The next California Gold Rush?
Let’s talk about Accessory Dwelling Units (ADUs). Are they right for you?
You know them as carriage houses, granny flats, mother-in-law suites, or duplexes. The official real estate term for these types of living arrangements is actually Accessory Dwelling Units (ADUs) or Junior Accessory Dwelling Unit (JADUs). The idea is to carve out a piece of a property that creates a secondary dwelling. Typically, it will have its own living area, kitchen, bathroom, and entrance that utilizes the water, electric and heat from the primary unit.

Although this concept has been around for ages, ADUs have recently become more popular as one way to combat the affordable housing crisis in California. And now, the ADU trend promises to become a full-fledged tidal wave thanks to several bills Governor Gavin Newsome recently signed into law. Taking effect on January 1, 2020, this package of legislation is designed to help alleviate the housing shortage and capitalize on the benefits of ADUs, incentivizing their construction and revising older zoning laws. The new legislation permits homeowners, for example, to build small independent structures (usually less 1,000 square feet) on their properties with less red tape. (more…)

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The Kerwood Apartments

32-Unit Apartment Building

1627 High Street Oakland, CA 9 4 6 0 1 

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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.

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1550 Bridge Street, Oakland, CA 94601 – IN ESCROW

1550 Bridge Street

1550 Bridge Street

10% Cash on Cash Return Turn-key Remodeled Building! – Offered at $735,000

PROPERTY SUMMARY
The Bridge Street Apartments is a bread and butter, wood frame and stucco, seven unit apartment building. It has high-quality tenants and has been professionally managed. The current owner has spent over 100k in capital improvements over the past three years renovating each unit and painting the exterior. The subject property has garage parking for four cars, is very low maintenance and has some upside in rents. Bridge street is one of the quietest tree lined streets in Fruitvale and is walking distance to BART. This property is located on a corner lot. Additional capital improvements include new tile and flooring, new light fixtures, remodeled bathrooms, and much more!

Bridge Street Rent Roll

Unit      Type      Current Rents
1            2bd        $ 845.00
2           2bd         $ 1,100.00
3           2bd         $ 975.00
4           2bd         $ 975.00
5           2bd         $ 1,047.54
6           2bd         $ 1,099.92
7           1bd          $ 1,000.00
Garage 1             $ 150.00
Garage 2             $ 150.00
TOTAL               $ 7,342.46 (more…)

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Today I met with a local business man named Shaun. We met at Julie’s Coffee and Tea on Park St and discussed my multi-family investment strategy and how it might work for him.
He works for a REIT and helps his company acquire and manage data centers throughout the U.S. His money is sitting stagnant in an account earning almost nothing.
He immediately understood the merits of creating passive cash flow through owning multi-family real estate. He owns a vacation home in Arnold and is looking to continue buying property. (more…)

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A prospect e-mailed me today and said “”I want a good deal at a reasonable price”. I thought to myself isn’t this what everybody wants?
As a long time real estate buyer I know the exact frustration that ensues when a buyer is on a search and just cannot find anything good. This is most often the case. Here was my response: (more…)

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