2231 E 28th St
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2231 E 28th St
4 Unit Apartment Building $2,204,100 CAD ($551,025 CAD/Unit) 5.65% Cap Rate Oakland, CA 94606
Investment Highlights
- Immaculate Turnkey 4-Plex in Oakland: Completely renovated 2-bedroom, 1-bath units with modern amenities
- Great proximity to highways, public transit, parks, schools, and shopping
- Property delivered 100% vacant
- Secured garage parking, ample outdoor space with brand new pergola, on-site laundry, and private rear entrances
Executive Summary
Discover a VACANT, turnkey investment property in Oakland. Built-in 1951, this pristine fourplex is a contemporary gem with (4) new 2BR,1BA units meticulously updated to today's standards. Each unit features renovated kitchens with quartz countertops, sleek cabinets, modern hardware, and new appliances. Bathrooms boast new vanities, stylish showers or tubs, and chic tile flooring. Large, sunny rooms with new windows, updated flooring, and freshly painted interiors and exteriors enhance the living experience. Upgraded 100-amp electrical panels meet insurance requirements, with all work permitted and city-approved. The property offers an on-site laundry room, a new outdoor pergola, a detached garage with four secured separate garages, and ample outdoor space. Each unit has a private rear entrance leading to a shared courtyard. Preliminary permits for up to two ADUs present an opportunity to further boost rental income. Located in Oakland's serene Highland Terrace neighborhood, this property provides scenic views and a peaceful residential atmosphere, with proximity to highways, public transit, parks, schools, and shopping. With Oakland's thriving economy and Highland Terrace's blend of tranquility and convenience, this turnkey gem promises strong rental demand and long-term value!
Financial Summary (Pro forma - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$172,346
|
$51.60
|
| Other Income |
$7,849
|
$2.35
|
| Vacancy Loss |
$5,406
|
$1.62
|
| Effective Gross Income |
$174,789
|
$52.33
|
| Taxes |
-
|
-
|
| Operating Expenses |
$50,158
|
$15.02
|
| Total Expenses |
$50,158
|
$15.02
|
| Net Operating Income |
$124,631
|
$37.31
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $172,346 |
| Annual Per SF | $51.60 |
| Other Income (CAD) | |
|---|---|
| Annual | $7,849 |
| Annual Per SF | $2.35 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $5,406 |
| Annual Per SF | $1.62 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $174,789 |
| Annual Per SF | $52.33 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $50,158 |
| Annual Per SF | $15.02 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $50,158 |
| Annual Per SF | $15.02 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $124,631 |
| Annual Per SF | $37.31 |
Property Facts
| Price | $2,204,100 CAD | Property Subtype | Apartment |
| Price Per Unit | $551,025 CAD | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 3,340 SF |
| Cap Rate | 5.65% | Average Occupancy | 0% |
| Gross Rent Multiplier | 12.23 | No. Stories | 2 |
| No. Units | 4 | Year Built/Renovated | 1951/2024 |
| Property Type | Multifamily |
| Price | $2,204,100 CAD |
| Price Per Unit | $551,025 CAD |
| Sale Type | Investment |
| Cap Rate | 5.65% |
| Gross Rent Multiplier | 12.23 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Lot Size | 0.16 AC |
| Building Size | 3,340 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built/Renovated | 1951/2024 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | 810 - 920 |
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Walk Score ®
Very Walkable (75)
PROPERTY TAXES
| Parcel Number | 026-0786-002-00 | Total Assessment | $1,324,191 CAD |
| Land Assessment | $397,257 CAD | Annual Taxes | $0 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $926,934 CAD | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
026-0786-002-00
Land Assessment
$397,257 CAD
Improvements Assessment
$926,934 CAD
Total Assessment
$1,324,191 CAD
Annual Taxes
$0 CAD ($0.00 CAD/SF)
Tax Year
2024
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2231 E 28th St
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