70th Avenue Apartments | 1058 70th Ave
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70th Avenue Apartments 1058 70th Ave
8 Unit Apartment Building $2,695,000 ($336,875/Unit) 9.17% Cap Rate Oakland, CA 94621
Investment Highlights
- Eight 3bd/2bth Apartments of 1,089 +/- Square Feet w/ 9.17% Current Cap Rate!
- Private Security Gate, 16 Off-Street Parking Spots, and Set on a Massive 20,000 SF Lot
- Section 8 Tenants Prevent Rent Control, Non Payment & Excessive City Fees
- All Units Fully Renovated Between 2019-2023, Featuring Updated Kitchens, Bathrooms, and W/D Hookups
- Separately Metered for PG&E and Water, Helping Minimize Landlord Expenses
- Located in an Opportunity Zone Offering Major Tax Benefits
Executive Summary
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.
Property Facts
| Price | $2,695,000 | Apartment Style | Garden |
| Price Per Unit | $336,875 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.46 AC |
| Cap Rate | 9.17% | Building Size | 8,712 SF |
| Gross Rent Multiplier | 8.66 | No. Stories | 2 |
| No. Units | 8 | Year Built/Renovated | 1926/2019 |
| Property Type | Multifamily | Parking Ratio | 0.92/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $2,695,000 |
| Price Per Unit | $336,875 |
| Sale Type | Investment |
| Cap Rate | 9.17% |
| Gross Rent Multiplier | 8.66 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 8,712 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1926/2019 |
| Parking Ratio | 0.92/1,000 SF |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 8 | - | 1,089 |
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Walk Score ®
Very Walkable (75)
Transit Score ®
Excellent Transit (70)
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70th Avenue Apartments | 1058 70th Ave
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