,695,000 USD
Apartments - FOR SALE
1/37
null | 9.17% Cap Rate

1058 70th Ave
Oakland, CA 94621


HIGHLIGHTS

  • Eight 3bd/2bth Apartments of 1,089 +/- Square Feet w/ 9.17% Current Cap Rate!
  • All Units Fully Renovated Between 2019-2023, Featuring Updated Kitchens, Bathrooms, and W/D Hookups
  • Private Security Gate, 16 Off-Street Parking Spots, and Set on a Massive 20,000 SF Lot
  • Separately Metered for PG&E and Water, Helping Minimize Landlord Expenses
  • Section 8 Tenants Prevent Rent Control, Non Payment & Excessive City Fees
  • Located in an Opportunity Zone Offering Major Tax Benefits

OVERVIEW

1050-1078 70th Avenue is a fully remodeled eight unit multifamily property, built in 1926. The buildings feature eight spacious 3bd/2bth townhouse-style units of approximately 1,089 SF. Three (3) units will be delivered vacant and can be immediately rented out at market rate. Each unit is separately metered for PG&E and water, allowing utility passthroughs to minimize owner expenses. Each unit was fully renovated in 2019, featuring: updated kitchens, bathrooms, fresh paint, W/D hookups, and gorgeous flooring throughout. The property boasts sixteen (16) off-street parking spaces, set on a massive 20,000 SF lot. Located in close proximity to shopping, restaurants, and public transportation, 1050-1078 70th Avenue offers the exceptional opportunity to purchase a turnkey, cash flowing asset.

FOR SALE DETAILS

PRICE

$2,695,000 USD

PRICE/SF

$309 USD /SF

# OF UNITS

8

PRICE/UNIT

$336,875

CAP RATE

9.17%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

70th Avenue Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1926

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,038 SF

ZONING

-

APN/PARCEL ID

041-4148-063-00

ASK ABOUT THIS PROPERTY

Alec MatutPinza GroupMore Info
408-909-8629

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Alec MatutPinza GroupMore Info
408-909-8629

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.