The Kerwood Apartments
32-Unit Apartment Building
1627 High Street Oakland, CA 9 4 6 0 1
The Kerwood Apartments is a very well located, professionally owned and operated, 32-unit apartment building comprised of 9 2-bedroom units, 21 1-bedroom units, and a pair of penthouse suites with 180 degree views. This distinctive 3 story building is a landmark of High Street.
Situated in the epicenter of a culturally thriving community and the newly established Mi Pueblo Food Center, The Kerwood is within 1 mile of the Fruitvale BART station and in close proximity to Mills College.
Laundry on each floor, a high quality oversized elevator and ample secure underground parking round out the highest quality apartment on High Street.
Price: $2,695,000 $2,695,000
Price/Unit: $84,219 $84,219
Price/SqFt: $98.44 $98.44
Cap Rate: 7.17% 8.29%
GRM: 7.56 6.76
Cash on Cash 10.85% 14.59%
> Upside in Rents
> Located 1 mi. from BART
> Secure Underground Parking
> Great Unit Mix
> Elevator from Garage to Penthouse
Number of Apartments: 33
Assessor’s Parcel Number: 35-2353-8
Year Built: 1965
Number of Buildings: 1
Gross square footage: 27,377 sqft.
Lot Size: 11,550 sqft.
Construction: Wood frame over,concrete pkng. garage
Util. paid by owner: Cold and hot water, common lights, common gas, garbage.
Util. paid by tenants: PG&E
Roof type and age: flat, rolled fiberglass
Floors: Carpets, tile and lino.
Covered parking spaces: 28 garage spaces plus 4 carports
Laundry facilities: One laundry room per floor, 1 w/d each
Intercom entry system: Yes
Gated parking garage: Yes
Individual storage lockers: Yes
INCOME & EXPENSE
current rents with
Rental Income (SGI) $356,304 $398,640
Laundry Income $6,000 $6,000
Parking Income $8,052 $12,000
Other Income $1,200 $1,200
less 5% Vac. ($18,578) ($20,892)
Effective Gross $352,978 $396,948
The Kerwood has the right balance of convenience, location and style. The lobby has a beamed ceiling and the building is encompassed by high quality iron gates providing tenants with a real sense of privacy and security. Underground parking consists of 28 spaces with 4 additional covered spaces outside.