2802 38th Ave
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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.
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 | Building Class | C |
Price Per Unit | £208,653 | Lot Size | 0.08 AC |
Sale Type | Investment | Building Size | 3,171 SF |
Net Initial Yield | 7.70% | Average Occupancy | 100% |
Gross Rent Multiplier | 8.9 | Number of Floors | 1 |
No. Units | 3 | Year Built | 1925 |
Property Type | Residential | Parking Ratio | 0.32/1,000 SF |
Property Subtype | Apartment |
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 |
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Walk Score ®
Very Walkable (78)
Bike Score ®
Very Bikeable (70)
PROPERTY TAXES
Parcel Number | 032-2054-031-00 | Improvements Assessment | £281,078 |
Land Assessment | £137,993 | Total Assessment | £419,071 |
PROPERTY TAXES
Parcel Number
032-2054-031-00
Land Assessment
£137,993
Improvements Assessment
£281,078
Total Assessment
£419,071
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2802 38th Ave
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