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822 56th St
Oakland, CA 94608

Multifamily Property For Sale · 6 Units

Executive Summary

Property Tour | Oct 27th 11:00 AM - 1:00 PM |
- Desirable Unit Mix: The property features six units, including five charming studios and a spacious 2-bedroom, 1-bath apartment with its own private washer and dryer.
- Thoughtful Layout: The ground floor hosts the 2-bedroom apartment and one studio, while four additional studios are located upstairs, offering versatility to meet a variety of tenant preferences.
- Classic Architectural Appeal: Built in 1912, this building exudes timeless charm with its preserved historical character and unique details.
- Prime Location: Located on a peaceful, tree-lined street in North Oakland, near Berkeley and Temescal, with convenient access to Highways 24 and 580.
- Close to Amenities: Just a short stroll to public transportation, local cafes, laundry facilities, and everyday conveniences, making life easier for tenants.
Strong Rental Demand: Perfect for renters seeking both comfort and practicality, ensuring the property remains a highly sought-after choice in the rental market.
- Extensive Capital Improvements: Recent upgrades include a freshly painted staircase, repaired and replaced side shingles, updated landscaping, partial knob & tube wiring replacement, new windows, some new kitchen countertops and flooring, and a few new water heaters.
- Competitive Pricing: Offered at $175,000 per unit, with a 10.66 GRM and a 5.56% CAP rate, providing an attractive investment opportunity.
822 56th Street offers a highly desirable unit mix, featuring five charming studios and a spacious 2-bedroom, 1-bath unit with a private washer and dryer. The thoughtful layout includes the 2-bedroom apartment and one studio on the ground floor, while four additional studios occupy the second floor. Built in 1912, the building retains its classic architectural appeal, showcasing timeless charm and character that resonates with both residents and investors.
Located on a quiet, tree-lined street in North Oakland, the property benefits from a prime location close to Berkeley and the vibrant Temescal district, with easy access to Highways 24 and 580. Tenants will appreciate the convenience of being within walking distance of public transportation, local coffee shops, and essential services. This combination of peaceful surroundings and nearby amenities makes it an ideal choice for renters seeking both comfort and practicality.
In addition to its attractive location and unit mix, the property has undergone extensive capital improvements. Recent upgrades include a freshly painted staircase, repaired and replaced side shingles, updated landscaping, and partial updates to electrical wiring. Some windows, kitchen countertops, flooring, and water heaters have also been replaced. Priced competitively at $175,000 per unit, with a 10.66 GRM and a 5.56% CAP rate, this property represents an excellent investment opportunity in a strong rental market.

PROPERTY FACTS

Price Per Unit $248,850 CAD
Sale Type Investment
Cap Rate 5.56%
Gross Rent Multiplier 10.66
No. Units 6
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.09 AC
Building Size 3,092 SF
No. Stories 2
Year Built 1912

Unit Amenities

  • Kitchen
  • Refrigerator
  • Yard
  • Double Pane Windows
  • Freezer

Site Amenities

  • 24 Hour Access
  • Laundry Facilities
  • Public Transportation

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 1 - -

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
015-1283-007-00
Land Assessment
$311,024 CAD
Improvements Assessment
$769,019 CAD
Total Assessment
$1,080,043 CAD

zoning

Zoning Code R-40, Oakland
R-40, Oakland
  • Listing ID: 33511153

  • Date on Market: 2024-10-14

  • Last Updated:

  • Address: 822 56th St, Oakland, CA 94608

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