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59 10th St

12 Unit Block of Flats £2,267,054 (£188,921/Unit) 6.17% Net Initial Yield Oakland, CA 94607

Investment Highlights

  • 4-room 1 bedroom units
  • Separate PG&E meters
  • Gas wall heaters
  • No shared walls
  • Separate water meters
  • 2 bedroom conversion potential

Executive Summary

59 10th Street is a charming 12-unit, 10,806 square foot wood-framed apartment building, built in 1912. With its historic character and period details, the building exudes a sense of timeless elegance. Each spacious four-room unit—comprised of a kitchen, living room, bedroom, and den—offers abundant natural light and versatile living space, providing an ideal canvas for potential conversion into two-bedroom layouts. The property is thoughtfully designed, with each unit separately metered for PG&E and water, complemented by individual heating systems and water heaters. The building doesn't have an elevator or any required landscaping. All of these features contribute to its remarkably low historical operating expenses. 59 10th Street offers a blend of vintage charm and practical functionality to create a unique living experience in the heart of Oakland. 59 Tenth Street has been significantly upgraded. The building has been seismically retrofitted. The roof is new and well sloped for drainage. The exterior has been painted and many of the apartments have been remodeled. Also, the Henry J. Kaiser Convention Center is being renovated adding new theaters, performing arts spaces and office space.

Data Room Click Here to Access

Property Facts

Price £2,267,054
Price Per Unit £188,921
Sale Type Investment
Net Initial Yield 6.17%
Gross Rent Multiplier 11.14
No. Units 12
Property Type Residential
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.11 AC
Building Size 10,806 SF
Average Occupancy 92%
Number of Floors 3
Year Built 1912
Opportunity Zone Yes

Unit Amenities

  • Heating
  • Tile Floors
  • Kitchen
  • Wooden Floors
  • Tub/Shower

Site Amenities

  • 24 Hour Access
  • Walk-Up

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
1+1 12 - 775
Walk Score ®
Walker's Paradise (95)
Transit Score ®
Excellent Transit (85)
Bike Score ®
Biker's Paradise (91)
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
002-0093-004-00
Land Assessment
£683,272
Improvements Assessment
£1,316,437
Total Assessment
£1,999,709

zoning

Zoning Code S2/S4, Oakland
S2/S4, Oakland
  • Listing ID: 33366468

  • Date on Market: 01/10/2024

  • Last Updated:

  • Address: 59 10th St, Oakland, CA 94607

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