978 75Th Ave, Oakland, CA 94621
978 75Th Ave, Oakland, CA 94621
978 75Th Ave, Oakland, CA 94621
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$895,000
Est. payment /mo
3,998 Sqft Lot
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Subdivision Elmhurst

MLS Listing ID 41137423

HOA Y/N No

Year Built 1943

Lot Size 3,998 Sqft

Property Sub-Type Quadruplex

Property Description

Situated along the 75th Avenue corridor less than a mile from Coliseum BART, 978 75th Avenue is a fully occupied East Oakland fourplex offering immediate, stabilized income in an established rental neighborhood. The two-story building spans approximately 2,916 square feet across two 3BD/1BA and two 2BD/1BA units, each with a private entry, assigned parking, and updated kitchen with quartz countertops and shaker cabinetry. Three of four units operate under active HACA HAP contracts, with annualized gross income of $117,660 and a proforma NOI of $76,073. Separate utility meters for all four units keep the expense ratio at a lean 30.5% — tenants pay their own gas and electric. At $895,000 — $307/SF and $223,750 per unit — this is a rare chance to acquire a cash-flowing, HAP-contract fourplex in East Oakland at an 8.5% current cap rate, with current rents approximately 8% below market and a clear path to 9.5% at turnover.

Location

State CA

County Alameda

Zoning CIX-2

Interior

Heating Natural Gas, Wall Furnace

Flooring Tile, Vinyl

Fireplace No

Exterior

Total Parking Spaces 4

Building

Lot Description Corner Lot, Street Level

Others

Tax ID 41415715

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Listed by Joey Wang Keller Williams Realty #01890931

NEARBY SCHOOL & BUSINESS

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