Arbor Villa | 2247 Ivy Dr
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Arbor Villa 2247 Ivy Dr
5 Unit Block of Flats £966,525 (£193,305/Unit) 6.11% Net Initial Yield Oakland, CA 94606
Investment Highlights
- Significant rental upside
- Retrofit completed
- Oversized units
Executive Summary
Motivated Seller looking at all offers.
This 5-unit multifamily investment opportunity located in the Ivy Hill neighborhood in Oakland, California, offers a promising financial future. The 5,568 square foot property consists of three large 2 bedroom/1 bathroom units and two spacious 1 bedroom/1 bathroom units in a three-story building of wood frame and stucco construction. The property features private entries, central heating, new kitchens with stainless steel appliances, new bathrooms, and a low-maintenance landscape. Tenants are separately metered for PG&E, ensuring remarkably low operating expenses for new ownership. In addition, the building was recently seismically retrofitted, saving any investor the headache and cost of completing this big ticket item themselves. 2247 Ivy Dr is located in the desirable Ivy Hill neighborhood, just 3 minutes away from Oakland’s Lake Merritt. Tenants can enjoy all the lake activities, as well as nearby restaurants, cafes, parks, and shopping, making this property a sound investment with promising financial benefits.
This 5-unit multifamily investment opportunity located in the Ivy Hill neighborhood in Oakland, California, offers a promising financial future. The 5,568 square foot property consists of three large 2 bedroom/1 bathroom units and two spacious 1 bedroom/1 bathroom units in a three-story building of wood frame and stucco construction. The property features private entries, central heating, new kitchens with stainless steel appliances, new bathrooms, and a low-maintenance landscape. Tenants are separately metered for PG&E, ensuring remarkably low operating expenses for new ownership. In addition, the building was recently seismically retrofitted, saving any investor the headache and cost of completing this big ticket item themselves. 2247 Ivy Dr is located in the desirable Ivy Hill neighborhood, just 3 minutes away from Oakland’s Lake Merritt. Tenants can enjoy all the lake activities, as well as nearby restaurants, cafes, parks, and shopping, making this property a sound investment with promising financial benefits.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£93,066
|
£16.71
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£93,066
|
£16.71
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £93,066 |
| Annual Per SF | £16.71 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £93,066 |
| Annual Per SF | £16.71 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | £966,525 | Apartment Style | Low Rise |
| Price Per Unit | £193,305 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Net Initial Yield | 6.11% | Building Size | 5,568 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 10.2 | Number of Floors | 2 |
| No. Units | 5 | Year Built | 1941 |
| Property Type | Residential | Parking Ratio | 1.44/1,000 SF |
| Property Subtype | Apartment |
| Price | £966,525 |
| Price Per Unit | £193,305 |
| Sale Type | Investment |
| Net Initial Yield | 6.11% |
| Sale Conditions | 1031 Exchange |
| Gross Rent Multiplier | 10.2 |
| No. Units | 5 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 5,568 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built | 1941 |
| Parking Ratio | 1.44/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 800 |
| 2+1 | 3 | - | 1,233 |
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Walk Score ®
Walker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 022-0338-015-00 | Improvements Assessment | £839,528 (2024) |
| Land Assessment | £518,387 (2024) | Total Assessment | £1,357,915 (2024) |
PROPERTY TAXES
Parcel Number
022-0338-015-00
Land Assessment
£518,387 (2024)
Improvements Assessment
£839,528 (2024)
Total Assessment
£1,357,915 (2024)
zoning
| Zoning Code | R-70, Oakland |
| R-70, Oakland |
-
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Arbor Villa | 2247 Ivy Dr
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