Description
Check out the marketing package here: https://bit.ly/kitehillre. This fully remodeled 4-unit apartment building in Cleveland Heights, Oakland, presents an outstanding investment opportunity. Each unit features modernized interiors, with (3) 1-bed and (1) 2-bed owner’s unit that’s ideal for an owner-occupier. Previously, the property was successfully rented as medium-term rentals with furnished units. The current owner is open to including the furniture in the sale, allowing the new buyer to continue this strategy seamlessly. Financially, the property is strong, with a (GRM) of 12 and a cap rate of 5.13%. The property has been fully remodeled, including rewiring and some exterior updates, such as new paint, fascia, and soffit work. Additional amenities include 4 off-street parking spaces, 1 garage, coin-operated laundry, and a shared common space in the back. Moreover, the property is entitled for the development of 20 new apartment units, offering a prime opportunity for investors looking to expand or redevelop. This potential for growth in Oakland's thriving rental market makes the property a versatile and promising investment. Whether you seek a stable, income-generating asset or are interested in a larger development project, this property offers flexibility and
Property Details
- Acres0.1248
Construction Details
- Property TypeMulti-Family
Condition
- Year Built1920
Utilities / Energy Details
- Sewer InformationPublicSewer
Community and Neighborhood Details
- CountyAlameda
Financial Details
- Original List Price$1,598,000
Other
- MLS #41071524
Location
Legal
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Jatin Mehta (#BMLS-R02045713)
Listing Office: Pellego (#BMLS-OBPELLEGO)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
