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1140 E 22nd St 5 Unit Apartment Building $1,725,000 ($345,000/Unit) 6.42% Cap Rate Oakland, CA 94606
Executive Summary
The Mitchell Warren Team is pleased to present 1140 E 22nd Street, a fully renovated 5-unit property located in Oakland's Clinton neighborhood. The property consists of one (1) large 3-bedroom 2- bathroom unit totaling 1,100 square feet, one (1) 2-bedroom 2- bathroom unit, and three (3) 2-bedroom 1-bathroom units. Each unit has its own private balcony, modern gourmet kitchen with premium appliances, new bathrooms, huge closets, vinyl wood flooring, recessed LED lighting, and brand-new modern design laminate glass entry door. Each unit is also individually metered for Gas and Electricity, limiting the operating expenses. This is an excellent opportunity to acquire a fully occupied turn-key stabilized asset.
1140 E 22nd St is located in the charming Clinton Neighborhood of Oakland just blocks from Lake Merritt. Situated south of Grand Avenue, the location allows tenants the convenience of Trader Joe's, Starbucks, and various cafes and shops, all within walking distance. Tenants may also indulge in the best of Oakland's restaurants and nightlife, including the charming Grand Lake Theatre just a short distance from the property. Commuters will appreciate the proximity of city bus lines and the Lake Merritt BART Station, allowing access to the entire Bay Area. This location will continue to demand premium tenants and maintain a low vacancy rate.
1140 E 22nd St is located in the charming Clinton Neighborhood of Oakland just blocks from Lake Merritt. Situated south of Grand Avenue, the location allows tenants the convenience of Trader Joe's, Starbucks, and various cafes and shops, all within walking distance. Tenants may also indulge in the best of Oakland's restaurants and nightlife, including the charming Grand Lake Theatre just a short distance from the property. Commuters will appreciate the proximity of city bus lines and the Lake Merritt BART Station, allowing access to the entire Bay Area. This location will continue to demand premium tenants and maintain a low vacancy rate.
Property Facts
| Price | $1,725,000 | Building Class | C |
| Price Per Unit | $345,000 | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 4,707 SF |
| Cap Rate | 6.42% | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1966 |
| Property Subtype | Apartment | Parking Ratio | 2.12/1,000 SF |
| Apartment Style | Low-Rise |
| Price | $1,725,000 |
| Price Per Unit | $345,000 |
| Sale Type | Investment |
| Cap Rate | 6.42% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 4,707 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1966 |
| Parking Ratio | 2.12/1,000 SF |
Amenities
Unit Amenities
- Balcony
- Dishwasher
- Disposal
- Washer/Dryer Hookup
- Heating
- Tile Floors
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Yard
- Deck
- Double Pane Windows
- Family Room
- Freezer
- Lawn
- Linen Closet
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Fenced Lot
- Laundry Facilities
- Storage Space
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 5 | - | - |
1 1
Walk Score®
Very Walkable (80)
Property Taxes
| Parcel Number | 022-0301-023-00 | Improvements Assessment | $1,022,891 |
| Land Assessment | $796,467 | Total Assessment | $1,819,358 |
Property Taxes
Parcel Number
022-0301-023-00
Land Assessment
$796,467
Improvements Assessment
$1,022,891
Total Assessment
$1,819,358
Contacts
-
Timothy Warren -
Kent Mitchell -
Randell Silva -
Adam Beeri -
NAI Northern California
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1140 E 22nd St
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