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573 59th St 4 Unit Apartment Building $1,150,000 ($287,500/Unit) 5.41% Cap Rate Oakland, CA 94609
INVESTMENT HIGHLIGHTS
- Two duplexes on one 6,600 Sq Ft Parcel
- Washer and Dryer hook ups in all units
- Substantial rental upside
- Recent driveway replacement with new pavers
- Spacious units of 1,000 Sq Ft +
- Numerous retail and dining options within walking distance
EXECUTIVE SUMMARY
Situated in North Oakland on a quiet street, this is a rare 4-unit opportunity featuring two duplexes on one parcel. Two of the units boast original 1920's charm with spacious living area and laundry. With significant rental upside and an appealing owner-occupant potential, investors will appreciate its prime location near Ashby BART and Highway 24, offering easy access to transportation and an array of retail and dining options within walking distance.
Located in a dynamic neighborhood, the area offers an eclectic mix of dining, shopping, and entertainment options. Just a short distance from the property, residents can explore the charming shops and cafes of Temescal, or take a leisurely stroll through the scenic pathways of Mosswood Park. With easy access to public transportation and major roadways, this location provides convenience for all residents. Investors seeking a prime location with a compelling local atmosphere will find this area to be an ideal choice for a multifamily investment opportunity.
Located in a dynamic neighborhood, the area offers an eclectic mix of dining, shopping, and entertainment options. Just a short distance from the property, residents can explore the charming shops and cafes of Temescal, or take a leisurely stroll through the scenic pathways of Mosswood Park. With easy access to public transportation and major roadways, this location provides convenience for all residents. Investors seeking a prime location with a compelling local atmosphere will find this area to be an ideal choice for a multifamily investment opportunity.
PROPERTY FACTS Under Contract
| Price | $1,150,000 | Property Subtype | Apartment |
| Price Per Unit | $287,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 5.41% | Building Size | 4,550 SF |
| Gross Rent Multiplier | 11.52 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1923 |
| Price | $1,150,000 |
| Price Per Unit | $287,500 |
| Sale Type | Investment |
| Cap Rate | 5.41% |
| Gross Rent Multiplier | 11.52 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 4,550 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1923 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | - | - |
1 1
Walk Score®
Walker's Paradise (91)
Bike Score®
Biker's Paradise (98)
PROPERTY TAXES
| Parcel Number | 015-1373-041-00 | Improvements Assessment | $236,440 |
| Land Assessment | $101,331 | Total Assessment | $337,771 |
PROPERTY TAXES
Parcel Number
015-1373-041-00
Land Assessment
$101,331
Improvements Assessment
$236,440
Total Assessment
$337,771
CONTACTS
-
Grant Chappell -
Jonathan Burmenko -
Robert Chappell -
Sam Hayes -
NAI Northern California
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573 59th St
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