apartment is sold

1450 13th Ave., Oakland, 94606.

Mixed use REO

1450 13th Avenue offers an investor significant upside potential by completing a largely finished rehab project.  The property has undergone significant updates to the foundation, electrical system, siding, rear stairs, windows, and 6 out of the 8 units.

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1450 13th Avenue offers an investor significant upside potential by completing a largely finished rehab project.  The property has undergone significant updates to the foundation, electrical system, siding, rear stairs, windows, and 6 out of the 8 units.  It was originally constructed in 1900 and renovated within the last 10 years.  The property sits on a rectangular shaped site, and is improved with a three story, wood frame, 7,266 net rentable square foot, mixed use building.  An ease of management property, it is located near the Historical Oakland Estuary, in between the Downtown and the Fruitvale Business Districts.  It offers quick access to the 880 Freeway, Alameda, Downtown Oakland, Lake Merritt, and San Francisco.  This 8 unit building consists of two commercial spaces and 6 apartment units.  The units are comprised of Four- 3 bedroom 2 bathroom units, One- 3 bedroom 1 bathroom unit, One- 1 bedroom 1 bathroom units, One- 1150 square foot ground floor commercial space unit with 2 bathrooms, and One top floor commercial space with a conditional live/work permit.  The commercial space can be subdivided into two separate spaces. The building also includes a 1,600 square foot garage (approx.), which can be used to for tenant parking or for a commercial storage space.
 

PROPERTY INFORMATION
APN: 
020-0142-001-00
Square Footage: 
7,266
Lot Size: 
5000.00
Year Built: 
1900

FINANCIAL SUMMARY
Price: 
$625,000
Down Payment: 
Loan Payment: 
N/A
Cash on Cash Estimate: 
N/A
Pro-Forma Cash Flow Est: 
N/A
Scheduled Cap Rate: 
10.92
Pro-Forma Cap Rate: 
11.52
Pro-Form GRM: 
5.30
Scheduled GRM: 
5.50
Price Per Unit: 
$78,125

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