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Showing Mon 2/16 from 11:00AM-1:00PM 1290 26th Ave 24 Unit Apartment Building $3,695,000 ($153,958/Unit) 7.49% Cap Rate Oakland, CA 94601

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Investment Highlights

Twenty Four Units Comprised of Nineteen Studios, Two 1bd/1bth Units, and Three Retail Spaces Built in 1925
Improvements Include Updated Electrical Panels, Boiler Replaced w/ Low Cost Heating, Multiple Renovated Units, and Upgraded Fire Alarm System
Three Commercial Units may be Converted to Live/Work Apartments

Excellent Value Add Mixed Use Property w/ Multiple Vacant Units to Renovate and All Major Upgrades Completed
Full Size Basement for Parking Garage Conversion
Incredible Seller Financing Terms Available to Qualified Buyers - 4% IO for 7 Years Fixed

Executive Summary

Value-Add Mixed Use investment in Fruitvale comprised of twenty-four total units. 1290 26th Ave was built in 1925 and features a unit mix of nineteen studios, two 1bd/1bth units and three retail spaces. The property has a Walk Score rating of 90, and is in close proximity to shopping, dining, and the Fruitvale BART station. Major upgrades have been done including new fire alarm system, electrical upgrades, boiler replaced, units remodeled, and more. Huge basement is open and available for adding ADUs. High cash flow with amazing seller financing terms available for qualified Buyers.
Bordering the neighborhoods of Fruitvale and East Lake, the 26th Avenue Apartments provide a walkable Oakland setting with plenty to see, eat, and experience in the Bay Area. The neighborhood is just three miles from Downtown Oakland and about 14 miles from San Francisco's civic center. Explore International Boulevard, a fitting name for a place that houses taco shops, Cajun food, Thai food, and artisan coffee. 26th Avenue Apartments have the added benefit of being close to Interstate 880 and a few Bay Area Rapid Transit lines.

Property Facts

Price	$3,695,000	Apartment Style	Low-Rise
Price Per Unit	$153,958	Building Class	C
Sale Type	Investment	Lot Size	0.12 AC
Cap Rate	7.49%	Building Size	12,420 SF
Sale Condition	High Vacancy Property	Average Occupancy	75%
Gross Rent Multiplier	9.14	No. Stories	3
No. Units	24	Year Built	1925
Property Type	Multifamily	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Subtype	Apartment
Zoning	CN-3

Price	$3,695,000
Price Per Unit	$153,958
Sale Type	Investment
Cap Rate	7.49%
Sale Condition	High Vacancy Property
Gross Rent Multiplier	9.14
No. Units	24
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.12 AC
Building Size	12,420 SF
Average Occupancy	75%
No. Stories	3
Year Built	1925
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	CN-3