DESPERATE/MUST SELL - MOTIVATED SELLER This building is 53,000 square feet and sits on a 91,000-square-foot lot. This very nostalgic three-story property is located at 6638-6646 MacArthur Boulevard in Oakland, California. The 81-unit apartment complex near Mills College is on two separate parcels and features 55 one-bedroom apartments, 23 two-bedroom apartments, two three-bedroom apartments, and one four-bedroom apartment unit. There are approximately 126 parking spaces, a manager’s office, three laundry rooms, an automatic security gate, and surveillance cameras. The apartments have a master water meter and individual gas and electric meters. The construction of the building is stucco over wood. There remains 34% upside in the existing rents for new ownership to take advantage of. Most of the apartments have been remodeled in the last four years. The property was built in 1958 and 1966 in a contemporary style. The parking lot has been recently resurfaced, and all of the windows have been replaced. All buildings have a brand-new GAF roof with a lifetime warranty against any roof leaks or repairs. With 34% rent upside, this building allows the next owner to increase returns and leverage investment in the hot Oakland market. The subject has a total of four multi-story apartment buildings. The buildings are wood-frame constructions and are located on a concrete slab foundation. 6638 MacArthur contains 28 units, 6640 MacArthur contains eight units, 6644 MacArthur contains eight, and 6646 MacArthur has 37 units. Each building has a stucco exterior with a new tar and gravel roof. The subject has a great unit mix with 55 one-bedroom/ one-bathroom units, 18 two-bedroom/ one-bathroom units, four two-bedroom/ two-bathroom units, two three-bedroom/ two-bathroom units, one four-bedroom/ two-bathroom unit, and one one-bedroom/ 1.5-bathroom unit. The subject has approximately 53,000 square feet of gross building area, resulting in an average unit size of approximately 654 square feet. The subject also has three laundry rooms with coin-operated washing machines and dryers, generating substantial monthly income. Most units have either carpet, tile, or wood floors, incandescent and fluorescent lighting, and individual wall heaters within each apartment unit. The subject’s kitchens are equipped with electric ranges and refrigerators. The kitchens also have tile countertops or granite countertops and wood cabinetry. The sinks have garbage disposals installed in each one. The subject’s bathrooms have a sink, toilet, and a combination shower/bath. The bathrooms have tile flooring and tile wainscoting. The subject buildings were constructed in 1958 and 1966 and have been maintained and are in excellent condition.