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7-unit Apartment with Excellent Income 2112 35th Ave

7 Unit Apartment Building $1,693,877 CAD ($241,982 CAD/Unit) 7.77% Cap Rate Oakland, CA 94601

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Investment Highlights

7-unit Apartment Complex Featuring Three 2bd/1bth Units and Four 1bd/1bth Units with Strong Current Income and Excellent Rental Upside
Low Maintenance Property Separately Metered for PG&E with Low Annual Operating Expenses
Current Cap Rate: 7.18%, ProForma Cap Rate: 10.77%

Remodeled Units with Newer Kitchens, Bathrooms, Paint, Wood Floors, Double Pane Windows, a Newer Roof, and More
Attractive Location Near Lake Merritt, BART, Restaurants, Coffee Shops, and Shopping Options
Current GRM: 9.46, ProForma GRM: 6.98

Executive Summary

7-unit apartment complex featuring Three 2bd/1bth units and four 1bd/1bth units with market rate tenants and excellent long-term upside. The property was originally built in 1961, offers approximately 4,850 square feet of rental space, and sits on a 6,708 square foot lot with four garages, and multiple off-street parking spaces. The units have all been remodeled over time and offer newer kitchens and bathrooms, wood floors, double pane windows, granite counter tops, custom molding, a newer roof, and more. The property is easy to manage and is separately metered for PG&E providing for low annual operating expenses. The exterior and interior are in great condition with no deferred maintenance resulting in an attractive turn-key investment for the next owner.
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Property Facts

Price	$1,693,877 CAD	Apartment Style	Low Rise
Price Per Unit	$241,982 CAD	Building Class	C
Sale Type	Investment	Lot Size	0.15 AC
Cap Rate	7.77%	Building Size	4,850 SF
Gross Rent Multiplier	8.82	Average Occupancy	100%
No. Units	7	No. Stories	3
Property Type	Multifamily	Year Built	1961
Property Subtype	Apartment Multifamily Manufactured Housing Mobile Home Park Multifamily Dormitory	Parking Ratio	1.86/1,000 SF

Price	$1,693,877 CAD
Price Per Unit	$241,982 CAD
Sale Type	Investment
Cap Rate	7.77%
Gross Rent Multiplier	8.82
No. Units	7
Property Type	Multifamily
Property Subtype	Apartment Multifamily Manufactured Housing Mobile Home Park Multifamily Dormitory
Apartment Style	Low Rise
Building Class	C
Lot Size	0.15 AC
Building Size	4,850 SF
Average Occupancy	100%
No. Stories	3
Year Built	1961
Parking Ratio	1.86/1,000 SF