1311 97th Ave - Apartments FOR SALE


Oakland, CA 94603
$995,000 USD
510-822-1331
1311 97th Ave, Oakland, CA for Sale
$995,000 USD
Apartments - FOR SALE
1/33
null | 10.01% Cap Rate

1311 97th Ave
Oakland, CA 94603


HIGHLIGHTS

  • 5-Unit Apartment Complex Featuring Three Large 2bd/1bth Units and Two 1bd/1bth Units with Excellent
  • Excellent Current Income and Strong Rental Upside
  • Low Maintenance Property Separately Metered for PG&E with Low Annual Operating Expenses
  • Two Vacant 2bd/1bth Units; Perfect for Owner-Occupants or Investors Seeking Max Market Rates
  • Quiet Residential Street Comprised of Mostly Single-Family Homes Close to Shopping and Restaurants
  • Four Parking Garages Rented for Additional Income

OVERVIEW

5-unit apartment complex featuring three large 2bd/1bth units and two 1bd/1bth units with strong current income and excellent rental upside. The property was originally built in 1951, offers approximately 4,335 square feet of rental space, and sits on a 6,300 square foot lot with four garage spaces and a nice backyard area. The exterior and interior are in good condition with no deferred maintenance resulting in an attractive turnkey investment for the next owner. The property has been historically managed by the owner, is separately metered for PG&E, and offers low annual operating expenses. Currently there are two vacant 2bd/1bth units perfect for an investor seeking high market rents or possible owner-occupants. The property is located on a quiet residential street with mostly single-family homes. There are many restaurants, shopping options, and public transportation nearby making this an attractive location for tenants. ***EMAIL DAVID@PINZAGROUP.COM FOR A COMPLETE MARKETING PACKAGE AND PRIVATE SHOWING.

FOR SALE DETAILS

PRICE

$995,000 USD

PRICE/SF

$230 USD /SF

# OF UNITS

5

PRICE/UNIT

$199,000

CAP RATE

10.01%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

5 Units with 10.01% Current Cap Rate

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1951

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

N/Av, Oakland

APN/PARCEL ID

044-4969-016-00

ASK ABOUT THIS PROPERTY

David HowarthPinza GroupMore Info
510-822-1331

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David HowarthPinza GroupMore Info
510-822-1331

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