978 75Th Ave, Oakland, CA 94621
- Beds
- 10
- Sqft
- 2,916
View property features, location on map, relevant school information and overview from seller's agent.
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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.
Location
Full feature list
Basic info
- Property type
- Multi-family
- Number of bedrooms
- 10
- Square feet
- 2,916
- Lot size (acres)
- 0.09
- Year built
- 1943
Interior features
- Laundry
- In Unit
Exterior features
- Water view
- Yes
Utilities
- Heating
- Wall Furnace, Natural Gas
- Sewer
- Public Sewer
- Water
- Public Water
Public schools
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Sourced from: Bay East Association of REALTORS MLS®#: 41137423 Last checked: …
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