5
See all 5 photos
$1,300,000
Est. payment /mo
2,840 Sqft Lot
New
2246 23Rd Ave Oakland, CA 94606
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision Highland Terrace
MLS Listing ID 41144736
HOA Y/N No
Year Built 1926
Annual Tax Amount $19,927
Lot Size 2,840 Sqft
Property Description
Fully occupied seven-unit multifamily asset in Oakland's Highland Terrace neighborhood. $1,300,000 ($185,714/unit, $275/SF). 5.46% current cap rate vs. 7.41% at market rents, with 20.4% rental upside and 35.6% NOI growth potential with no capital spend. Recent capital improvements include upgraded plumbing, electrical, windows, and roof. Located under 1 mile from Highland Hospital and roughly 1.6 miles from Fruitvale BART, with direct access to I-880. In-place NOI: $70,803. Market NOI: $96,095. The 2 live/work style units are not permitted.
Location
State CA
County Alameda
Interior
Heating See Remarks
Cooling See Remarks
Fireplace No
Building
Lot Description Corner Lot
Others
Tax ID 267571
Listed by Joseph Owens Marcus & Millichap #01707768
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