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Pleased to present 2565 Martin Luther King Jr Way, a 12 unit apartment building located in a thriving West Oakland. This property offers off-street parking and large spacious units. The property consists of (4) 2 bedroom / 1 bathroom units, (5) 1 bedroom / 1 bathroom units, (2) large studios, and (1) ground-floor retail space. This is an amazing opportunity to acquire an asset with a great in-place return AND significant upside potential.
Features
Property Type: Multi Family Home
Sub Type: Lowrise (1-3 Flrs)
Listing Status: Active
County/Area: Alameda County
Zip Code: 94612
Year Built: 1956
Age: 63
Sq.Ft.: 7,358 sq ft
Units: 12 units
# of Parking Spaces: 12
Lot Size: 8712 sq ft
Annual Gross Sched Inc: 190779
Annual License Exp: 2661
Annual Maint Exp: 6677
Annual Mgmt Exp: 7631
Annual Taxes: 31363
Annual Util Exp: 9600
Annual Vacancy: 5900
Apx Lot Sq Ft: 8830
Cooling: Ceiling Fan(S), Central 1 Zone A/C
Equipment Additional: Water Heater Gas
Exterior: Stucco
Flooring: Hardwood Floors
Gross Income: $196,680
Heating: Gas
Lot Description: 2 Houses/1 Lot
Net Oper Income: $121,378
On-Site Parking Desc: Carports - 2 Or More, Covered Parking
Other Ann Exp: 680
Roof: Composition Shingles
Tot Ann Oper Exp: 30249
Water/Sewer: Sewer System - Public
Courtesy of Joseph M. Tapia, Broker, Timothy Warren
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