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No City Imposed Rent Control 1049 43rd St 12 Unit Apartment Building $3,195,000 ($266,250/Unit) 6.69% Cap Rate Emeryville, CA 94608
Investment Highlights
- (12) Spacious 1-bedroom, 1-bathroom units
- No city imposed rent increase restrictions
- Direct access to San Francisco via I-80 and the Bay Bridge
- (13) On-site Parking Spaces
- Convenient, central location within minutes of many amenities
Executive Summary
1049-1053 43rd Street consists of three multifamily buildings totaling 7,218 square feet, situated on a 13,342 square foot parcel, with a total of 12 1-bedroom, 1-bathroom units. With 9 of 12 units already renovated, these spacious and sophisticated unit renovations showcase modern design and aesthetic elements, including e?cient layouts, stainless steel appliance packages, and upgraded finishes throughout. Due to its desirable location, the property benefits significantly from very low vacancy and tremendous tenant demand. With strong in-place cash flow, the property can achieve both attractive financing and significant cash flow upside with additional unit turnover.
Property Facts
| Price | $3,195,000 | Apartment Style | Garden |
| Price Per Unit | $266,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.31 AC |
| Cap Rate | 6.69% | Building Size | 7,218 SF |
| Gross Rent Multiplier | 10.03 | No. Stories | 2 |
| No. Units | 12 | Year Built | 1950 |
| Property Type | Multifamily | Parking Ratio | 1.8/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RM2 - Multi-Family Dwelling | ||
| Price | $3,195,000 |
| Price Per Unit | $266,250 |
| Sale Type | Investment |
| Cap Rate | 6.69% |
| Gross Rent Multiplier | 10.03 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 7,218 SF |
| No. Stories | 2 |
| Year Built | 1950 |
| Parking Ratio | 1.8/1,000 SF |
| Zoning | RM2 - Multi-Family Dwelling |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Kitchen
- Oven
- Skylights
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | 600 |
Very walkable
80/100
Moderately drivable
70/100
Strong public transit
80/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 049-1026-028-00 | Improvements Assessment | $95,102 |
| Land Assessment | $40,770 | Total Assessment | $128,872 |
Property Taxes
Parcel Number
049-1026-028-00
Land Assessment
$40,770
Improvements Assessment
$95,102
Total Assessment
$128,872
Contacts
-
Rudas Gebregiorges -
Grant Chappell -
Ecaterina Bicova -
Jonathan Burmenko -
NAI Northern California
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