$750,000
$745,000
0.7%For more information regarding the value of a property, please contact us for a free consultation.
2,761 Sqft Lot
SOLD DATE : 04/10/2020
Key Details
Sold Price $750,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 40896543
Sold Date 04/10/20
HOA Y/N No
Year Built 1903
Lot Size 2,761 Sqft
Property Description
This fully vacant duplex located in up and coming West Oakland comes with fully approved plans and permits in hand. Located near Oakland's desirable Uptown Neighborhood, and 5 minutes from the 19th Street Bart Station, this property is a commuter's dream. Upon execution of the Plans, this property will consist of a 4 bedroom/3 bathroom unit downstairs and a 3 bedroom/2 bathroom unit upstairs. The projected rent for the downstairs unit is $3,945/mo and the projected rent for the upstairs unit is $3,215, making the annual gross rental potential $85,920. Including renovation costs, this property is being sold at a 6.3% cap rate, which is significantly higher than most rental properties currently on the market, making this the perfect opportunity for a savvy investor or for a homeowner looking to offset the cost of their mortgage.
Location
State CA
County Alameda
Interior
Heating None
Fireplace No
Exterior
Garage On Street
Roof Type Shingle
Building
Sewer Public Sewer
Others
Tax ID 3137
Acceptable Financing Cash, Conventional, 1031 Exchange, FHA
Listing Terms Cash, Conventional, 1031 Exchange, FHA
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880 Roosevelt Suite 250, Irvine, California, 92620, United States