654 Vernon St | Oakland, CA 94610
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654 Vernon St
Oakland, CA 94610
654 Vernon · Multifamily Property For Sale · 7 Units
Investment Highlights
- Steps away from essential retail, grocery stores, restaurants and services
- Great access to I-580
- Onsite laundry facility
- All apartments are two-story Townhouses with interior stairs
- Off-street gated parking
Executive Summary
The highest achieved leases at the property demonstrate that there is immediate rental upside with the property in its current condition under its current unit renovation
program. In addition to capturing loss-to-lease, nearby market comparables indicate the property is approximately 23% under-rented when compared to similar vintage
properties with more extensive renovations. Property performance shows that the rent potential of 654
Vernon St is 23% above the current rent schedule.
program. In addition to capturing loss-to-lease, nearby market comparables indicate the property is approximately 23% under-rented when compared to similar vintage
properties with more extensive renovations. Property performance shows that the rent potential of 654
Vernon St is 23% above the current rent schedule.
PROPERTY FACTS
| Price Per Unit | $278,571 | Apartment Style | Low Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 4.99% | Lot Size | 0.15 AC |
| Gross Rent Multiplier | 10 | Building Size | 20,184 SF |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 0.34/1,000 SF |
| Price Per Unit | $278,571 |
| Sale Type | Investment |
| Cap Rate | 4.99% |
| Gross Rent Multiplier | 10 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 20,184 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 0.34/1,000 SF |
Unit Amenities
- Balcony
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 6 | - | - |
| 3+1.5 | 1 | - | - |
PROPERTY TAXES
| Parcel Number | 010-0831-021-00 | Improvements Assessment | $1,456,560 |
| Land Assessment | $624,240 | Total Assessment | $2,080,800 |
PROPERTY TAXES
Parcel Number
010-0831-021-00
Land Assessment
$624,240
Improvements Assessment
$1,456,560
Total Assessment
$2,080,800
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