Description
Excellent income generating 8 units in the heart of Cleveland Heights and Ivy Hill - A few blocks from Lake Merritt, Oakland's main commercial corridor. The building includes storage, garage, and laundry income with a 6.08% cap rate, 11.2 GRM. The four-story building is consisted of one 2 bed 1 bath, three 1 bed 1 bath, and four studio units. This property generates great cash flow from day 1 while also having great upside potential to build two (2) additional ADU units in the back of the lot. There is also potential upside to raising tenants' rents for stronger cashflows. This is a unique opportunity to purchase a large well-maintained, low-expense building with strong upside potentials in a highly desirable location.
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0BEDS
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N/AACRES
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0BATHS
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01/2 BATHS
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5,308SQFT
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$349$/SQFT
School Ratings & Info
Description
Excellent income generating 8 units in the heart of Cleveland Heights and Ivy Hill - A few blocks from Lake Merritt, Oakland's main commercial corridor. The building includes storage, garage, and laundry income with a 6.08% cap rate, 11.2 GRM. The four-story building is consisted of one 2 bed 1 bath, three 1 bed 1 bath, and four studio units. This property generates great cash flow from day 1 while also having great upside potential to build two (2) additional ADU units in the back of the lot. There is also potential upside to raising tenants' rents for stronger cashflows. This is a unique opportunity to purchase a large well-maintained, low-expense building with strong upside potentials in a highly desirable location.
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