7-unit Apartment with Excellent Income | 2112 35th Ave
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7-unit Apartment with Excellent Income 2112 35th Ave
7 Unit Apartment Building $1,195,000 ($170,714/Unit) 7.77% Cap Rate Oakland, CA 94601
Investment Highlights
- 7-unit Apartment Complex Featuring Three 2bd/1bth Units and Four 1bd/1bth Units with Strong Current Income and Excellent Rental Upside
- Low Maintenance Property Separately Metered for PG&E with Low Annual Operating Expenses
- Current Cap Rate: 7.18%, ProForma Cap Rate: 10.77%
- Remodeled Units with Newer Kitchens, Bathrooms, Paint, Wood Floors, Double Pane Windows, a Newer Roof, and More
- Attractive Location Near Lake Merritt, BART, Restaurants, Coffee Shops, and Shopping Options
- Current GRM: 9.46, ProForma GRM: 6.98
Executive Summary
7-unit apartment complex featuring Three 2bd/1bth units and four 1bd/1bth units with market rate tenants and excellent long-term upside. The property was originally built in 1961, offers approximately 4,850 square feet of rental space, and sits on a 6,708 square foot lot with four garages, and multiple off-street parking spaces. The units have all been remodeled over time and offer newer kitchens and bathrooms, wood floors, double pane windows, granite counter tops, custom molding, a newer roof, and more. The property is easy to manage and is separately metered for PG&E providing for low annual operating expenses. The exterior and interior are in great condition with no deferred maintenance resulting in an attractive turn-key investment for the next owner.
****EMAIL DAVID@PINZAGROUP.COM FOR A COMPLETE MARKETING PACKAGE AND PRIVATE SHOWING.
****EMAIL DAVID@PINZAGROUP.COM FOR A COMPLETE MARKETING PACKAGE AND PRIVATE SHOWING.
Property Facts
Unit Amenities
- Dishwasher
- Disposal
- Fireplace
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 3 | - | - |
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Walk Score ®
Very Walkable (81)
PROPERTY TAXES
| Parcel Number | 032-2112-002-00 | Improvements Assessment | $587,868 |
| Land Assessment | $501,975 | Total Assessment | $1,089,843 |
PROPERTY TAXES
Parcel Number
032-2112-002-00
Land Assessment
$501,975
Improvements Assessment
$587,868
Total Assessment
$1,089,843
zoning
| Zoning Code | R50, Oakland (Medium Density Residential Zone) |
| R50, Oakland (Medium Density Residential Zone) |
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David Howarth -
Pinza Group
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7-unit Apartment with Excellent Income | 2112 35th Ave
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