3541 Dimond Ave - Apartments FOR SALE


Oakland, CA 94602- Lower Hills District
$1,625,000 USD
415-310-0487
3541 Dimond Ave, Oakland, CA for Sale
$1,625,000 USD
Apartments - FOR SALE
1/8
null | 6.83% Cap Rate

3541 Dimond Ave
Oakland, CA 94602
Lower Hills District


HIGHLIGHTS

  • COMPELLING BASIS WITH ±$125K IN RECENT CAP EX
  • DURABLE & THRIVING ECONOMIC HUB
  • AUTHENTIC WALKABLE NEIGHBORHOOD WITH REGIONAL CONNECTIVITY

OVERVIEW

Berkadia is pleased to present the opportunity to acquire 3541 Dimond Avenue, (the “Property'' or 3541 Dimond''), 13 well-maintained units that have undergone ±$125,000 of recent capital improvements and is located in a thriving and walkable Oakland neighborhood. Owned by the same family for more than forty-five years, 3541 Dimond is offered for sale at a ±6.85% in-place cap rate which equates to a compelling cost basis of $125,000 per unit, and has recently undergone an extensive roof repair and SB721 compliance certification. Cash flow upside can be realized through the capture of the Property's ±25% in-place loss-to-lease by marking units to market rent upon unit turnover. Investors have the opportunity to implement additional repositioning premiums of ±230 per unit through renovations, realizing a ±13% increase upon stabilization on potential rental income. Benefitting from its low basis and a preferred location, 3541 Dimond is a limited risk investment that combines these solid fundamentals with a strong initial yield and substantial upside.

FOR SALE DETAILS

PRICE

$1,625,000 USD

PRICE/SF

$210 USD /SF

# OF UNITS

13

PRICE/UNIT

$125,000

CAP RATE

6.83%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1959

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,500 SF

ZONING

RM-4

APN/PARCEL ID

029A-1301-014-00

ASK ABOUT THIS PROPERTY

Scott MacDonaldBerkadiaMore Info
415-310-0487

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Scott MacDonaldBerkadiaMore Info
415-310-0487

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