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$ 1,300,000
Est. payment /mo
Active
2246 23Rd Ave Oakland, CA 94606
4,715 SqFt
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,715 sqft
Price per Sqft $275
Subdivision Highland Terrace
MLS Listing ID 41144736
HOA Y/N No
Year Built 1926
Lot Size 2,840 Sqft
Acres 0.07
Property Sub-Type Multi Family
Property Description
Fully occupied seven-unit multifamily asset in Oakland's Highland Terrace neighborhood. $1,300,000 ($185,714/unit, $275/SF). 5.46% current cap rate vs. 7.41% at market rents, with 20.4% rental upside and 35.6% NOI growth potential with no capital spend. Recent capital improvements include upgraded plumbing, electrical, windows, and roof. Located under 1 mile from Highland Hospital and roughly 1.6 miles from Fruitvale BART, with direct access to I-880. In-place NOI: $70,803. Market NOI: $96,095. The 2 live/work style units are not permitted.
Location
State CA
County Alameda
Rooms
Basement Other
Interior
Heating Other
Cooling Other
Flooring Vinyl
Fireplace No
Building
Lot Description Corner Lot
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 267571
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Listed by Joseph Owens • Marcus & Millichap