2246 23Rd Ave, Oakland, CA 94606
- $1,300,000
Listed by Joseph Owens, (925) 808-9098 from Marcus & Millichap
(If provided) CoList: from
- List Price
- $1,300,000
- MLS#
- EB41144736
- Status
- ACTIVE
- Lot Size
- 2,840
- Listing Area
- Oakland Zip Code 94601
- Year Built
- 1926
Property Description
Fully occupied seven-unit multifamily asset in Oakland's Highland Terrace neighborhood. $1,300,000 ($185,714/unit, $275/SF). 5.46% current cap rate vs. 7.41% at market rents, with 20.4% rental upside and 35.6% NOI growth potential with no capital spend. Recent capital improvements include upgraded plumbing, electrical, windows, and roof. Located under 1 mile from Highland Hospital and roughly 1.6 miles from Fruitvale BART, with direct access to I-880. In-place NOI: $70,803. Market NOI: $96,095. The 2 live/work style units are not permitted.
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Additional Information
- Acres
- 0.07
- Amenities
- None
- Cooling System
- Other
- Days On Market
- Unknown
- Exterior Features
- Stucco
- Floor Covering
- Vinyl
- Garage Parking
- No Parking
- Lot Size
- 2,840
- Neighborhood
- Oakland Zip Code 94601
- Numberof Units
- 7
- Unincorporated Yn
- Yes
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