Christopher Danesi at RE/MAX Accord
East Bay Condo ManiaMLS: 41029482 $1,750,000 Beds / Baths
MLS #: 41029482 Status: PENDING List Price: $1,750,000 Price SQFT: $245 City: OAKLAND
Beds: Baths: SqFt: 7130 Year: 1915 Zip: 94608
Listing Remarks
8-unit apartment complex offering four 3bd/1bth units, three 2bd/1bth units, and one 1b/1bth unit with six Section 8 tenants delivering strong current cash flow and excellent rental upside. www.3215filbert.com Current cap rate: 8.90%, current GRM: 8.37. The property was built in 1915, offers approximately 7,130 square feet of rental space, and sits on a 5,000 square foot lot. All the units have been updated over time with newer kitchens and bathrooms, new double pane windows, new paint, coin-operated laundry, in-unit water heaters, and updated electrical and plumbing systems. Maintenance is low and the property is separately metered for water and PG&E providing for low annual operating expenses. Several units are below market in rent, offering the next investor the opportunity to raise rents over time and achieve greater cash flow. The exterior and interior are in great condition with no deferred maintenance resulting in a rare turn-key investment with solid upside. The current loan of approximately $1,150,000 can be assumed at 4.25% until late 2026.
Address: 3215 FILBERT ST OAKLAND CA 94608
Listing Courtesy of DAVID HOWARTH of THE PINZA GROUP, INC
Listing Photos
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Last Updated: 2024-05-06