1701 27th Ave - Apartments FOR SALE


Oakland, CA 94601
$1,095,000 USD
510-725-4775
1701 27th Ave, Oakland, CA for Sale
$1,095,000 USD
Apartments - FOR SALE
1/25
null | 7.1% Cap Rate

1701 27th Ave
Oakland, CA 94601


HIGHLIGHTS

  • Ten Cottage Style Apartments Consisting of Ten (10) Studio Apartments
  • Freshly Painted Exterior and Gate, Ample Off-Street Parking, and a Prime Opportunity to Receive Cash Flow From Day One of Ownership & Rental Upside
  • Current Rents Have Significant Room for Growth via Tenant Turnover, Annual Adjustments & Improvements
  • An Attractive Price per Unit of $109,500 Is Being Offered to Investors, Providing an Opportunity to Secure Long-Term Appreciation in Oakland
  • Ideal Location, Centrally Positioned Near a Number of Restaurants, Retail Shopping Outlets, Oakland International Airport, and Commute Options Such as

OVERVIEW

1701 27th Avenue is a charming ten-unit apartment complex that features ten cozy studio apartments, offering a total of 3,942 sq ft of rentable space. The complex was built in 1926 and has undergone recent exterior renovations, including fresh paint. Additionally, all units are fully occupied, presenting an excellent opportunity for investors to receive cash flow on day one of ownership with rental upside in market rents. There are two structures, each with their own gas and electricity meters, and plenty of off-street parking for tenants and guests. The property has a large garage/storage structure that will be removed before close of escrow, thereby allowing the addition of ADUs or parking. Bordering the neighborhoods of Fruitvale and East Lake, San Antonio provides a walkable Oakland setting with plenty to see, eat, and experience in the Bay Area. The neighborhood is just three miles from Downtown Oakland and about 14 miles from San Francisco's civic center. Explore International Boulevard, a fitting name for a place that houses taco shops, Cajun food, Thai food, and artisan coffee. San Antonio has the added benefit of being close to Interstate 880 and a few Bay Area Rapid Transit lines. Throughout the community, small bodega-type grocery stores are available, making it easy to walk down the street for day-to-day necessities. The locals have several options for outdoor fun with recreational facilities. 1701 27th Avenue is just 5 minutes away from the Fruitvale Bart station, 12 minutes to Oakland airport, and 41 minutes to San Francisco airport. The nearby colleges and universities include Laney College, Lincoln University, Samuel Merritt University, and College of Alameda. Email: Info@PinzaGroup.com for a complete marketing package.

FOR SALE DETAILS

PRICE

$1,095,000 USD

PRICE/SF

$277 USD /SF

# OF UNITS

10

PRICE/UNIT

$109,500

CAP RATE

7.1%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential, Dormitory

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1925

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,089 SF

ZONING

R-36, Oakland

APN/PARCEL ID

025-0734-016-00

ASK ABOUT THIS PROPERTY

Steven PinzaPinza GroupMore Info
510-725-4775

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Steven PinzaPinza GroupMore Info
510-725-4775

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