809 E 28th St
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809 E 28th St
14 Unit Apartment Building $2,595,000 ($185,357/Unit) 6.61% Cap Rate Oakland, CA 94610
Investment Highlights
- First time on market in over 22 years!
- Substantial rental upside
- Pride of ownership property
- Prime Ivy Hill location
- Off the Soft story retrofit list
Executive Summary
$100k Price improvement
Motivated Seller looking at all offers
The Bos Group is excited to present 809 E 28th St, a well-maintained 14-unit apartment community located in
the heart of Oakland’s Ivy Hill Neighborhood.
The property, featuring (6) large studio units, (7)
1-bedroom, 1-bathroom units, and (1) 2-bedroom,
1-bathroom unit, which is designed to maximize space and functionality. What sets this property apart is its unique
and desirable corner lot, beautiful architecture with period-appropriate details, and five secured garage spaces.
This day-one cash-flowing property offers significant rental upside and is strategically positioned to deliver long-term returns through unit remodels and upgrades. The property’s ability to attract premium tenants and maintain a very low vacancy rate, a feat it has achieved for over 22 years, provides potential investors with a sense of security and stability.
Motivated Seller looking at all offers
The Bos Group is excited to present 809 E 28th St, a well-maintained 14-unit apartment community located in
the heart of Oakland’s Ivy Hill Neighborhood.
The property, featuring (6) large studio units, (7)
1-bedroom, 1-bathroom units, and (1) 2-bedroom,
1-bathroom unit, which is designed to maximize space and functionality. What sets this property apart is its unique
and desirable corner lot, beautiful architecture with period-appropriate details, and five secured garage spaces.
This day-one cash-flowing property offers significant rental upside and is strategically positioned to deliver long-term returns through unit remodels and upgrades. The property’s ability to attract premium tenants and maintain a very low vacancy rate, a feat it has achieved for over 22 years, provides potential investors with a sense of security and stability.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$258,599
|
$27.23
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$258,599
|
$27.23
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$87,736
|
$9.24
|
| Net Operating Income |
$170,863
|
$17.99
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $258,599 |
| Annual Per SF | $27.23 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $258,599 |
| Annual Per SF | $27.23 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $87,736 |
| Annual Per SF | $9.24 |
| Net Operating Income | |
|---|---|
| Annual | $170,863 |
| Annual Per SF | $17.99 |
Property Facts
| Price | $2,595,000 | Apartment Style | Low Rise |
| Price Per Unit | $185,357 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 6.61% | Building Size | 9,496 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 98% |
| Gross Rent Multiplier | 9.9 | No. Stories | 3 |
| No. Units | 14 | Year Built | 1940 |
| Property Type | Multifamily | Parking Ratio | 0.53/1,000 SF |
| Property Subtype | Apartment |
| Price | $2,595,000 |
| Price Per Unit | $185,357 |
| Sale Type | Investment |
| Cap Rate | 6.61% |
| Sale Conditions | 1031 Exchange |
| Gross Rent Multiplier | 9.9 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 9,496 SF |
| Average Occupancy | 98% |
| No. Stories | 3 |
| Year Built | 1940 |
| Parking Ratio | 0.53/1,000 SF |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- High Speed Internet Access
- Oven
- Range
- Smoke Free
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | - |
| 1+1 | 7 | - | - |
| 2+1 | 1 | - | - |
1 of 1
Walk Score ®
Very Walkable (81)
PROPERTY TAXES
| Parcel Number | 023-0395-045-00 | Improvements Assessment | $1,354,683 (2024) |
| Land Assessment | $324,405 (2024) | Total Assessment | $1,679,088 (2024) |
PROPERTY TAXES
Parcel Number
023-0395-045-00
Land Assessment
$324,405 (2024)
Improvements Assessment
$1,354,683 (2024)
Total Assessment
$1,679,088 (2024)
zoning
| Zoning Code | R-70, Oakland |
| R-70, Oakland |
-
Willem Bos -
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