Showings: By Appointment Contact Broker | 1520 1st Ave
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Showings: By Appointment Contact Broker 1520 1st Ave
8 Unit Apartment Building $3,270,600 CAD ($408,825 CAD/Unit) 6.02% Cap Rate Oakland, CA 94606
Investment Highlights
- Situated in the heart of the vibrant Lake Merritt neighborhood, this property offers a highly desirable location that is sought after by tenants and i
- Unlock additional revenue streams with the potential for constructing an Additional Dwelling Unit (ADU) and/or onsite laundry facilities, enhancing th
- Strategically located near major Oakland employers such as Kaiser Permanente and Sutter Health, this property offers an attractive housing option for
- With the flexibility to deliver 7 out of 8 units vacant upon sale, this property provides immediate possibilities for renovations or upgrades to maxim
- Enjoy easy access to transportation with the Lake Merritt BART Station just a brief 5-minute drive away, facilitating seamless commutes throughout the
Executive Summary
***Showings By Appointment Contact Broker Directly***
Berkshire Hathaway Commercial Property Group proudly presents 1520 1st Ave, Oakland, CA—an exceptional 8-unit multifamily property ideally situated in Downtown Oakland, steps away from the Lake Merritt. This property boasts a diverse mix of units, comprising (3) 2-bedroom, 1-bathroom residences, (3) spacious 1-bedroom, 1-bathroom units, and (2)
generous studio apartments with 1 bathroom each. Upon acquisition, the property offers the flexibility of delivering up to 7 out of 8 units vacant at the close of escrow, providing immediate opportunities for renovations or leasing at market value. Moreover, the property presents promising potential for further development, with the possibility of constructing an Additional Dwelling Unit (ADU) and an onsite laundry room, catering to tenant needs and enhancing property value. This is a great opportunity to acquire a lucrative asset in a great location.
Berkshire Hathaway Commercial Property Group proudly presents 1520 1st Ave, Oakland, CA—an exceptional 8-unit multifamily property ideally situated in Downtown Oakland, steps away from the Lake Merritt. This property boasts a diverse mix of units, comprising (3) 2-bedroom, 1-bathroom residences, (3) spacious 1-bedroom, 1-bathroom units, and (2)
generous studio apartments with 1 bathroom each. Upon acquisition, the property offers the flexibility of delivering up to 7 out of 8 units vacant at the close of escrow, providing immediate opportunities for renovations or leasing at market value. Moreover, the property presents promising potential for further development, with the possibility of constructing an Additional Dwelling Unit (ADU) and an onsite laundry room, catering to tenant needs and enhancing property value. This is a great opportunity to acquire a lucrative asset in a great location.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,270,600 CAD | Property Subtype | Apartment |
| Price Per Unit | $408,825 CAD | Apartment Style | Low Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.02% | Lot Size | 0.08 AC |
| Sale Conditions | Deferred Maintenance | Building Size | 5,049 SF |
| Gross Rent Multiplier | 11.76 | Average Occupancy | 50% |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1910 |
| Price | $3,270,600 CAD |
| Price Per Unit | $408,825 CAD |
| Sale Type | Investment |
| Cap Rate | 6.02% |
| Sale Conditions | Deferred Maintenance |
| Gross Rent Multiplier | 11.76 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 5,049 SF |
| Average Occupancy | 50% |
| No. Stories | 3 |
| Year Built | 1910 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | - | - |
| 1+1 | 3 | - | - |
| Studios | 2 | - | - |
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Walk Score ®
Walker's Paradise (93)
Transit Score ®
Excellent Transit (75)
Bike Score ®
Biker's Paradise (94)
PROPERTY TAXES
| Parcel Number | 020-0181-012-00 | Improvements Assessment | $756,259 CAD |
| Land Assessment | $137,310 CAD | Total Assessment | $893,569 CAD |
PROPERTY TAXES
Parcel Number
020-0181-012-00
Land Assessment
$137,310 CAD
Improvements Assessment
$756,259 CAD
Total Assessment
$893,569 CAD
Contacts
-
Matthew Rulloda -
Monjid Aldiyyat -
Berkshire Hathaway|Drysdale Properties Home Svc
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Showings: By Appointment Contact Broker | 1520 1st Ave
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