3227 Prentiss Street, Oakland, CA 94601
This attractive 6-unit building is located in the popular Fruitvale District of Oakland. Each unit is 2 bedrooms, 1 bath with over 800 square feet. The apartments are spacious and well- designed with most having been upgraded. Floors are carpet and vinyl and the building is freshly painted.
The apartments are conveniently located 1 block off of Fruitvale Avenue and close to 580 and 880. Public transportation and shopping are within walking distance. Schools, parks and entertainment facilities are also within walking distance from the property.
The neighborhood predominantly consists of single-family dwellings. The Fruitvale District is going through a rebirth. This is an excellent opportunity to be part of a growing, vibrant area.
- Upside in Rents
- Spacious 2 Bedroom Units
- Upgraded Units
- Great Fruitvale Location
Price/Sq Ft: $138.05
Cap Rate: 8.32%
Cash on Cash: 13.5%
Price/Sq Ft: $138.05
Cap Rate: 6.91%
Cash on Cash: 9.4%
Assessor’s parcel #:027-0843-002-01
Number of buildings:1
Gross square footage:4962 sq. ft.
Lot size:8200 sq. ft.
Utilities paid by owner:Cold and hot water,
Utilities paid by tenants:garbage, common lights
Balconies & patios:2
|Income & Expenses|
|Current rent with estimated expenses||Market rent with estimated expenses|
|Scheduled Gross Income (SGI) $79,200||Scheduled Gross Income (SGI) $90,000|
|Less 5 % Vacancy Factor ($3,960)||Less 5 % Vacancy Factor ($4,500)|
|Effective Gross Income (EGI) 75,240||Effective Gross Income (EGI) 85,500|
|Less Operating Expenses||Less Operating Expenses|
|Property Taxes (inc. SA 1.4112 = 2574) ($12,241)estimated||Property Taxes (inc. SA 1.4112 = 2574) ($12,241) estimated|
|License and Rent Board ($1,599) actual||License and Rent Board ($1,599) actual|
|Insurance ($2,512) actual||Insurance ($2,512) actual|
|PG&E ($1,000) actual||PG&E ($1,000) actual|
|Water ($1,826) actual||Water ($1,826) actual|
|Garbage ($3,300) actual||Garbage ($3,300) actual|
|Maintenance ($3,960) 5% of SGI||Maintenance ($4,500) 5% of SGI|
|Miscellaneous ($1,500) $250/unit||Miscellaneous ($1,500) $250/unit|
|Total Operating Expenses ($27,938) 35.3% SGI, or $4,656/unit||Total Operating Expenses ($28,478) 31.6% SGI, or $4,746/unit|
|Net Operating Income (NOI) $47,302||Net Operating Income (NOI) $57,022|