410 Fairmount Ave - Apartments FOR SALE


Oakland, CA 94611
$3,650,000 USD
916-698-9954
410 Fairmount Ave, Oakland, CA for Sale
$3,650,000 USD
Apartments - FOR SALE
1/30
null | 6.84% Cap Rate

410 Fairmount Ave
Oakland, CA 94611


HIGHLIGHTS

  • New Smart meters being installed this month!
  • 204k/ Unit
  • Almost 7% CAP
  • 8.45 GRM
  • Rental upside
  • Very Motivated Seller

OVERVIEW

410 Fairmount Avenue is a desirable eighteen-unit apartment building consisting of a strong unit mix, including (2) Well-maintained studios, (10) large one-bedroom units, and (6) functionally designed two-bedroom units. With extensive capital improvements, including bringing all electrical panels up to date, replacing the main panel, individually meeting each unit, and fully seismically upgrading the building, this is a stable and easy-to-manage asset for any investor. In addition, 410 Fairmount is located directly above the sprawling Lake Merritt Recreation Center in Oakland, making this a highly sought-after tenant location. With day-one solid cash flow and a sizable amount of rental growth potential, this is a safe and secure asset for any investor looking for a long-term hold and priced well below comps at only an 8.45 GRM and over a 6.79% in-place CAP rate.

FOR SALE DETAILS

PRICE

$3,650,000 USD

PRICE/SF

$224 USD /SF

# OF UNITS

18

PRICE/UNIT

$202,778

CAP RATE

6.84%

% LEASED

91%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Motivated Seller only 8.45 GRM

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1926

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,248 SF

ZONING

R-70

APN/PARCEL ID

010-0809-013-00

ASK ABOUT THIS PROPERTY

Willem BosCompass CommercialMore Info
916-698-9954

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Willem BosCompass CommercialMore Info
916-698-9954

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