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Listed by Joseph Owens • Marcus & Millichap
$ 1,300,000
Est. payment /mo
New
2246 23Rd Ave Oakland, CA 94606
4,715 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 4,715 sqft
Price per Sqft $275
Subdivision Highland Terrace
MLS Listing ID 41144736
HOA Y/N No
Year Built 1926
Lot Size 2,840 Sqft
Property Sub-Type 5 or More Units
Source Bridge AOR
Property Description
Fully occupied seven-unit multifamily asset in Oakland's Highland Terrace neighborhood. $1,300,000 ($185,714/unit, $275/SF). 5.46% current cap rate vs. 7.41% at market rents, with 20.4% rental upside and 35.6% NOI growth potential with no capital spend. Recent capital improvements include upgraded plumbing, electrical, windows, and roof. Located under 1 mile from Highland Hospital and roughly 1.6 miles from Fruitvale BART, with direct access to I-880. In-place NOI: $70,803. Market NOI: $96,095. The 2 live/work style units are not permitted.
Location
State CA
County Alameda
Interior
Heating Other
Cooling Other
Flooring Vinyl
Fireplace No
Building
Lot Description Corner Lot
Water Public
Others
Special Listing Condition Standard
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