24 Apartments + Parking | Pill Hill | 2945 McClure St
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24 Apartments + Parking | Pill Hill 2945 McClure St
24 Unit Apartment Building $5,200,000 ($216,667/Unit) 5.95% Cap Rate Oakland, CA 94609
Investment Highlights
- 24 Units - 11 Units Beautifully Updated in Last 14 Months
- Separately Metered for Electricity & Separate Heat
- Stable Long-Term Tenants Showing an Estimated 32+% Upside with Rental Turnover
- Secured Covered Garage with Parking for 22 Single Cars, 2 Tandem & 1- 3 Motorcycles
- Recently Installed New Secure Mailboxes in Interior Lobby
- Primarily Residential Neighborhood with Close Proximity to a Plethora of Medical Offices, Hospitals, Shops, Bars & Restaurant
Executive Summary
2945 McClure Street is a well maintained 24-unit apartment building with secure entry to enclosed parking, mail delivery and a laundry facility in the well-known Pill Hill neighborhood of Oakland. The Unit mix includes 1 two bedroom with balcony, 21 one bedrooms, of which 2 have balconies & 2 studios with balconies. All units have ample closet space, storage & eat in kitchens. 11 of the units have been significantly renovated with tasteful upgrades. New vinyl laminate wood flooring, new interior doors & fixtures, new cabinets, quartzite counter tops, stainless steel appliances, dishwashers , microwave ovens, garbage disposals plus freshly updated bathrooms. Covered garage has secure parking for 22 single cars including 2 single car tandem slots and/or 1-3 additional motorcycle spaces. Apartment units are all-electric, separately metered, with tenants paying their own electricity & electric heat. Owner pays for water, garbage, & gas services to provide hot water in the building. It is a secure building with common area laundry facilities and secure interior individual mailboxes, as well as secure enclosed parking. All units have their own exterior front door entrance from a secure interior building walkway.
Financial Summary (Actual - 2023) 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 (Actual - 2023) 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
Price | $5,200,000 | Building Class | C |
Price Per Unit | $216,667 | Lot Size | 0.23 AC |
Sale Type | Investment | Building Size | 16,192 SF |
Cap Rate | 5.95% | Average Occupancy | 100% |
No. Units | 24 | No. Stories | 4 |
Property Type | Multifamily | Year Built | 1963 |
Property Subtype | Apartment | Parking Ratio | 1.48/1,000 SF |
Apartment Style | Mid Rise |
Price | $5,200,000 |
Price Per Unit | $216,667 |
Sale Type | Investment |
Cap Rate | 5.95% |
No. Units | 24 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Mid Rise |
Building Class | C |
Lot Size | 0.23 AC |
Building Size | 16,192 SF |
Average Occupancy | 100% |
No. Stories | 4 |
Year Built | 1963 |
Parking Ratio | 1.48/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Heating
- Kitchen
Site Amenities
- Gated
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
1+1 | 21 | - | 674 |
2+1 | 1 | - | 905 |
Studios | 2 | - | - |
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Walk Score ®
Walker's Paradise (95)
Bike Score ®
Very Bikeable (86)
PROPERTY TAXES
Parcel Number | 009-0699-005-04 | Total Assessment | $3,876,861 (2024) |
Land Assessment | $1,175,644 (2024) | Annual Taxes | ($1) ($0.00/SF) |
Improvements Assessment | $2,688,915 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
009-0699-005-04
Land Assessment
$1,175,644 (2024)
Improvements Assessment
$2,688,915 (2024)
Total Assessment
$3,876,861 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
Zoning Code | S1 |
S1 |
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24 Apartments + Parking | Pill Hill | 2945 McClure St
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