Two 6 Unit Buildings | 485 Cheney Ave
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Two 6 Unit Buildings 485 Cheney Ave
12 Unit Apartment Building $3,070,000 ($255,833/Unit) 6.01% Cap Rate Oakland, CA 94610
Executive Summary
479 & 485 Cheney Avenue are two multi family buildings on separate lots being operated and sold as one 12 unit property. They are nearly identical 6 unit buildings with all one bedroom units, connected by a shared driveway and gated backyard/parking lot. The units have all been renovated with updated kitchens and bathrooms while maintaining period details including living room built-ins, hardwood floors, and lovely clawfoot bathtubs. The bedrooms are ample sized, and all the units boast huge closets, additional storage and great natural light. 479 Cheney Ave. houses the laundry room (2 washers/2 dryers) for both buildings with exterior access from the backyard. The units are all separately metered for gas and electricity and have their own water heaters. Tenants pay for their own gas heat.
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 Under Contract
| Price | $3,070,000 | Apartment Style | Low Rise |
| Price Per Unit | $255,833 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.24 AC |
| Cap Rate | 6.01% | Building Size | 9,437 SF |
| Gross Rent Multiplier | 10 | No. Stories | 2 |
| No. Units | 12 | Year Built | 1919 |
| Property Type | Multifamily | Parking Ratio | 1.17/1,000 SF |
| Property Subtype | Apartment |
| Price | $3,070,000 |
| Price Per Unit | $255,833 |
| Sale Type | Investment |
| Cap Rate | 6.01% |
| Gross Rent Multiplier | 10 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 9,437 SF |
| No. Stories | 2 |
| Year Built | 1919 |
| Parking Ratio | 1.17/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | - |
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Walk Score ®
Walker's Paradise (99)
Bike Score ®
Very Bikeable (85)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $1,892,604 (2024) | |
| Land Assessment | $511,130 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,381,474 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$511,130 (2024)
Improvements Assessment
$1,381,474 (2024)
Total Assessment
$1,892,604 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | R-70 |
| R-70 |
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Two 6 Unit Buildings | 485 Cheney Ave
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