Fourplex in Oakland - 6.47% cap rate 1718 6th Avenue is a clean four-unit asset in the Clinton neighborhood offered at $795,000, with a pro forma cap rate of 7.83% at market rents. The building totals 2,428 square feet on a 0.09-acre lot and features a uniform mix of four… Read More 1BD/1BA apartments, keeping operations simple and occupancy steady. Ownership expenses are minimal. The owner is responsible only for trash, water, and sewer. All four units have separate gas and electric meters with no house meters on the building, meaning all tenant utilities are individually paid. The property sits within walking distance of Lake Merritt, Grand Avenue, and Lakeshore, with quick access to Kaiser Permanente, PG&E headquarters, Jack London Square, and Downtown Oakland. Nearby BART and freeway access to I-580 and I-880 provide straightforward commutes to San Francisco, Berkeley, and Silicon Valley. The vacant unit offers an immediate opportunity to renovate and lease at market rents, generating income growth from day one while the occupied units provide stability. The consistent unit mix and low expense structure make this equally suited to a seasoned investor or an owner-user looking to offset carrying costs with rental income. Read Less
Courtesy of Compass, Tony Zizzo 650-770-8356
Listing Snapshot
Days Online
1
Last Updated
Property Type
Fourplex
Square Ft.
2,428
Lot Size
0.09 Acres
Year Built
1955
MLS Number
ML82049153
30 Days Snapshot Of 94606
$950k
0%
(avg) sold price
0
-100%
homes sold
62
0%
(avg) days on market
Snapshot
Area Map
Additional Details
Lot
Max Area: 3750.00, Max Area Units: Square Feet
Unit One
1 bedroom in unit 1, Unit 1 rent: $1,500
Unit Two
1 bedroom in unit 2, Unit 2 rent: $1,900
Unit Three
1 bedroom in unit 3, Unit 3 rent: $1,622
Unit Four
1 bedroom in unit 4, Unit 4 rent: $1,648
Accessibility Features
Other
Amenities
Other
Building
Built in 1955, 4 building units, 1 building, 2,428 structure square feet
Roof
Flat / Low Pitch, Tar and Gravel
Utilities
Individual Electric Meters, Individual Gas Meters
Sewer
Sewer - Public
Security Features
Other
Heating
Wall Furnace
Cooling
Other
Floors
Carpet, Tile
Foundation
Concrete Perimeter, Crawl Space
Kitchen
Oven Range - Gas
Water Features
Private / Mutual
Parking
2 parking spaces
Miscellaneous
Vacancy factor: 3
Tenant Pays
Utilities - Electric, Utilities - Gas
Property
Other
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