Bought with David R. Valva • BHHS Drysdale Alameda
$900,000
$925,000
2.7%For more information regarding the value of a property, please contact us for a free consultation.
5,563 SqFt
SOLD DATE : 07/05/2024
Key Details
Sold Price $900,000
Property Type Commercial
Sub Type 5 or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 5,563 sqft
Price per Sqft $161
MLS Listing ID 41059511
Sold Date 07/05/24
HOA Y/N No
Originating Board Bridge AOR
Year Built 1912
Lot Size 4,000 Sqft
Property Description
1106 4th Ave is a 6-unit apartment building located in the highly sought after Merritt Oakland Location. The building consists of (5) spacious two bedroom, one bath units, (1) one bedroom, one bath units. There is one unit vacant allowing for new owner to rent at market. The property offers low overhead expenses with separate meters for gas & electric and water. Priced to sell at a 6.74% Cap Rate and 8.9 GRM. The property offers Day 1 cash flow and over 5.18% Total Return on Investment. The property provides great cash flow day 1 even with rents 41% below market. This provides investors room to grow rents to a pro forma cap rate of 11.30% or a 6.3 GRM. The thriving Oakland community experiences a growing demand for quality housing, positioning this property as a valuable assets in a market poised for expansion. Seize the moment at 1106 4th Ave and elevate your investment portfolio.
Location
State CA
County Alameda
Interior
Heating Other
Cooling Other
Flooring Vinyl, Carpet
Fireplace No
Window Features Double Pane Windows
Building
Lot Description Corner Lot
Water Public
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