3128-3142 Fruitvale ave - Multi-Family FOR SALE


Oakland, CA 94602- Lower Hills District | 
$3,525,000 USD
916-698-9954
3128-3142 Fruitvale ave, Oakland, CA for Sale
$3,525,000 USD
Multi-Family - FOR SALE
1/29
null | 6.02% Cap Rate

3128-3142 Fruitvale ave
Oakland, CA 94602
Lower Hills District


HIGHLIGHTS

  • Huge Upside
  • Extensively Renovated
  • Major systems upgraded
  • On-site parking
  • Fully leased

OVERVIEW

Renovated with huge upside: ownership has invested $492,707 in improvements since 2018, yet eight of the 14 apartments still rent below $1,300 a month, leaving 53% upside to market. The work includes six gut-remodeled units, new copper plumbing and a heat pump water heater, a sewer lateral, main electrical panels, a roof and a new parking lot. The property is Soft Story and SB 721 compliant. Offered at $3,525,000, a 6.02% current cap and 10.13 GRM, growing to a 10.36% cap and 6.69 GRM at market rents. This 18-unit mixed-use property in Oakland's Dimond District offers 14 apartments and 4 commercial storefronts across three buildings on a 20,000 SF lot with 14 surface parking spaces. The unit mix is seven 1BR/1BA units, seven 2BR/1BA units and four commercial suites. Just 0.2 miles to Farmer Joe's with easy access to I-580 and Fruitvale BART.

FOR SALE DETAILS

PRICE

$3,525,000 USD

PRICE/SF

$237 USD /SF

# OF UNITS

18

PRICE/UNIT

$195,833

CAP RATE

6.02%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

ADD'L SUBTYPES

Storefront Retail/Residential, Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,000 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Willem BosCompass CommercialMore Info
916-698-9954

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Willem BosCompass CommercialMore Info
916-698-9954

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