9326 Bancroft Ave
Oakland, CA 94603
0.09 acres | #41068198
Description
www.9326Bancroft.com; 7-unit apartment complex offering six 1bd/1bth units and one 2bd/1bth unit with excellent current cash flow. The current cap rate is 10.32% and the current GRM is 7.25! The property was originally built in 1966, offers approximately 4,432 square feet of rental space, with six garages that will be delivered vacant that can be rented for additional income or possible new ADUs. Five units are currently rented to Section 8 tenants and one tenant is rented to Abode providing for maximum stability and control. The 2bd/1bth unit will be delivered vacant and is perfect for an owner-occupant or rented before closing. All of the units have been extensively remodeled and offer new kitchens, bathrooms, upgraded electrical and plumbing, new flooring, double pane windows, new exterior and interior paint, a newer roof, and more. The property is easy to manage and is separately metered for PG&E providing for low annual operating expenses. This is an Oakland location near HWY 580, Bishop O'Dowd High School, Mills College, Sequoyah Country Club, and Lake Chabot Golf Course.
Property Details
- Property SubtypeResidentialIncome
- Date ClosedNovember 29, 2024
- Property TypeMulti-Family
- Original List Price$1,450,000
- MLS #41068198
- MLS #41068198
- CountyAlameda
- Cost1295000
- Acres0.0872
- Year Built1966
Location
Legal
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Listing Courtesy
Listing Agent: David Howarth (#BMLS-R01360348)
Listing Office: The Pinza Group, Inc (#BMLS-OBPINZA)
Listing Courtesy (Buyer)
Buyer's Agent: David Howarth (#BMLS-R01360348)
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