Two 4-unit Apartments with Huge Upside | 3709 San Juan St
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Two 4-unit Apartments with Huge Upside 3709 San Juan St
8 Unit Apartment Building $1,795,000 ($224,375/Unit) 4.93% Cap Rate Oakland, CA 94601
Investment Highlights
- Two Four-Unit Apartment Sale (8 Units Total) Spread Across Two Parcels with Eight 2bd/1bth Units
- Current Rents are Over 50% Under Market Rates Providing Huge Opportunity for Rental Income Upside
- Stable, Easy-to-Manage Building, with Friendly Tenants
- One Vacant Unit Perfect for Owner-Occupant
- Separately Metered for Water and PG&E Providing for Low Annual Operating Expenses
- Ability to Purchase with 30-year Residential Financing
Executive Summary
Two four-unit apartment sale (8 units total) spread across two parcels with excellent income upside. Each property offers four 2bd/1bth units with stable tenants that are easy to manage. Both properties were built in 1956, offer a combined 6,336 square feet of living space, and a combined 12,000 square foot lot with eight carports. Maintenance is low and the property is separately metered for water and PG&E
providing for low annual operating expenses. The current rents are 50%+ under market rates, providing a huge opportunity for rental upside with tenant turnover or buyouts. At close of escrow there will be one vacant unit making this a perfect opportunity for an owner-occupant or an investor looking to lease at top market rate. The properties can be purchased separately with 30-year residential mortgages making this a safe and profitable investment. This is an attractive Fruitvale location near a variety of restaurants, coffee shops, and shopping options. The property is near BART and only a short drive to Lake Merritt, Downtown Oakland, Berkeley, and San Francisco.
****EMAIL DAVID@PINZAGROUP.COM FOR A COMPLETE MARKETING PACKAGE AND PRIVATE SHOWING.
providing for low annual operating expenses. The current rents are 50%+ under market rates, providing a huge opportunity for rental upside with tenant turnover or buyouts. At close of escrow there will be one vacant unit making this a perfect opportunity for an owner-occupant or an investor looking to lease at top market rate. The properties can be purchased separately with 30-year residential mortgages making this a safe and profitable investment. This is an attractive Fruitvale location near a variety of restaurants, coffee shops, and shopping options. The property is near BART and only a short drive to Lake Merritt, Downtown Oakland, Berkeley, and San Francisco.
****EMAIL DAVID@PINZAGROUP.COM FOR A COMPLETE MARKETING PACKAGE AND PRIVATE SHOWING.
Property Facts
| Price | $1,795,000 | Apartment Style | Low Rise |
| Price Per Unit | $224,375 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.28 AC |
| Cap Rate | 4.93% | Building Size | 6,336 SF |
| Gross Rent Multiplier | 13.23 | Average Occupancy | 96% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1956 |
| Property Subtype | Apartment | Parking Ratio | 1.26/1,000 SF |
| Price | $1,795,000 |
| Price Per Unit | $224,375 |
| Sale Type | Investment |
| Cap Rate | 4.93% |
| Gross Rent Multiplier | 13.23 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 6,336 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built | 1956 |
| Parking Ratio | 1.26/1,000 SF |
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | - | 750 |
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Walk Score ®
Very Walkable (88)
Bike Score ®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 032-2086-002-03 | Improvements Assessment | $266,847 |
| Land Assessment | $114,363 | Total Assessment | $381,210 |
PROPERTY TAXES
Parcel Number
032-2086-002-03
Land Assessment
$114,363
Improvements Assessment
$266,847
Total Assessment
$381,210
zoning
| Zoning Code | R30, Oakland |
| R30, Oakland |
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David Howarth -
Pinza Group
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Two 4-unit Apartments with Huge Upside | 3709 San Juan St
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