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8-Units in Oakland Hills Built in 1986 3421 68th Ave 8 Unit Apartment Building $1,895,000 ($236,875/Unit) 9.71% Cap Rate Oakland, CA 94605
Investment Highlights
- 8-Unit Apartment Complex Featuring Two Buildings with Eight 3bd/1bth Townhome Units
- Extra Large 12,812 Square Foot Lot with Ample Room for Parking
- High Demand Oakland Hills Rental Location Near Mills College and HWY 580
- Built in 1986, 100% Occupied, with Excellent Current Income and Strong Rental Upside
- Separately Metered for Electric and Gas with Low Annual Operating Expenses
Executive Summary
8-unit apartment complex offering eight 3bd/1bth townhome unit with excellent current income and strong rental upside. The property was originally built in 1986, offers approximately 6,577 square feet of rental space, and sits on an oversized 12,812 square foot lot with ample room for parking. The property is 100% occupied with stable tenants paying market rent delivering market-leading cash flow. The property is easy to manage and is separately metered for PG&E providing for low annual operating expenses. The units have been remodeled and offer updated kitchens and bathrooms with stainless steel appliances, granite counter tops, newer cabinets, newer vanities, new fixtures, custom lighting, and more. The exterior and interior are in great condition with very little deferred maintenance resulting in an attractive turn-key investment. This is a high-demand Oakland hills location just minutes from HWY 580, HWY 880, and HWY 13, providing excellent connectivity throughout Oakland, Berkeley, San Leandro, and the greater Bay Area. The property is close to popular restaurants, coffee shops, parks, schools, grocery stores, neighborhood markets, and retail centers making this an easy building to rent so it's typically always 100% occupied.
***EMAIL DAVID HOWARTH AT DAVID@PINZAGROUP.COM OR TEXT 510-822-1331 FOR A COMPLETE MARKETING PACKAGE OR PRIVATE SHOWING.
***EMAIL DAVID HOWARTH AT DAVID@PINZAGROUP.COM OR TEXT 510-822-1331 FOR A COMPLETE MARKETING PACKAGE OR PRIVATE SHOWING.
Property Facts
| Price | $1,895,000 | Apartment Style | Low-Rise |
| Price Per Unit | $236,875 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.29 AC |
| Cap Rate | 9.71% | Building Size | 6,982 SF |
| Gross Rent Multiplier | 7.4 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1986 |
| Property Type | Multifamily | Parking Ratio | 1/1,000 SF |
| Property Subtype | Apartment |
| Price | $1,895,000 |
| Price Per Unit | $236,875 |
| Sale Type | Investment |
| Cap Rate | 9.71% |
| Gross Rent Multiplier | 7.4 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 6,982 SF |
| No. Stories | 2 |
| Year Built | 1986 |
| Parking Ratio | 1/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 8 | - | 872 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Good public transit
70/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 037A-2755-135-01 | Improvements Assessment | $1,626,421 |
| Land Assessment | $542,140 | Total Assessment | $2,168,561 |
Property Taxes
Parcel Number
037A-2755-135-01
Land Assessment
$542,140
Improvements Assessment
$1,626,421
Total Assessment
$2,168,561
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8-Units in Oakland Hills Built in 1986 | 3421 68th Ave