Properties

Comm Ri Multi-units 5+ For Sale

6,375 Sqft - 3571 66th Avenue, OAKLAND, California 94605

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Property Description

Well maintained 9 unit building in the rapidly gentrifying and appreciating Millsmont neighborhood of Oakland.  Perched in a residential hillside area near Mills College on the East side of MacArthur Blvd., this property offers stability and upside for the next owner.  The owner recently completed seismic retrofit with permits, new roof, new exterior paint, remodeled 3 of 9 units. The remodeled units appeal to a modern occupant with updated flooring, new counters, SS appliances, and bright white bathrooms.  These updates along with city views (upper units), covered parking for every unit and close proximity to public transportation command top dollar in the market place. The units are separately metered for utilities keeping expenses manageable for the owner.  High 7% cash on cash returns on day 1. With 43% upside in rents, this building allows next owner to increase returns and leverage investment in the hot Oakland market. Last showing on 6/05 12-1 PM. Offers due on 06/07 by 1 PM.

Basic Details
Property Type : Comm Ri Multi-units 5+
Listing Type : For Sale
Listing ID : 40822810
Price : $1,695,000
Bedrooms : 0
Bathrooms : 0
Half Bathrooms : 0
Square Footage : 6,375 Sqft
Year Built : 1961
Lot Area : 0.22 Sqft
Features
Heating System : Gas, Wall Furnace
Roof : Other, Rolled Composition
Address Map
Country : US
State : CA
County : Alameda
City : OAKLAND
Zipcode : 94605
Street : 66th Avenue
Street Number : 3571
Floor Number : 0
Longitude : W123° 49' 28''
Latitude : N37° 46' 28.1''
MLS Addon
Office Name : ANTHONY ASSOCIATES
Building Type : Apt Complex
Area : Oakland Zip Code 94605
Address : 3571 66th Avenue
Cross Street : Outlook Avenue
Directions to Property : Hwy 580 to Outlook Ave.
LA1User Code : R01867911
LA1Agent First Name : ANDREW
LA1Agent Last Name : PITARRE
Status Category : Sold
Tot # Parking Spaces : 9
Tot # of Units : 9
Zoning : RM-3
List $/SqFt : $266
Age : 57
Apx Lot Sq Ft : 9,148 Sqft
Type of Building : Apt Complex
Annual Taxes : $26,166
Total Deposits : $0
ADDTL FEATURES MISC. : Other
ALL UNITS HAVE : Refrigerator
DISABLED FEATURES : Other
EQUIPMENT ADDITIONAL : Other
EXTERIOR : Stucco, Wood Frame
FLOORING : Other
LOT DESCRIPTION : Regular
ON-SITE PARKING DESC : Covered Parking, Space Per Unit - 1
OPERATING EXPENSES : Electric, Gas, Insurance, Maintenance/repair, Other, Property Tax/assessments, Trash Removal, Utilities, Vacancy Factor, Water
SEPARATE METERS : Electric, Gas
SOME UNITS HAVE : Updated Baths, Updated Kitchen, Dishwasher
TENANT PAYS : Cable Tv, Electric, Gas
WATER/SEWER : Water - Public, Sewer System - Public
LAUNDRY : Coin Operated
Census Tract : 53000
Bus Sq Ft of Bldg : 0 Sqft
EXISTING LOAN : Other
Other Loans (Y/N) : No
1st Loan Balance : $4,500
2nd Loan Balance : $146,088
Tot Other Loans : $0
Financial Data Verif(Y/N) : 5.05%
FINANCIAL DATA SOURCE : Owner, Projected
Ann Act Gross Inc : $0
Gross Oper Actual Inc : $0
Listing Type : Seller Reserved
Listing Service : Full Service
Special Information : None
Original Price : $1,695,000
Sold Price : $1,720,000
Previous Price : $1,695,000
Sale $/SqFt : $0
Comm Ri Multi-units 5+ For Sale
  • Listing ID : 40822810
  • Bedrooms : 0
  • Bathrooms : 0
  • Square Footage : 6,375 Sqft
$1,695,000
Agent info
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