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Additional details
Listed by Joey Wang, DRE #01890931 • Keller Williams Realty
$895,000
Est. payment /mo
10 Beds
4 Baths
2,916 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,916 sqft
Price per Sqft $306
MLS Listing ID EB41137423
Bedrooms 10
Year Built 1943
Lot Size 4,000 Sqft
Property Sub-Type Fourplex
Source Bridge MLS
Property Description
Situated along the 75th Avenue corridor less than a mile from Coliseum BART, 978 75th Avenue is a fully occupied East Oakland fourplex offering immediate, stabilized income in an established rental neighborhood. The two-story building spans approximately 2,916 square feet across two 3BD/1BA and two 2BD/1BA units, each with a private entry, assigned parking, and updated kitchen with quartz countertops and shaker cabinetry. Three of four units operate under active HACA HAP contracts, with annualized gross income of $117,660 and a proforma NOI of $76,073. Separate utility meters for all four units keep the expense ratio at a lean 30.5% - tenants pay their own gas and electric. At $895,000 - $307/SF and $223,750 per unit - this is a rare chance to acquire a cash-flowing, HAP-contract fourplex in East Oakland at an 8.5% current cap rate, with current rents approximately 8% below market and a clear path to 9.5% at turnover.
Location
State CA
County Alameda
Area Oakland Zip Code 94621
Zoning CIX-
Interior
Heating Gas, Wall Furnace
Cooling Air Conditioning - None
Flooring Tile, Vinyl
Laundry Laundry Area - In Unit
Exterior
Exterior Feature Stucco, Wood Frame
Garage Spaces 4.0
Building
Lot Description Grade - Level
Others
Tax ID 41-4157-1-5
Special Listing Condition New, Not Applicable
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