3186 McKillop Rd - Apartments FOR SALE


Oakland, CA 94602- Reservoir Hill
$1,125,000 USD
510-725-4775
3186 McKillop Rd, Oakland, CA for Sale
$1,125,000 USD
Apartments - FOR SALE
1/14
null | 6.44% Cap Rate

3186 McKillop Rd
Oakland, CA 94602
Reservoir Hill


HIGHLIGHTS

  • Easy to Manage, Low Maintenance, Turn-Key Property, Separately Metered For PG&E with Low Annual Operating Expenses
  • Remodeled Units with Upgraded Kitchens, Bathrooms, Custom Fixtures, Wood Floors, and More
  • Off-Street Parking, On-Site Laundry, and Backyard Area
  • ProForma Cap Rate: 10.83% & ProForma GRM: 6.96

OVERVIEW

5-unit apartment complex up near the Oakland hills with strong current income and excellent rental upside. The property offers one very large two-story 3bd/2bth unit and four spacious 2bd/1bth units including one unit that will be delivered vacant at closing. The property was originally built in 1965, offers approximately 4,595 square feet of rental space, and sits on a 7,300 square foot lot with a large garage and off-street parking. The property is easy to manage and is separately metered for PG&E providing for low annual operating expenses. The current owner self-manages the property and has remodeled many of the units with newer kitchens, bathrooms, wood flooring, newer carpet, custom lighting, fixtures, and more. The roof was redone several years ago and the electrical and plumbing have been upgraded over time. This is a perfect opportunity for an investor to acquire a turn-key property in a rapidly improving neighborhood with excellent long-term potential. The is a high-demand location up in the hills near HWY580 around the corner from the popular Redwood Day K-8 School. The neighborhood is quiet and comprises nice single-family homes with pride of ownership.

FOR SALE DETAILS

PRICE

$1,125,000 USD

PRICE/SF

$245 USD /SF

# OF UNITS

5

PRICE/UNIT

$225,000

CAP RATE

6.44%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

R30

APN/PARCEL ID

026-0810-046-00

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.