Boasting an incredible unit mix of two 2bd/1bth, one 1bd/1bth, and one studio, this property is perfect for an owner move in to remove a low paying tenant, or someone looking for a turn key asset with significant rental upside. The property has a brand new roof, safety upgrades, fresh paint, new landscaping, and more. There is ample opportunity to do capital improvement pass throughs and banked rent increases which will allow for a 10% rent in crease in 2020. There are also additional income capabilities for storage, parking, and adding onsite laundry or another rental unit. Rents are approximately 50% of market value, allowing the next investor to raise rents upon turnover or buyout. The Rockridge BART station is approximately two blocks away, which will increase demand for a unit upon vacancy as high end tenants search for living close to public transportation. Further, tenants enjoy a quick walk to Trader Joes and other local hot spots.
People who live in Rockridge are quick to name it as one of the most desirable neighborhoods in Oakland, and it’s easy to see why. California College of the Arts at the south end of the neighborhood brings a creative streak to the community; this influence is reflected in the eclectic corridor of shops and cafes along College Avenue, a collective of quirky, locally-owned businesses that attracts visitors from all over the city. Elsewhere, the atmosphere feels distinctly suburban, with tree-shaded sidewalks and attractive houses lining quiet residential streets. Several public and private schools provide parents with a plethora of options for their children’s education. Claremont Country Club partially overlaps the southern portion of the neighborhood and Chabot Recreation Center sits just outside the northeast corner giving folks great facilities for outdoor fun.
CONTACT STEVEN PINZA, ESQ. FOR A COMPLETE MARKETING PACKAGE AND PRIVATE TOUR
