7.2 CAP - $670K below MAI appraisal 2605 9th Ave 10 Unit Apartment Building $2,598,000 ($259,800/Unit) 7.20% Cap Rate Oakland, CA 94606

This very nostalgic 2 story property is located at 2605 9th Ave in Oakland California. It has 7,600 rentable square feet, with 10 large units including 8 two-bedroom one-bathroom and 2 one-bedroom/onebathroom all with private baths and kitchens on a .17 acre lot with 10 parking spaces. The property was built in 1964, with a concrete perimeter foundation, exterior walls are wood, and the roof is composition shingle. There is laundry on site. 100% of the units have been renovated and are brand new. All units have separate gas + electric meters and individual hot water heaters minimizing the owner’s expenses. This building allows the next owner to increase returns and leverage investment in the hot Oakland market. The subject has no deferred maintenance and is in good condition. 2605 9th Ave blends historic charm with urban realities, offering affordable living with great potential and a strong sense of community, particularly appealing to those seeking proximity to medical facilities and a diverse, established neighborhood. The quality of the building is maintained with pride. The units are separately metered for gas and electricity. The units have pleasant views from the entry and living room of upstairs units. The laundry is coin operated for additional income. The property is located in quiet Ivy Hill in Oakland; we have newly remodeled pet and smoke-free apartments. East of Lake Merritt and Lakeside Park is the urban community of Ivy Hill. Residents of this residential neighborhood enjoy convenient access to two parks: FM Smith and Park Boulevard Plaza. With the latter being the largest, Park Boulevard Plaza consists of expansive green space. Construction is typical wood framing with concrete foundation walls raised foundation on the northern portion. The exterior finishes consist of painted brick veneer and stucco siding. The flat roof contains built up covering. Units are heated by electric wall heaters. Domestic water lines are copper. Electrical wiring is observed as copper. The soft story work is in the process of being completed and the sewer lateral is completed. The property at 2605 9th Ave in Oakland has strong investment potential due to its proximity to major employers, transportation routes, shopping centers, dining venues, and entertainment options. It is an attractive option for renters seeking convenience and accessibility. The combination of a robust economy and desirable location make this property a promising investment opportunity in the Oakland real estate market. Ivy Hill in East Oakland is a diverse, dense, and vibrant neighborhood known for its mix of historic and modern housing (often smaller units/apartments), strong community feel, proximity to Lake Merritt and parks (like FM Smith Park), eclectic local businesses, and excellent transit/highway access, making it a lively, urban spot with an aboveaverage feel for young professionals and families. Ivy Hill is a small community, just blocks from the windswept shores of Lake Merritt. The neighborhood showcases widely mixed and colorful housing that is within walking distance of diverse and eclectic local small businesses. “Some of the biggest highlights of the neighborhood are that it’s below Highway 580, and it’s in a convenient part of town with great proximity to Lake Merritt and the Grand Avenue commercial district,” says Jeff Weissman, a longtime Bay Area Realtor and Broker with Avenue 8. Public transportation is available throughout the area and provided by AC Transit. The subject’s neighborhood is served by Interstate 880, 980, and 580. Major thoroughfares throughout the immediate area include Foothill Boulevard, Fruitvale Avenue, and E. 8th Street. The Oakland International Airport is within proximity to the You will appreciate the neighborhood amenities near 2605 9th Ave. This part of Oakland is bike friendly, so you get around town easily. You can go for a walk in one of the neighborhood parks. If you like to walk, you will find streets lined with trees and sidewalks that are well-lit at night. Residents in this neighborhood consider the area to be walkable with stores, public transportation, and shops nearby. The property at 2605 9th Ave in Oakland has strong investment potential due to its proximity to major employers, transportation routes, shopping centers, dining venues, and entertainment options. It is an attractive option for renters seeking convenience and accessibility. The combination of a robust economy and desirable location make this property a promising investment opportunity in the Oakland real estate market. Subject community services and facilities are readily available in the surrounding area. These include public services such as fire stations, hospitals, police stations, and schools (all ages). The subject property is located in an established area. Residential uses present in the subject’s neighborhood include single-family development and multifamily uses. Commercial developments are located along major thoroughfares and are accessible from the subject.