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251 Park View Ter 18 Unit Apartment Building $4,964,148 CAD ($275,786 CAD/Unit) 6.28% Cap Rate Oakland, CA 94610
INVESTMENT HIGHLIGHTS
- Impeccable Location: Situated on a tree-lined street within walking distance of Lake Merritt
- Spacious Units: Abundant space boasting large closets in bedrooms and living rooms
- Walking distance to 19th Street BART and Two blocks from Whole Foods
- Rare 40's Construction Deco Architecture
- Abundant Lighting: Natural light and views from most units
- Value-Add: Unique opportunity to reposition the asset via lease up at market rents
EXECUTIVE SUMMARY
NorCal is pleased to present 251 Park View Terrace, an exceptional, early 40's apartment building located just steps from Lake Merritt. This three story structure features classic Art Deco architecture, 18 spacious units, modern elevator, a secured entry and inviting lobby. The units boast original hardwood floors, abundant closet spaces and large windows providing impressive natural light, many with views of downtown Oakland & Lake Merritt. 1:1 garage parking, laundry area and large owner’s storage room.
Located on a beautiful tree-lined street, the property provides many lifestyle conveniences with close proximities to Lake Merritt, 19th Street BART, and Whole Foods Market. This investment gives an Owner the rare opportunity to lease-up high demand units at current market rents to reposition the asset and achieve outstanding returns.
Located on a beautiful tree-lined street, the property provides many lifestyle conveniences with close proximities to Lake Merritt, 19th Street BART, and Whole Foods Market. This investment gives an Owner the rare opportunity to lease-up high demand units at current market rents to reposition the asset and achieve outstanding returns.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $4,964,148 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $275,786 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 6.28% | Building Size | 15,081 SF |
| Gross Rent Multiplier | 8.44 | Average Occupancy | 50% |
| No. Units | 18 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1942 |
| Property Subtype | Apartment | Parking Ratio | 0.67/1,000 SF |
| Zoning | R60-S12, Oakland | ||
| Price | $4,964,148 CAD |
| Price Per Unit | $275,786 CAD |
| Sale Type | Investment |
| Cap Rate | 6.28% |
| Gross Rent Multiplier | 8.44 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 15,081 SF |
| Average Occupancy | 50% |
| No. Stories | 3 |
| Year Built | 1942 |
| Parking Ratio | 0.67/1,000 SF |
| Zoning | R60-S12, Oakland |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Range
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 3 | - | 500 - 550 |
| 1+1 | 15 | - | 750 - 850 |
1 1
Walk Score®
Walker's Paradise (94)
Transit Score®
Excellent Transit (71)
Bike Score®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Number | 010-0770-001-00 | Improvements Assessment | $3,398,501 CAD |
| Land Assessment | $1,078,889 CAD | Total Assessment | $4,477,389 CAD |
PROPERTY TAXES
Parcel Number
010-0770-001-00
Land Assessment
$1,078,889 CAD
Improvements Assessment
$3,398,501 CAD
Total Assessment
$4,477,389 CAD
CONTACTS
-
Grant Chappell -
Jonathan Burmenko -
Robert Chappell -
Sam Hayes -
NAI Northern California
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251 Park View Ter
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