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92% LTV Seller Financing at 4% IO for 7 Years 1290 26th Ave 24 Unit Apartment Building $3,695,000 ($153,958/Unit) 7.49% Cap Rate Oakland, CA 94601
Investment Highlights
- 24 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
24-unit mixed-use investment featuring a unit mix of nineteen studios, two 1bd/1bth units, and three retail spaces. Excellent seller financing is available with only 3.0% down payment (97% LTV), 4.0% Interest Only, and a 7-year term. The property was originally built in 1925, offers 12,420 square feet of rental space, and offers a large basement perfect for building additional units. Many capital improvements have been completed including a new fire alarm system, electrical upgrades, boiler replaced, remodeled
units, and more. The units have been remodeled over time and offer newer kitchens, bathrooms, upgraded electrical and plumbing, new flooring, newer exterior and interior paint, and more. The exterior and interior are in great condition with very little deferred maintenance resulting in an attractive turn-key investment for the next owner. The property is near many restaurants, coffee shops, and many different shopping options. The property borders the neighborhoods of Fruitvale and East Lake and is only three miles from Downtown Oakland and about 14 miles to Downtown San Francisco.
****EMAIL DAVID@PINZAGROUP.COM FOR A COMPLETE MARKETING PACKAGE AND PRIVATE SHOWING.
units, and more. The units have been remodeled over time and offer newer kitchens, bathrooms, upgraded electrical and plumbing, new flooring, newer exterior and interior paint, and more. The exterior and interior are in great condition with very little deferred maintenance resulting in an attractive turn-key investment for the next owner. The property is near many restaurants, coffee shops, and many different shopping options. The property borders the neighborhoods of Fruitvale and East Lake and is only three miles from Downtown Oakland and about 14 miles to Downtown San Francisco.
****EMAIL DAVID@PINZAGROUP.COM FOR A COMPLETE MARKETING PACKAGE AND PRIVATE SHOWING.
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Oven
- Range
- Tub/Shower
- Basement
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Walking/Biking Trails
- Storage Space
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 22 | - | 450 |
| 1+1 | 2 | - | 550 |
1 1
Fairly walkable
50/100
Very drivable
80/100
Strong public transit
80/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 025-0744-001-00 | Improvements Assessment | $2,693,075 |
| Land Assessment | $1,196,460 | Total Assessment | $3,901,155 |
Property Taxes
Parcel Number
025-0744-001-00
Land Assessment
$1,196,460
Improvements Assessment
$2,693,075
Total Assessment
$3,901,155
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92% LTV Seller Financing at 4% IO for 7 Years | 1290 26th Ave
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