Showings: By Appointment Contact Broker | 1520 1st Ave
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Showings: By Appointment Contact Broker 1520 1st Ave
8 Unit Block of Flats £1,799,635 (£224,954/Unit) 6.02% Net Initial Yield Oakland, CA 94606
Investment Highlights
- Situated in the heart of the vibrant Lake Merritt neighborhood, this property offers a highly desirable location that is sought after by tenants and i
- Unlock additional revenue streams with the potential for constructing an Additional Dwelling Unit (ADU) and/or onsite laundry facilities, enhancing th
- Strategically located near major Oakland employers such as Kaiser Permanente and Sutter Health, this property offers an attractive housing option for
- With the flexibility to deliver 7 out of 8 units vacant upon sale, this property provides immediate possibilities for renovations or upgrades to maxim
- Enjoy easy access to transportation with the Lake Merritt BART Station just a brief 5-minute drive away, facilitating seamless commutes throughout the
Executive Summary
***Showings By Appointment Contact Broker Directly***
Berkshire Hathaway Commercial Property Group proudly presents 1520 1st Ave, Oakland, CA—an exceptional 8-unit multifamily property ideally situated in Downtown Oakland, steps away from the Lake Merritt. This property boasts a diverse mix of units, comprising (3) 2-bedroom, 1-bathroom residences, (3) spacious 1-bedroom, 1-bathroom units, and (2)
generous studio apartments with 1 bathroom each. Upon acquisition, the property offers the flexibility of delivering up to 7 out of 8 units vacant at the close of escrow, providing immediate opportunities for renovations or leasing at market value. Moreover, the property presents promising potential for further development, with the possibility of constructing an Additional Dwelling Unit (ADU) and an onsite laundry room, catering to tenant needs and enhancing property value. This is a great opportunity to acquire a lucrative asset in a great location.
Berkshire Hathaway Commercial Property Group proudly presents 1520 1st Ave, Oakland, CA—an exceptional 8-unit multifamily property ideally situated in Downtown Oakland, steps away from the Lake Merritt. This property boasts a diverse mix of units, comprising (3) 2-bedroom, 1-bathroom residences, (3) spacious 1-bedroom, 1-bathroom units, and (2)
generous studio apartments with 1 bathroom each. Upon acquisition, the property offers the flexibility of delivering up to 7 out of 8 units vacant at the close of escrow, providing immediate opportunities for renovations or leasing at market value. Moreover, the property presents promising potential for further development, with the possibility of constructing an Additional Dwelling Unit (ADU) and an onsite laundry room, catering to tenant needs and enhancing property value. This is a great opportunity to acquire a lucrative asset in a great location.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £1,799,635 | Property Subtype | Apartment |
| Price Per Unit | £224,954 | Apartment Style | Low Rise |
| Sale Type | Investment | Building Class | C |
| Net Initial Yield | 6.02% | Lot Size | 0.08 AC |
| Sale Conditions | Deferred Maintenance | Building Size | 5,049 SF |
| Gross Rent Multiplier | 11.76 | Average Occupancy | 50% |
| No. Units | 8 | Number of Floors | 3 |
| Property Type | Residential | Year Built | 1910 |
| Price | £1,799,635 |
| Price Per Unit | £224,954 |
| Sale Type | Investment |
| Net Initial Yield | 6.02% |
| Sale Conditions | Deferred Maintenance |
| Gross Rent Multiplier | 11.76 |
| No. Units | 8 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 5,049 SF |
| Average Occupancy | 50% |
| Number of Floors | 3 |
| Year Built | 1910 |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 3 | - | - |
| 1+1 | 3 | - | - |
| Studios | 2 | - | - |
1 of 1
Walk Score ®
Walker's Paradise (93)
Transit Score ®
Excellent Transit (75)
Bike Score ®
Biker's Paradise (94)
PROPERTY TAXES
| Parcel Number | 020-0181-012-00 | Improvements Assessment | £420,511 |
| Land Assessment | £76,350 | Total Assessment | £496,861 |
PROPERTY TAXES
Parcel Number
020-0181-012-00
Land Assessment
£76,350
Improvements Assessment
£420,511
Total Assessment
£496,861
Contacts
-
Matthew Rulloda -
Monjid Aldiyyat -
Berkshire Hathaway|Drysdale Properties Home Svc
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Showings: By Appointment Contact Broker | 1520 1st Ave
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