Telegraph Corner
Sold For $1,575,000
Units 6
PROPERTY DESCRIPTION
Telegraph Corner is a fantastic six-unit, mixed-use property situated in the Pill Hill neighborhood of Oakland, California. This gorgeous Victorian gem consists of two studios, two 1-bedroom units, a massive full-floor 2-bedroom penthouse, and a ground-floor commercial unit. All of the residential units but the penthouse have been remodeled with granite countertops and new appliances, designer tile, newfixtures, and refinished hardwood or Pergo floors. Much of the interior has original period detailing, coved ceilings, and light-filled rooms. The stately Victorian structure sprawls across an oversized corner lot and is graced with original redwood siding shingles and a circular turret. There is gated parking for 5 cars as well as a private yard.
5% Cap Rate
Excellent Value at $284/sqft
Outstanding Pill Hill Location
New Kitchens and Baths
Gated Parking for 5 Cars
Walk to Bart
FEATURES & CONDITION
The subject property has been substantially renovated inside and out. Much of the original siding has been restored, new dual pane windows installed, new asphalt in the parking area, and security gating all around. The commercial tenant has a new Metro PCS store which has revitalized and anchored the corner storefront.
PROPERTY LOCATION
Located in the Pill Hill neighborhood of Oakland, California just 5 blocks from the new MacArthur BART transit village. Walking distance to Uptown, Fox, and Paramount theaters and numerous restaurants and bars. The location is first-rate and extremely desirable for tenants and high-income professionals working in San Francisco. This property is perfect for a first-time buyer, owner-operator, or an investor looking for cash flow.
PARTIAL CAPITAL IMPROVEMENT LIST
New kitchens and bathrooms and complete renovation of the interior of 4 of the 6 units. Most units have new double-pane windows and laminate or refinished hardwood floors. New plumbing, electric, and new tankless water heaters. New asphalt side yard and electric gated parking. New paint inside and new roof in 2015. Master key system and private landscaped yard.