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A doge is an elected chief of state lordship, the ruler of the Republic in many of the Italian city states during the medieval and renaissance periods, in the Italian "crowned republics".

The word is from a Venetian word that descends from the Latin dux (as do the English duke and the standard Italian duce and duca), meaning "leader", especially in a military context. The wife of a doge is styled a dogaressa. [1]

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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.

Filed under Apartment Building Listings, Investing in Multi-Family, Market Conditions, Uncategorized · Tagged with , , , , , ,

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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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Estabrook Apartments 5-Units

364 Estabrook Street, San Leandro, CA
NEW LISTING: 5-Unit Apartment Building
364 Estabrook Street, San Leandro, CA 94577

Estabrook Apartments are 100% occupied with long-term tenants. Four of the units are townhouse-style 2 bedroom, 1.5 bath. The fifth unit is a 1 bedroom 1 bath.

All units include carpet flooring throughout, with vinyl flooring in the kitchens & bathrooms. Unit amenities include gas wall heat, solid wood kitchen cabinetry, dishwashers, electric stoves, garbage disposals, ceiling fans and a deck off the upper level unit kitchen. The ground level units each have a small patio. (more…)

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Link Corkery has been tracking Bay Area job growth for over two decades. His findings have been the subject of many of his RHANAC (Rental Housing Association of Northern Alameda County) articles and analysis. We have found that by studying the trends in employment we can predict movement in the rental market.
Link predicted that rents would begin going up in 2005, and in November 2008 he accurately predicted that rents would peak that year. In November 2009 he stated that the East Bay rental market was currently going through the worst of the downturn and anticipated it would soon start a recovery. (more…)

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An investor recently asked:
How do I evaluate Capitalization Rate on an apartment building priced at $1.3m with gross rents of $84,000?
The Capitalization Rate of an apartment building is used to measure its value against other assets in a similar class. The Capitalization Rate is built on the Net Operating Income which must accurately reflect the fixed expenses of an investment property.

National Capitalization Rates

National Capitalization Rates


Gross rents use to be the standard way to measure the value of an apartment building. It was a simple formula, for example; a building priced at $1.3m with gross annual rents of $84,000, would have a GRM or Gross Rent Multiplier of 15.48. Simply use this formula:
$1,300,000 / $84,000 = 15.48 or PP / Gross rents = GRM (more…)

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I went to my apartment building in Oakland California today to see a unit which we were turning over and stumbled across a super savvy couple who are flipping houses. It turns out they are updating and flipping the house right next door to my apartment at 5300 Walnut St in Oakland.

Dan and Martha of Marlee Properties

Dan and Martha of Marlee Properties with Nick Myerhoff at 5300 Walnut Street in Oakland


(more…)

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Apartment building demand is rising around the U.S. despite the sluggish economy and worries over European debt.

Vacancy Rate by City

Vacancy Rate by City


Vacancy rates are contracting in every market including areas where there is soft job growth which is unusual. Job creation is the typical engine that drives demand for apartments but this time the increase in demand is due primarily to lack of supply.
Demographic trends and the slump in single-family housing are flooding the market with tenants. Demand for apartments is reaching levels seen only in the red hot days of 1999 and 2000.  Some leading market research firms are predicting that average asking rents will grow an average of 3.5% in 2011 in the U.S.
After New York with a vacancy rate of 2.8%, the tightest rental markets are Minneapolis, San Jose and Portland. All have a vacancy rate of under 4%.
Like I tell my clients every day, “now is a great time to buy apartments”. Rents are on the rise and vacancy rates are declining across the Bay Area. Don’t get priced out of the market waiting for a drop in prices.

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Last week I toured a 19 unit apartment complex in Castro Valley California with a friend and buyer named Mark. We brought along Karen Bergendahl from CWP Property Managment in San Leandro to help us evaluate the property and determine upside potential. Karen is one of the few real professionals in the apartment business who actually adds value.

Karen Bergendahl CWP Property Management

Karen Bergendahl CWP Property Management

I have worked with Karen now on two multi-family projects. She has gone well above the call of duty and met with me and my prospects on numerous occasions to help us review income and expense on various properties. It’s very difficult to find an outstanding proeprty manager. Most owners complain about their off-site managers and feel they don’t adequately protects them from spiraling expenses. Karen is the opposite. She will actually spend time with clients and prospects even before they have signed a contract to work with her company. (more…)

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