8-Units with Excellent Cash Flow 6868 Foothill Blvd

8-unit apartment complex with strong current income and excellent rental upside. The current cap rate is 8.08% and the current GRM is 6.61. The property is 100% occupied and offers eight large 2bd/1bth units with eight off-street parking spaces. The property was originally built in 1951, offers approximately 6,400 square feet of rental space, and sits on a 7,634 square foot lot. The property is easy to manage and is separately metered for water and PG&E providing for low annual operating expenses. The current owner spent considerable time and money to turn-over six of the eight units and have fully remodeled the units with newer kitchens, bathrooms, wood flooring, double pane windows, custom lighting, fixtures, and more. The roof was redone four years ago and the electrical and plumbing have been upgraded. This is a perfect opportunity for an investor to acquire a turn-key property in a rapidly improving neighborhood with excellent long-term potential. This is a high demand Oakland location across the street from the Eastmont Town Center surrounded by many restaurants and shopping options with easy access to HWY 580, Mills College, Downtown Oakland, and public transportation.
****EMAIL DAVID@PINZAGROUP.COM FOR A COMPLETE MARKETING PACKAGE.