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3541 Dimond Ave 13 Unit Apartment Building $1,625,000 ($125,000/Unit) 6.83% Cap Rate Oakland, CA 94602
INVESTMENT HIGHLIGHTS
- COMPELLING BASIS WITH ±$125K IN RECENT CAP EX
- AUTHENTIC WALKABLE NEIGHBORHOOD WITH REGIONAL CONNECTIVITY
- DURABLE & THRIVING ECONOMIC HUB
EXECUTIVE SUMMARY
Berkadia is pleased to present the opportunity to acquire 3541 Dimond Avenue, (the “Property'' or 3541 Dimond''), 13 well-maintained units that have undergone ±$125,000 of recent capital improvements and is located in a thriving and walkable Oakland neighborhood. Owned by the same family for more than forty-five years, 3541 Dimond is offered for sale at a ±6.85% in-place cap rate which equates to a compelling cost basis of $125,000 per unit, and has recently undergone an extensive roof repair and SB721 compliance certification. Cash flow upside can be realized through the capture of the Property's ±25% in-place loss-to-lease by marking units to market rent upon unit turnover. Investors have the opportunity to implement additional repositioning premiums of ±230 per unit through renovations, realizing a ±13% increase upon stabilization on potential rental income. Benefitting from its low basis and a preferred location, 3541 Dimond is a limited risk investment that combines these solid fundamentals with a strong initial yield and substantial upside.
PROPERTY FACTS Under Contract
| Price | $1,625,000 | Apartment Style | Low-Rise |
| Price Per Unit | $125,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.83% | Building Size | 7,740 SF |
| Gross Rent Multiplier | 7.99 | Average Occupancy | 100% |
| No. Units | 13 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1959 |
| Property Subtype | Apartment | Parking Ratio | 1.29/1,000 SF |
| Zoning | RM-4 - Mixed Use Housing Type Residential | ||
| Price | $1,625,000 |
| Price Per Unit | $125,000 |
| Sale Type | Investment |
| Cap Rate | 6.83% |
| Gross Rent Multiplier | 7.99 |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,740 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1959 |
| Parking Ratio | 1.29/1,000 SF |
| Zoning | RM-4 - Mixed Use Housing Type Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Range
- Carpet
SITE AMENITIES
- Laundry Facilities
- Recycling
- Smoke Free
- Storage Space
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 2 | - | 450 |
| 1+1 | 8 | - | 600 |
| 2+1 | 3 | - | 680 |
1 1
Walk Score®
Walker's Paradise (93)
Bike Score®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 029A-1301-014-00 | Improvements Assessment | $1,435,000 |
| Land Assessment | $615,000 | Total Assessment | $2,050,000 |
PROPERTY TAXES
Parcel Number
029A-1301-014-00
Land Assessment
$615,000
Improvements Assessment
$1,435,000
Total Assessment
$2,050,000
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3541 Dimond Ave
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