Lakeshore Towers | 6.502% Cap Rate | 8.60 GRM | 187 Montecito Ave
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Lakeshore Towers | 6.502% Cap Rate | 8.60 GRM 187 Montecito Ave
22 Unit Apartment Building $4,230,000 ($192,273/Unit) 6.50% Cap Rate Oakland, CA 94610
Investment Highlights
- Desirable Adams Point Apartment Building
- Price Reduced
Executive Summary
PLEASE CONTACT LISTING AGENTS FOR MARKETING MATERIALS.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
| Price | $4,230,000 | Apartment Style | Low Rise |
| Price Per Unit | $192,273 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 6.50% | Building Size | 17,172 SF |
| Gross Rent Multiplier | 8.6 | No. Stories | 3 |
| No. Units | 22 | Year Built | 1964 |
| Property Type | Multifamily | Parking Ratio | 1.28/1,000 SF |
| Property Subtype | Apartment |
| Price | $4,230,000 |
| Price Per Unit | $192,273 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| Gross Rent Multiplier | 8.6 |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 17,172 SF |
| No. Stories | 3 |
| Year Built | 1964 |
| Parking Ratio | 1.28/1,000 SF |
Unit Amenities
- Kitchen
- Oven
- Range
- Carpet
Site Amenities
- Recycling
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 18 | $1,173 | 500 - 600 |
| 2+2 | 3 | $2,284 | 950 |
| 3+2 | 1 | $3,605 | 1,000 |
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Walk Score ®
Walker's Paradise (93)
Transit Score ®
Excellent Transit (71)
Bike Score ®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Number | 010-0769-005-00 | Total Assessment | $4,532,138 |
| Land Assessment | $1,489,943 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $3,034,605 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
010-0769-005-00
Land Assessment
$1,489,943
Improvements Assessment
$3,034,605
Total Assessment
$4,532,138
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
zoning
| Zoning Code | R-80 (Apartments) |
| R-80 (Apartments) |
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Lakeshore Towers | 6.502% Cap Rate | 8.60 GRM | 187 Montecito Ave
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