993 63rd St
6 Unit Apartment Building $1,650,000 ($275,000/Unit) 6.72% Cap Rate Oakland, CA 94608
INVESTMENT HIGHLIGHTS
- Ideally located along the Oakland/Emeryville border
- Recent ADU Conversion in front duplex
- Close proximity to Amtrak and Ashby BART
- Four of six units separately metered for water, gas and electric
- Updated electrical service for entire property
- Turnkey asset - over 100K in recent Cap Ex
EXECUTIVE SUMMARY
NAI Northern CA is excited to present this exceptional 6-Unit investment opportunity at 993 63rd Street. Centrally situated near the Oakland/Emeryville border, this property boasts 6 units consisting of one 3-bed 2-bath unit and five 2-bed 1-bath units. Recent capital investments of over 125K, including a front duplex ADU conversion, highlight the property's potential for increased value and income. With the majority of units separately metered and five fully remodeled, this property presents a turnkey opportunity for investors. Updated electrical service and close proximity to Amtrak and Ashby BART further enhance its appeal. Don't miss out on this prime asset in the desirable East Bay/Oakland area.
The area surrounding the property offers a vibrant mix of attractions, including the bustling districts of Emeryville and Oakland. Enjoy close proximity to the renowned Emeryville Public Market, a hub of dining, shopping, and entertainment. Nearby, experience the eclectic charm of Temescal, known for its diverse culinary scene and artisan boutiques. With convenient access to Ashby BART and Amtrak, the location provides seamless connectivity for residents. Take advantage of the area's strong rental demand and steady appreciation potential, making it an attractive investment opportunity.
The area surrounding the property offers a vibrant mix of attractions, including the bustling districts of Emeryville and Oakland. Enjoy close proximity to the renowned Emeryville Public Market, a hub of dining, shopping, and entertainment. Nearby, experience the eclectic charm of Temescal, known for its diverse culinary scene and artisan boutiques. With convenient access to Ashby BART and Amtrak, the location provides seamless connectivity for residents. Take advantage of the area's strong rental demand and steady appreciation potential, making it an attractive investment opportunity.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS Under Contract
| Price | $1,650,000 |
| Price Per Unit | $275,000 |
| Sale Type | Investment |
| Cap Rate | 6.72% |
| Gross Rent Multiplier | 9.97 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 5,294 SF |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 0.94/1,000 SF |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 5 | - | - |
| 3+2 | 1 | - | - |
1 of 1
Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (88)
PROPERTY TAXES
| Parcel Number | 016-1444-047-00 | Improvements Assessment | $353,480 |
| Land Assessment | $151,491 | Total Assessment | $504,971 |
