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181 Units Plus City Block of Garages 4 Multifamily Properties Offered at $45,863,094 CAD in Oakland, CA
Investment Highlights
- 7.5% CAP Rate with Upside
- Own 181 Units with Economy of Scale on Same Block in Oakland
- Entire City Block of Garages Included
- Fully Rehabilitated
- Soft Story and Sewer Lateral Completed
- Beautiful Marina Style Buildings
Executive Summary
COOPERATING WITH ALL BROKERS!
This portfolio of 181 units plus an entire city block of 43 garages is located on the same block in the Fruitvale area made up of mostly blue-collar Hispanics.
The total mean cap rate is 7.5%. The buildings are completely renovated with great management in place. One of the buildings has a waiver of Ad Valorem property taxes and all buildings have 30% upside in the rents. The buildings can be sold separately, but a portfolio sale if preferred. They have a great unit mix of studios, 1 and 2 bedrooms with parking. It is walking distance to Fruitvale BART Station. There is no deferred maintenance. All Buildings are individually metered for gas and electric. The buildings are well constructed marina style buildings with electrical upgrades and new roofs in some and sewer lateral and soft story work done in others. Seller is ready to make a deal and is very motivated.
This portfolio of 181 units plus an entire city block of 43 garages is located on the same block in the Fruitvale area made up of mostly blue-collar Hispanics.
The total mean cap rate is 7.5%. The buildings are completely renovated with great management in place. One of the buildings has a waiver of Ad Valorem property taxes and all buildings have 30% upside in the rents. The buildings can be sold separately, but a portfolio sale if preferred. They have a great unit mix of studios, 1 and 2 bedrooms with parking. It is walking distance to Fruitvale BART Station. There is no deferred maintenance. All Buildings are individually metered for gas and electric. The buildings are well constructed marina style buildings with electrical upgrades and new roofs in some and sewer lateral and soft story work done in others. Seller is ready to make a deal and is very motivated.
Property Facts
| Price | $45,863,094 CAD | Number of Properties | 4 |
| Price / SF | $341.84 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 7.50% | Total Building Size | 134,166 SF |
| Sale Type | Investment | Total Land Area | 1.54 AC |
| Status | Active |
| Price | $45,863,094 CAD |
| Price / SF | $341.84 CAD / SF |
| Cap Rate | 7.50% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 134,166 SF |
| Total Land Area | 1.54 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Casa Magna
2555-2567 Foothill Blvd, Oakland, CA 94601 |
Multifamily | 54,507 SF | 1947 | - |
|
Kensington Manor Apartments
2624 Foothill Blvd, Oakland, CA 94601 |
Multifamily | 29,423 SF | 1928 | - |
|
The Kensington Plaza
1757 26th Ave, Oakland, CA 94601 |
Multifamily | 25,447 SF | 1938 | - |
|
Kensington Gardens
1900 26th Ave, Oakland, CA 94601 |
Multifamily | 24,789 SF | 1928 | - |
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American Liberty Investments
181 Units Plus City Block of Garages
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