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2802 38th Ave

3 Unit Block of Flats £625,960 (£208,653/Unit) 7.70% Net Initial Yield Oakland, CA 94619

Investment Highlights

  • Split between two 2BR/1BA units, one 3BR/1BA unit, and one commercial space, this is a unique, blended property that will generate $7,500 from day one
  • Tenants pay for all utilities (excluding garbage).
  • Nestled within the lively Allendale neighborhood, this property is a commuters delight; its proximity to I-580 makes accessing nearby cities a breeze.

Executive Summary

TRANSPARENT PRICING. All Units, Unit 2800 (Commercial) , Unit 2802 (2Bd/1Ba), Unit 2808 (2Bd/1Ba) and Unit 2810 (3Bd/1Ba), are tenant-occupied and can be shown via private tour. Contact Joey at joeywang@kw.com to schedule a tour or with questions. For the offering memorandum and inspection reports, go to https://forms.gle/KkKudmgnZkEXC5kY7
County records reflects 2,400 sf while 3,171 is derived from third-party floor plans.
Offers are Due on Tuesday, December 3rd, by noon.

Oakland’s 2802 38th Avenue is nothing short of a rare find. Split between two 2BR/1BA units, one 3BR/1BA unit, and one commercial space, this is a unique, blended property that will generate an astounding $7,500 per month from day one (with future income potential as high as $90,384). Nestled within the lively Allendale neighborhood, this property is a commuters delight; its proximity to I-580 makes accessing Downtown Oakland or San Francisco a breeze. Close to a collection of parks (Dimond Park, Joaquin Miller Park, etc.), schools (Allendale Elementary, Laurel Elementary, etc.), and the vibrant shopping of both Fruitvale Avenue and MacArthur Boulevard, tenants with families will especially love the versatility of this residence. From a property management standpoint, this is a no-frills investment that requires little in the way of regular expenses because tenants pay for all utilities (excluding garbage). Listed at a very modest $800,000.

Financial Summary (Pro forma - 2024) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income - -
Vacancy Loss - -
Effective Gross Income $99,999 $9.99
Net Operating Income - -

Financial Summary (Pro forma - 2024) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual -
Annual Per SF -

Property Facts

Price £625,960
Price Per Unit £208,653
Sale Type Investment
Net Initial Yield 7.70%
Gross Rent Multiplier 8.9
No. Units 3
Property Type Residential
Property Subtype Apartment
Building Class C
Lot Size 0.08 AC
Building Size 3,171 SF
Average Occupancy 100%
Number of Floors 1
Year Built 1925
Parking Ratio 0.32/1,000 SF

Unit Amenities

  • Refrigerator
  • Oven
  • Range
  • Tub/Shower
  • Patio

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
2+1 2 £1,362 845 - 900
3+1 1 £2,073 901
Walk Score ®
Very Walkable (78)
Bike Score ®
Very Bikeable (70)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
032-2054-031-00
Land Assessment
£137,993
Improvements Assessment
£281,078
Total Assessment
£419,071
  • Listing ID: 33870654

  • Date on Market: 14/11/2024

  • Last Updated:

  • Address: 2802 38th Ave, Oakland, CA 94619

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