Cash-Flowing Multifamily Investment 3142 Coolidge Ave 6 Apartment Units Online Auction Sale Oakland, CA 94602

Keller Williams is pleased to be retained as the exclusive broker for the 3142 Coolidge Avenue Apartments, located in the School area of Oakland, California. Built in two phases, first in 1904 and later in 1993, the property sits just off Interstate 580 and Fruitvale Avenue. It comprises two buildings: an older Craftsman duplex and a newer fourplex, both constructed with wood frames, wood siding, and a combination of vinyl and aluminum windows. Significant structural improvements were made to the older building in 2022. Together, the buildings offer approximately 5,997 square feet of livable space on a 9,240-square-foot lot.

The property contains six units: five three-bedroom, one-bath units of approximately 850 square feet each, and one five-bedroom, two-bath unit of roughly 1,547 square feet occupying the bottom two floors of the duplex. Kitchens in all units feature Formica countertops and laminate flooring, while living areas boast new plank flooring throughout both buildings. Bathrooms include bathtubs with tiled surrounds, showers, vanities, and laminate flooring. Heating for the duplex is provided by gas wall heaters, and the fourplex uses electric wall heaters. Each unit is separately metered for gas and electricity and contains its own hot water heater. All units are equipped with in-unit washers and dryers. On-site parking is assigned to each unit, and street parking is also readily available.

The 3142 Coolidge Avenue Apartments multifamily property presents investors with an opportunity to acquire a well-located property offering substantial upside. The property is exempt from Oakland’s rent control ordinance due to its certificate of occupancy from 1993, and offers a 14.53% upside in rents. The front building is ideal for owner-occupancy. Investors can benefit from a cash-on-cash return of 17.64% on day one and a total return of over 25.96%. The property can be purchased with little deferred maintenance and is currently at 100% occupancy.

Oakland is the largest and most established city in the East Bay. It encompasses 52 square miles and offers 19 miles of coastline to the west and beautiful rolling hills to the east. Along with its presence as a major West Coast port, Oakland boasts a well-diversified economy of traditional manufacturing, service, and trade industries enhanced by a strong and rapidly increasing high-technology presence.

Property tours are available by appointment only. Please contact the listing broker to schedule.