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Listed by Joseph Owens, DRE #01707768 • Marcus & Millichap
$ 1,300,000
Est. payment /mo
New
2246 23Rd Ave Oakland, CA 94606
1 Bed
2 Baths
4,715 SqFt
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 4,715 sqft
Price per Sqft $275
MLS Listing ID EB41144736
Bedrooms 1
Year Built 1926
Lot Size 2,840 Sqft
Property Sub-Type Five or More Units
Source Bridge MLS
Property Description
Fully occupied seven-unit multifamily asset in Oakland's Highland Terrace neighborhood. $1,300,000 ($185,714/unit, $275/SF). 5.46% current cap rate vs. 7.41% at market rents, with 20.4% rental upside and 35.6% NOI growth potential with no capital spend. Recent capital improvements include upgraded plumbing, electrical, windows, and roof. Located under 1 mile from Highland Hospital and roughly 1.6 miles from Fruitvale BART, with direct access to I-880. In-place NOI: $70,803. Market NOI: $96,095. The 2 live/work style units are not permitted.
Location
State CA
County Alameda
Area Oakland Zip Code 94601
Interior
Cooling Other
Flooring Vinyl
Exterior
Exterior Feature Stucco
Parking Features No Parking
Others
Tax ID 26-757-1
Special Listing Condition New, Not Applicable
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