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…)

Filed under Apartment Building Listings, Investing in Multi-Family, Preview properties, Uncategorized · Tagged with , , ,

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Curious to know more about the T-Note and 60-year rate cycle? Do you want to make more educated real estate investments? Recently, I’ve been privileged to read the Realty Almanac put out by Realty Publications and First Tuesdays. Who is First Tuesdays and why the cryptic name? They are a California real estate trend resource providing news and data analysis since 1979. First Tuesdays is a holdover term referencing the foreclosure dates and times in Texas. You can read about First Tuesdays here.
The Realty Almanac is a data-driven analysis of the California real estate market. While the nearly 400 pages of forecasting had on occasion put me to sleep, I ultimately dug through it all. I discovered a surprising trove of invaluable information specific to investors like myself who focus on cash flow and the spread between cap rates and interest rates. This report should be extremely helpful in making decisions about buying and selling in today’s Bay Area real estate market.
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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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We just listed this 5-unit apartment building in San Leandro and the first showing was great. We had about a dozen prospects come to look at the property which consists of four townhouse style 2 bedroom units and one 1 bedroom unit.

San Leandro 5-unit building for sale

San Leandro 5-unit building for sale


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Filed under Preview properties, Uncategorized · Tagged with , , , , ,

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