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Workforce Multi Family Development- 15 Units 8024 Rudsdale St

15 Unit Apartment Building $1,400,000 ($93,333/Unit) Oakland, CA 94621

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Investment Highlights

15 Unit, entitled approved development in an Opportunity Zone
Located near the Oakland International Airport, Port of Oakland, and the SF East Bay industrial employment base.
In a qualified census tract

The building design offers units averaging over 1,300 sq. ft.
Located across the street from Oakland Public Library and Acorn Woodland Elementary School
Potential Annual Gross Income over $618K

Executive Summary

BUILD IT THEY WILL COME! 15 Unit development in an high demand area for workforce housing. The opportunity is located near Oakland's major employment centers. The property is under five miles from the Oakland
International Airport. Additionally Oakland's large industrial presence offers prospective tenants ample employment
opportunities nearby. For those working outside the immediate area major transportation hubs are in close proximity.
The Coliseum BART station is less than one mile from the site and Interstate 880 is two miles away.
This development opportunity potentially brings much needed workforce housing units to an area surrounded by
employment centers & near transit. It sits across the street from an elementary school and the Oakland Public Library. Costs to build can be saved from the fact the foundations and exterior walls are in place. Local
approvals are in place so a builder can start immediately and provide more housing to the area quickly. Property can be developed now and has ready to issue permit in place.

Financial Summary (Pro forma - 2023)	Annual	Annual Per SF
Gross Rental Income	$618,060	$36.09
Other Income	-	-
Vacancy Loss	$32,245	$1.88
Effective Gross Income	$585,815	$34.21
Taxes	$98,000	$5.72
Operating Expenses	$60,500	$3.53
Total Expenses	$158,500	$9.26
Net Operating Income	$427,315	$24.95

Financial Summary (Pro forma - 2023)

Gross Rental Income
Annual	$618,060
Annual Per SF	$36.09

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	$32,245
Annual Per SF	$1.88

Effective Gross Income
Annual	$585,815
Annual Per SF	$34.21

Taxes
Annual	$98,000
Annual Per SF	$5.72

Operating Expenses
Annual	$60,500
Annual Per SF	$3.53

Total Expenses
Annual	$158,500
Annual Per SF	$9.26

Net Operating Income
Annual	$427,315
Annual Per SF	$24.95

Property Facts

Price	$1,400,000	Lot Size	0.40 AC
Price Per Unit	$93,333	Building Size	17,125 SF
Sale Type	Investment	Average Occupancy	100%
Sale Conditions	Distress Sale 1031 Exchange Redevelopment Project Building in Shell Condition	No. Stories	3
No. Units	15	Year Built	2007
Property Type	Multifamily	Tenancy	Single
Property Subtype	Apartment	Parking Ratio	0.58/1,000 SF
Apartment Style	Low Rise	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Building Class	C

Price	$1,400,000
Price Per Unit	$93,333
Sale Type	Investment
Sale Conditions	Distress Sale 1031 Exchange Redevelopment Project Building in Shell Condition
No. Units	15
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	C
Lot Size	0.40 AC
Building Size	17,125 SF
Average Occupancy	100%
No. Stories	3
Year Built	2007
Tenancy	Single
Parking Ratio	0.58/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Unit Mix Information

Description	No. Units	Avg. Rent/Mo	SF
3+3	5	$3,889	2,136
2+2	7	$2,570	898 - 1,047
2+1	2	$2,570	898 - 1,148
3+2	1	$3,414	1,015

PROPERTY TAXES

Parcel Number	041-4203-016-01	Total Assessment	$1,148,311 (2024)
Land Assessment	$546,815 (2024)	Annual Taxes	$98,000 ($5.72/SF)
Improvements Assessment	$601,496 (2024)	Tax Year	2023

PROPERTY TAXES

Parcel Number

041-4203-016-01

Land Assessment

$546,815 (2024)

Improvements Assessment

$601,496 (2024)

Total Assessment

$1,148,311 (2024)

Annual Taxes

$98,000 ($5.72/SF)

Tax Year

2023

zoning

Zoning Code	RM-3, Major CUP (Property is situated in a RM-3 and received a Major Conditional Use Permit. Located in a qualified census tract and in an opportunity zone. Build!)
RM-3, Major CUP (Property is situated in a RM-3 and received a Major Conditional Use Permit. Located in a qualified census tract and in an opportunity zone. Build!)