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

Price $1,595,000
Price Per Unit $132,917
Sale Type Investment
Cap Rate 7.25%
Gross Rent Multiplier 9.2
No. Units 12
Property Type Multifamily
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
Apartment Style Low Rise
Building Class C
Lot Size 0.17 AC
Building Size 9,484 SF
Average Occupancy 83%
No. Stories 3
Year Built 1905

SITE AMENITIES

  • Controlled Access

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
1+1 8 $1,048 -
Studios 1 $584.00 -
Walk Score®
Walker's Paradise (96)
Bike Score®
Biker's Paradise (90)

PROPERTY TAXES

ZONING

Zoning Code CC-2 , S-13
  • Listing ID: 34654610

  • Date on Market: 1/29/2025

  • Last Updated:

  • Address: 2874-2882 Telegraph ave, Oakland, CA 94609