978 75th Ave

Oakland CA 94621

2916 sq. ft.

4000 sq. ft.

Duplex

Currently for sale - view listing

Overview

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.

Features

2916 sq. ft. floor area

4000 sq. ft. lot size

Duplex

Property history for 978 75th Ave

2019

Sold

$701,000

14 Jan 2019 by Marla Kuresa, of Marla Kuresa, Broker

2018

Rented

Undisclosed

07 Dec 2018 by BETTER HOMES REALTY/MCARTHR

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