2246 23Rd AveOakland, CA 94606
HIGHLAND TERRACE · Alameda County
$1,300,000List price
4,715Sq Ft
1926Year built
0.07Acre lot
3 months agoOn market
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.
Property Information
- Property type
- Residential Income
- Sub-type
- Multi Family
- Year built
- 1926
- Living area
- 4,715 Sq Ft
- Lot size
- 0.07 acres
- Days on market
- 90
- MLS® Listing#
- 41144736
Property Features
- Cooling
- Other
- Heating
- Other
- Flooring
- Vinyl
- Basement
- Other
- Lot features
- Corner Lot
- Construction
- Stucco
- Sewer
- Public Sewer
- Water source
- Public
Financial Details
- HOA
- None
- Parcel number
- 267571
Listing Courtesy: Marcus & Millichap - 5103791200
Presented by: Joseph Owens
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IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Listing information updated daily.
IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Listing information updated daily.
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