1701 27th Ave 10 Unit Apartment Building $1,557,659 CAD ($155,766 CAD/Unit) 7.10% Cap Rate Oakland, CA 94601

1701 27th Avenue is a charming ten-unit apartment complex that features ten cozy studio apartments, offering a total of 3,942 sq ft of rentable space. The complex was built in 1926 and has undergone recent exterior renovations, including fresh paint. Additionally, all units are fully occupied, presenting an excellent opportunity for investors to receive cash flow on day one of ownership with rental upside in market rents. There are two structures, each with their own gas and electricity meters, and plenty of off-street parking for tenants and guests. The property has a large garage/storage structure that will be removed before close of escrow, thereby allowing the addition of ADUs or parking.
Bordering the neighborhoods of Fruitvale and East Lake, San Antonio provides a walkable Oakland setting with plenty to see, eat, and experience in the Bay Area. The neighborhood is just three miles from Downtown Oakland and about 14 miles from San Francisco's civic center. Explore International Boulevard, a fitting name for a place that houses taco shops, Cajun food, Thai food, and artisan coffee. San Antonio has the added benefit of being close to Interstate 880 and a few Bay Area Rapid Transit lines. Throughout the community, small bodega-type grocery stores are available, making it easy to walk down the street for day-to-day necessities. The locals have several options for outdoor fun with recreational facilities. 1701 27th Avenue is just 5 minutes away from the Fruitvale Bart station, 12 minutes to Oakland airport, and 41 minutes to San Francisco airport. The nearby colleges and universities include Laney College, Lincoln University, Samuel Merritt University, and College of Alameda.
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