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Listed by Fred Rubio • Marcus & Millichap, DRE#01984041
$1,645,000
Est. payment /mo
4 Beds
3 Baths
5,242 SqFt
Open House
Thu Oct 01, 10:00am - 12:00pm
UPDATED:
Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 5,242 sqft
Price per Sqft $313
MLS Listing ID ML82062172
Bedrooms 4
Full Baths 3
Year Built 1922
Lot Size 0.253 Acres
Property Sub-Type Five or More Units
Property Description
6120 Foothill Boulevard offers an attractive opportunity to acquire a twelveunit apartment building in a highdemand East Oakland rental corridor. The property features a practical unit mix of eleven onebedroom units and one twobedroom unit, appealing to a broad range of workforce renters. With an inplace cap rate of 8.23% and current rents reflecting a meaningful losstolease, the asset provides a new owner with immediate cash flow and a clear path to additional income growth through stabilization. The property also includes an assumable loan with an approximate principal balance of $975,000 at 5.5%, offering buyers a valuable financing option in todays capital markets.
Location
State CA
County Alameda
Area Oakland Zip Code 94605
Zoning RU-5
Interior
Heating Other
Cooling None
Exterior
Parking Features Common Parking Area, On Street
Utilities Available Public Utilities
Roof Type Flat / Low Pitch
Building
Foundation Wood Frame
Sewer Sewer - Public
Water Public
Others
Restrictions None
Tax ID 038-3194-012-01
Security Features Other
Special Listing Condition Not Applicable
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