PRIVATE TOURS AVAILABLE BY APPOINTMENT ONLY, COVID WAIVER TO BE SIGNED ON-SITE THE PROPERTY IS BEING OFFERED AT $5,400,000, WHICH REPRESENTS A 4.89% CAP RATE, 12.9 GRM ON IN-PLACE INCOME AND EXPENSES AND A 6.98% CAP RATE AND 10.1 GRM ON PROJECTED MARKET RENTS. The Bay Area Multifamily Team of Colliers International, as exclusive listing agent, is pleased to present 3761 Harrison Street, a 16-unit community located in Oakland, CA. The property is ideally located near the highly desirable Piedmont Avenue shopping district. With only a short five-minute walk to Piedmont Avenue, residents benefit from a range of choices from Michelin-starred restaurant Commis, to the historic Piedmont Theatre, to the casual Cato’s Ale House as well as a variety of other restaurants and shopping options. Additionally, the property is a short six-minute walk to Kaiser Permanente – Oakland’s largest employer with 12,510 employees and only 0.7 miles from Sutter Health Alta Bates Medical Center – Oakland’s second largest employer with 3,673 employees. In addition to the superb location, 3761 Harrison Street offers an ideal unit mix with (9) two-bedroom / two bath units, (1) two-bedroom / one and 1/2 bath unit, and (6) one-bedroom / one-bath units. As the property was constructed in 1988, it does not fall under the purview of the rent control ordinance in the city of Oakland. 3761 Harrison is ideal for investors seeking a stable property that also offers significant upside with mostly original interiors. FOUR LEASES SIGNED ON UNRENOVATED UNITS IN THE LAST MONTH WHILE SHELTER-IN-PLACE WAS IN EFFECT: • 2X2 leased for $2,150 (no parking) • 2X2 leased for $2,250 (including parking) • 1X1 leased for $1,900 (including parking) • 1X1 leased for $1,850 (including parking) EXEMPT FROM CITY OF OAKLAND RENT CONTROL ORDINANCE: • Given the property’s 1988 construction date, the asset does not fall under the purview of the rent control ordinance in the city of Oakland. 3 UNITS POTENTIALLY DELIVERED VACANT UPON CLOSING: • The property currently has three vacant units (2 two-bedroom / two-bath units and 1 two-bedroom / one and one-half bath unit) that could potentially be delivered vacant upon closing. RECENT 1988 CONSTRUCTION: • The property was constructed in 1988 and boasts a reinforced concrete foundation, dual-pane windows and central heating with forced air wall units. CORE PIEDMONT AVENUE LOCATION NEAR MAJOR EMPLOYERS AND UPSCALE SHOPPING DISTRICT: • Walk Score 86 (Very Walkable) • Five-Minute walk (0.3 miles) to Piedmont Avenue shopping district – one of the most desirable retail corridors in all of the East Bay. • Six-Minute walk (0.3 miles) to Kaiser Permanente Oakland Medical Center – Oakland’s largest employer with 12,510 employees that grew their employment by 6.61% in 2018. IDEAL UNIT MIX: (9) two-bedroom / two-bath units, (1) two-bedroom / one & one half-bath units and (6) one-bedroom / one-bath units SIXTEEN CONTROLLED-ACCESS, GARAGE PARKING SPACES