2300 Fruitvale Ave, Oakland, CA 94601
- $1,800,000
Listed by Scott Piper, (925) 989-1300 from EXP Realty of California, Inc
(If provided) CoList: from
- List Price
- $1,800,000
- MLS#
- BE41146742
- Status
- ACTIVE
- Lot Size
- 6,800
- Listing Area
- Oakland Zip Code 94601
- Year Built
- 1928
Property Description
Eight-unit multifamily asset, two buildings on a 6,800 SF corner lot in Oakland, offered at $1.8M. Executable pro forma cap rate of 9.2% at full stabilization. Two of the eight units are finished to a standard this submarket does not typically produce: large-format slate tile, ductless mini-split climate control, in-unit LG washer/dryer, quartz and marble kitchens with Samsung appliances and wine refrigerator, and bathrooms built to a boutique-hotel spec; floor-to-ceiling wood-grain tile, frameless glass showers, floating black vanities, black fixtures throughout. Mature Italian cypress and custom iron fencing frame the corner exterior; keyfob-secured gates front and rear, enclosed parking, and a built-in package drop complete a presence uncommon for the asset class. The remaining six units carry a documented path to increased rents: $75,000 refurbishment investment per unit, ($450,000 total), converting current monthly rent of $12,999.88 to a market monthly rent of $21,510 with all units upgraded. Each completed "proof" unit has produced a 19-23% coupon return on invested capital - the work is not projected, it is documented and replicated. (See Offering Memorandum for more detail) 2300 Fruitvale is Building 1 of the 6 building Excedente Portfolio, that is dramatically outper
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Additional Information
- Acres
- 0.16
- Amenities
- None
- Exterior Features
- Stucco
- Floor Covering
- Tile
- Garage Parking
- Assigned Spaces, Parking Area
- Laundry Facilities
- Laundry Area - In Unit, Washer, Dryer
- Lot Description
- Grade - Level
- Lot Size
- 6,800
- Neighborhood
- Oakland Zip Code 94601
- Numberof Units
- 8
- Unincorporated Yn
- Yes
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