2874-2882 Telegraph ave
12 Unit Apartment Building $1,595,000 ($132,917/Unit) 7.25% Cap Rate Oakland, CA 94609
INVESTMENT HIGHLIGHTS
- Three commercial storefronts, one currently vacant
- Potential to build two ADU in the back parking lot area.
- With a total of (9) residential units, with one currently vacant
EXECUTIVE SUMMARY
2874-2882 Telegraph Ave is an exceptional investment opportunity in the heart of Oakland! This vibrant, 12-unit mixed-use complex is located near Downtown Oakland, offering a great location for both investors and tenants alike. This property features a versatile unit mix of eight 1-bedroom, 1-bath, one 1-bedroom loft apartments and three commercial storefronts. With approximately 9,484 square feet of living space on a 0.14-acre lot, the complex provides an attractive blend of apartment units and commercial storefronts, offering substantial rental income potential for investors. What truly sets this property apart is its location and potential to add additional dwelling units (ADU). Its proximity to Downtown Oakland makes it an ideal housing option for locals and people who commute to San Francisco, ensuring consistent high demand and low vacancy rates. The surrounding area offers even more appeal located less than a mile from Downtown Oakland and with easy access to Highways 980, 880, and 580, and a quick drive away from world-renowned Fox Theatre, Lake Merrit, Jack London Square, and Alameda.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$184,272
|
$19.43
|
| Other Income |
$1,320
|
$0.14
|
| Vacancy Loss |
$5,528
|
$0.58
|
| Effective Gross Income |
$180,064
|
$18.99
|
| Taxes |
$21,362
|
$2.25
|
| Operating Expenses |
$44,348
|
$4.68
|
| Total Expenses |
$65,710
|
$6.93
|
| Net Operating Income |
$114,354
|
$12.06
|
PROPERTY FACTS
SITE AMENITIES
- Controlled Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $1,048 | - |
| Studios | 1 | $584.00 | - |
1 of 1
Walk Score®
Walker's Paradise (96)
Bike Score®
Biker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 009-0688-018-00 | Total Assessment | $1,675,471 |
| Land Assessment | $706,950 | Annual Taxes | $21,362 ($2.25/SF) |
| Improvements Assessment | $968,521 | Tax Year | 2024 |
ZONING
| Zoning Code | CC-2 , S-13 |
