$925,000
$929,000
0.4%For more information regarding the value of a property, please contact us for a free consultation.
5,863 Sqft Lot
SOLD DATE : 02/06/2024
Key Details
Sold Price $925,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 41046623
Sold Date 02/06/24
HOA Y/N No
Year Built 1940
Lot Size 5,863 Sqft
Property Description
This 4 unit Multi-Family property is ideal for investors seeking substantial returns. Currently generating actual CAP rate pf 6% with pro forma CAP at 6.5%. With its prime location in Longfellow Neighborhood of Oakland and impressive income, this property promises to be a lucrative addition to any investment portfolio. 1 Unit to be delivered vacant; ideal for owner occupancy in one while collecting market rate rents on 3 other units. 2 of the 4 units have been completely remodeled with new kithchen, remodeled bathrooms, new dual paned windows, and luxury vinyl plank flooring throughout. Exterior is newly painted. New concrete wallway and drlveway and low maintainance front landscaping. Each unit is separately metered for gas and electric utilities makes for lower operating cost for owner. 4 spacious 1 bedroom/1bath units. Large lot with at least 7 off street parking spaces. The backyard has potential for placement of an ADU for additional rental income potential. Property will offer investor potential tax savings as it is located in Opportunity Zone.
Location
State CA
County Alameda
Interior
Heating Baseboard, Wall Furnace
Flooring Carpet, Laminate, Tile
Fireplace No
Appliance Gas Water Heater
Exterior
Parking Features On Street
Roof Type Shingle
Total Parking Spaces 7
Building
Lot Description Back Yard, Front Yard, Street Level
Sewer Public Sewer
Others
Tax ID 1295557
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Conventional
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Bought with Tina Harris • Better Homes Realty
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "