1435 3rd Ave
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1435 3rd Ave
27 Unit Apartment Building $6,378,615 CAD ($236,245 CAD/Unit) 6.27% Cap Rate Oakland, CA 94606
Investment Highlights
- Proximity to Lake Merritt, local parks, and shopping.
- 5 studio units.
- 22 two-bedroom/one-bath apartments.
Executive Summary
First time on the market in over 25 years! 1435 3rd Avenue is a 27 unit apartment building conveniently located just off Lake Merritt. The property is comprised of five studios and twenty-two 1 Bedroom / 1 Bath apartments. Units have gas wall heat, gas stoves and are well laid out. Tenants are attracted to the building because of it's proximity to Lake Merritt, local parks and shopping.
Conveniently located just three blocks off of Lake Merritt 1435 3rd Avenue boasts a Walkscore of 93. Tenants are able to do most errands on foot and public transit is readily available. Tenants can enjoy Athol Plaza Park and it's tennis courts just two blocks from home. For commuting residents are able to walk to BART in less than 20 minutes. This location is a big sell for tenants.
Conveniently located just three blocks off of Lake Merritt 1435 3rd Avenue boasts a Walkscore of 93. Tenants are able to do most errands on foot and public transit is readily available. Tenants can enjoy Athol Plaza Park and it's tennis courts just two blocks from home. For commuting residents are able to walk to BART in less than 20 minutes. This location is a big sell for tenants.
Property Facts
| Price | $6,378,615 CAD | Building Class | C |
| Price Per Unit | $236,245 CAD | Lot Size | 0.49 AC |
| Sale Type | Investment | Building Size | 20,250 SF |
| Cap Rate | 6.27% | Average Occupancy | 96% |
| Gross Rent Multiplier | 8.56 | No. Stories | 3 |
| No. Units | 27 | Year Built | 1959 |
| Property Type | Multifamily | Tenancy | Single |
| Property Subtype | Apartment | Parking Ratio | 0.89/1,000 SF |
| Apartment Style | Low Rise |
| Price | $6,378,615 CAD |
| Price Per Unit | $236,245 CAD |
| Sale Type | Investment |
| Cap Rate | 6.27% |
| Gross Rent Multiplier | 8.56 |
| No. Units | 27 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 20,250 SF |
| Average Occupancy | 96% |
| No. Stories | 3 |
| Year Built | 1959 |
| Tenancy | Single |
| Parking Ratio | 0.89/1,000 SF |
Unit Amenities
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 5 | - | 500 |
| 1+1 | 22 | - | 750 |
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Walk Score ®
Walker's Paradise (94)
Transit Score ®
Excellent Transit (71)
Bike Score ®
Biker's Paradise (97)
PROPERTY TAXES
| Parcel Number | 020-0131-004-00 | Improvements Assessment | $1,660,820 CAD |
| Land Assessment | $710,036 CAD | Total Assessment | $2,390,474 CAD |
PROPERTY TAXES
Parcel Number
020-0131-004-00
Land Assessment
$710,036 CAD
Improvements Assessment
$1,660,820 CAD
Total Assessment
$2,390,474 CAD
zoning
| Zoning Code | R60, Oakland |
| R60, Oakland |
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1435 3rd Ave
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