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429 Vernon St 8 Unit Apartment Building $1,099,000 ($137,375/Unit) 5.03% Cap Rate Oakland, CA 94610
Investment Highlights
- TRANSIT-ORIENTED ADAMS POINT LOCATION; 1.3 MILES TO BART, 0.4 MILES I-580 & 1.4 MILES TO I-880
- OAKLAND BOUNCE BACK 8.8% EFFECTIVE RENT GROWTH SINCE Q3 2024
- RENTAL UPSIDE: $343 AVG. LTL AND THREE VACANT UNITS
- ATTRACTIVE UNIT MIX; 7(1X1) AND 1(0X1)
Executive Summary
Part of a 3 property, 26-unit portfolio.
Property Facts
| Price | $1,099,000 | Property Subtype | Apartment |
| Price Per Unit | $137,375 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.03% | Lot Size | 0.14 AC |
| Sale Condition | Bulk/Portfolio Sale | Building Size | 5,008 SF |
| Gross Rent Multiplier | 8.31 | Average Occupancy | 62% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1905 |
| Price | $1,099,000 |
| Price Per Unit | $137,375 |
| Sale Type | Investment |
| Cap Rate | 5.03% |
| Sale Condition | Bulk/Portfolio Sale |
| Gross Rent Multiplier | 8.31 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 5,008 SF |
| Average Occupancy | 62% |
| No. Stories | 2 |
| Year Built | 1905 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 8 | - | - |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 010-0791-005-00 | Improvements Assessment | $737,955 |
| Land Assessment | $316,266 | Total Assessment | $1,054,221 |
Property Taxes
Parcel Number
010-0791-005-00
Land Assessment
$316,266
Improvements Assessment
$737,955
Total Assessment
$1,054,221
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Contact the Sale Advisor
429 Vernon St