335-345 Perkins St - Apartments FOR SALE


Oakland, CA 94610- Adams Point
$1,875,000 USD
415-806-5455
335-345 Perkins St, Oakland, CA for Sale
$1,875,000 USD
Apartments - FOR SALE
1/66
null | 6% Cap Rate

335-345 Perkins St
Oakland, CA 94610
Adams Point


HIGHLIGHTS

  • (6) detached, extensively updated Craftsman cottages
  • (2) long term tenants offer significant upside
  • Initial post-renovation rents $3250-3350

OVERVIEW

Truly unique (6 unit) pride of ownership property within 2 blocks of Grand Ave & Lake Merritt. Comprised of (6) completely detached single-story cottage units-(4) 2-bedrooms & (2) 1-bedroom (may be converted to 2s). Property was carefully renovated in 2016-17 to modernize every facet of the structures & systems, while preserving original craftsman charm&character. Improvements at that time included new sewer lateral,drainage,concrete driveway,repaved parking lot, foundations, retaining walls, plumbing & electrical systems, windows, doors, roofs, stucco, water heaters, furnaces, sub-water meters, appliances & more. Kitchens & baths thoroughly renovated in (5) of the (6) units. Hardwood floors & upgraded tile throughout, wood-burning fireplaces in most units, in-unit laundry in (4)of(6) units, ind. submeters for water, central heating, ample storage beneath each unit, low maint. landscaping & mgmt. With SF rents heating up, history shows Adams Point & Lake Merritt will benefit. Fully leased. Initial leaseups post renovation in 2017 were $3250-$3350. Ideal for 1031

FOR SALE DETAILS

PRICE

$1,875,000 USD

PRICE/SF

$500 USD /SF

# OF UNITS

6

PRICE/UNIT

$312,500

CAP RATE

6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1930

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,454 SF

ZONING

R-70, Oakland

APN/PARCEL ID

010-0774-015-00

ASK ABOUT THIS PROPERTY

Steven CraneMorley Fredericks Real Estate ServicesMore Info
415-806-5455

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Steven CraneMorley Fredericks Real Estate ServicesMore Info
415-806-5455

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.