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| 917 28th Street Oakland |
| 17 Unit Investment |
| Status |
Sold |
| Price |
$1,698,000 |
| Category |
Commercial |
| Number of Units |
17 |
| Style |
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| Year Built |
1900 |
| MLS |
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| Description |
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GREAT INVESTMENT OPPORTUNITY! Rent Detail: One-Studio-Rents for $570. Seven-One bedrooms-Average rent is $786. Three-Two bedrooms-Average rent is $1015. Six-Three bedrooms-Average rent is $1207. Actual Annual Gross Income is $196,380. Great upside potential in rents. Built in 1900. Great mix of studio, one, two and three bedroom units. New exterior paint job. 12 off-street parking spaces. Electronic security gate. Some updating in units. Some new exterior staircases. Common area yard. Very well maintained. |
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| Comments |
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| Property Information |
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Date Listed |
10/01/03 |
Date Sold |
06/22/04 |
Sale Price |
$1,625,000 |
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Investment Information |
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Price |
$1,698,000 |
Down Payment |
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Loan Amount |
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Current Cap Rate |
0.09 |
Market Cap Rate |
6.87 |
Current GRM |
8.65 |
Market GRM |
9.3 |
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Scheduled Gross Income |
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Rents |
$196,380 |
Reserve vacancy at |
$5,891 (3%) |
Laundry |
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Parking |
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Net Rental Income |
$190,489 |
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Operating Expenses |
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| Property Taxes |
$22,414 |
| Building Insurance |
$6,657 |
| Rent Registration |
$408 |
| Business License |
$1,572 |
| Gas & Electric |
$2,506 |
| Water & Garbage |
$4,078 |
| Total Operating Expenses |
$37,635 |
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Mortgage Calculator
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Exclusive Offering By |
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Tiffany Williams
510.883.7006 office
510.435.5831 cell
510.883.7076 fax
tiffany@elmwoodrealty.com
Click here to schedule a showing. |
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