2246 23Rd Ave, Oakland, CA 94606
- $1,300,000
- List Price
- $1,300,000
- Status
- ACTIVE
- MLS#
- 41144736
- Year Built
- 1926
- Lot Size
- 2,840
- Acres
- 0.07
- Lot Location
- Corner Lot
- Days on Market
- 32
- Property Type
- Multifamily
- Neighborhood
- Highland Terrace
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.
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Additional Information
- Taxes
- $19,927
- Heat
- See Remarks
- Cooling
- Yes
- Cooling Description
- See Remarks
- Exterior Construction
- Stucco
- Attached Structure
- Detached
- Number Of Units Total
- 7
- Gross Scheduled Income
- $132,000
Listing courtesy of Listing Agent: Joseph Owens (joe.owens@marcusmillichap.com) from Listing Office: Marcus & Millichap.
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