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Lakeshore Grand Lake Apartments 539 Mandana Blvd 7 Unit Apartment Building $2,303,268 CAD ($329,038 CAD/Unit) 6.95% Cap Rate Oakland, CA 94610
INVESTMENT HIGHLIGHTS
- Excellent Unit Mix Featuring Seven Total Units Comprised of Two 2bd/1bth Units, Four 1bd/1bth Units, and One Studio Apartments
- Walking Distance Popular Restaurants, Cafes, Schools, Shopping Options, and Public Transportation
- Prime Lakeshore Grand Lake Oakland Location Less than Two Blocks to Lakeshore Ave;
- Remodeled Units with Low Annual Operating Expenses
EXECUTIVE SUMMARY
7-unit apartment complex with strong current income and excellent location one block to all the restaurants and shopping on Lakeshore Ave. The property features an attractive unit mix including two 2bd/1bth units, five 1bd/1bth units, and one studio unit. The property was originally built in 1950, offers 6,151 square feet of rental space, and sits on a 5,000 square foot lot with four vacant attached garage spaces and three off-street parking spaces. The units have been remodeled over time and offer updated kitchens and bathrooms, custom tile and lighting, hardwood floors, double pane windows, and more. The property is easy to manage and separately metered for electric, gas, and water, providing for low annual operating expenses. The seller recently spent approximately $300,000 to complete a full earthquake retrofit, upgrade the electrical, and install a new sewer lateral, to deliver a turnkey property for the next owner. This is a high demand rental location one block from Lakeshore Ave and all the popular restaurants, coffee shops, and shopping options. This location is surrounded by multi-million dollar homes and is impossible to beat if you're seeking high rents, little to no turn-over, and the best possible tenants.
****EMAIL DAVID@PINZAGROUP.COM FOR A COMPLETE MARKETING PACKAGE AND PRIVATE SHOWING.
****EMAIL DAVID@PINZAGROUP.COM FOR A COMPLETE MARKETING PACKAGE AND PRIVATE SHOWING.
PROPERTY FACTS
| Price | $2,303,268 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $329,038 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 6.95% | Building Size | 6,151 SF |
| Gross Rent Multiplier | 9.91 | Average Occupancy | 97% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1950 |
| Property Subtype | Apartment | Parking Ratio | 1.14/1,000 SF |
| Zoning | R-70, Oakland | ||
| Price | $2,303,268 CAD |
| Price Per Unit | $329,038 CAD |
| Sale Type | Investment |
| Cap Rate | 6.95% |
| Gross Rent Multiplier | 9.91 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 6,151 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1950 |
| Parking Ratio | 1.14/1,000 SF |
| Zoning | R-70, Oakland |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Smoke Free
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 5 | - | - |
| 2+1 | 2 | - | - |
1 1
Walk Score®
Walker's Paradise (98)
Bike Score®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 011-0837-032-00 | Improvements Assessment | $1,325,986 CAD |
| Land Assessment | $568,125 CAD | Total Assessment | $1,894,111 CAD |
PROPERTY TAXES
Parcel Number
011-0837-032-00
Land Assessment
$568,125 CAD
Improvements Assessment
$1,325,986 CAD
Total Assessment
$1,894,111 CAD
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Lakeshore Grand Lake Apartments | 539 Mandana Blvd
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