368 Adams St - Apartments FOR SALE


Oakland, CA 94610- Adams Point
$1,295,000 USD
510-822-1331
368 Adams St, Oakland, CA for Sale
$1,295,000 USD
Apartments - FOR SALE
1/17
null | 5.54% Cap Rate

368 Adams St
Oakland, CA 94610
Adams Point


HIGHLIGHTS

  • 5-Unit Apartment Complex Offering Three Large 1BD/1BA Units and Two Studio Apartments in Popular Adams Point Neighborhood
  • Remodeled Units with Many Capital Improvements Including a New Roof, Fresh Exterior Paint, and Electrical Upgrades
  • Updated Kitchens and Bathrooms Featuring Granite Countertops, New Cabinets, Wood Floors, Custom Tile and More
  • Easy-to-Manage Property 100% Occupied, Providing Immediate Rental Income and Stable Day-One Cash Flow
  • High Demand Adams Point and Lake Merritt Location Near Grand Lake, Downtown Oakland, BART, Popular Restaurants, Coffee Shops, Shopping, and Local Scho

OVERVIEW

5-unit apartment complex located in Adams Point near many popular restaurants, shopping options, and outdoor activities. The unit mix offers three (3) 1bd/1bth units and two (2) studio units with strong current income and excellent rental upside. Currently, the property is 100% leased to stable tenants providing for an opportunity for the next owner to increase rents over time for increased cash flow. The property was originally built in 1925, offers approximately 3,250 square feet of rental space, and sits on a 6,250 square foot lot, with a nice backyard, and room for off-street parking. The units have been remodeled over time and offer newer kitchens, bathrooms, upgraded electrical and plumbing, new flooring, newer paint, and more. The property is easy to manage with very little maintenance providing low annual operating expenses. The exterior and interior are in great condition with no deferred maintenance resulting in an attractive turn-key investment for the next owner. This is a high demand Adams Point location near Lake Merritt, Grand Lake shopping, with easy access to downtown Oakland. The Adams Street area is one of the city’s most established and in-demand sub-markets and is always easy to rent. The neighborhood features a mix of historic and infill multifamily housing, walkable streets, and consistent tenant demand driven by proximity to Downtown Oakland and key employment centers. Residents benefit from nearby restaurants, cafés, and grocery stores. **** EMAIL DAVID@PINZAGROUP.COM FOR A COMPLETE MARKETING PACKAGE OR PRIVATE SHOWING.

FOR SALE DETAILS

PRICE

$1,295,000 USD

PRICE/SF

$342 USD /SF

# OF UNITS

5

PRICE/UNIT

$259,000

CAP RATE

5.54%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Turn-Key Adams Point Apartment Complex

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1925

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,428 SF

ZONING

R-70, Oakland

APN/PARCEL ID

010-0789-019-00

ASK ABOUT THIS PROPERTY

David HowarthPinza GroupMore Info
510-822-1331

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David HowarthPinza GroupMore Info
510-822-1331

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