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Listed by Jatin Mehta, DRE #02045713 • Kite Hill Real Estate
$ 850,000
Est. payment | /mo
5 Beds
4 Baths
3,856 SqFt
$ 850,000
Est. payment | /mo
5 Beds
4 Baths
3,856 SqFt
Key Details
Property Type Multi-Family, Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 3,856 sqft
Price per Sqft $220
MLS Listing ID EB41144574
Bedrooms 5
Year Built 1963
Lot Size 7,500 Sqft
Property Sub-Type Five or More Units
Source Bridge MLS
Property Description
To access the marketing package copy/paste: https://bit.ly/kitehillre Introducing 9833 Walnut Street, a high-yield multifamily investment offering exceptional in-place cash flow with substantial value-add potential. Built in 1963, the property features an outstanding unit mix of (3) one-bedroom/one-bath units, (2) two-bedroom/one-bath units, and (1) three-bedroom/two-bath unit-a diverse mix that appeals to a broad tenant base and supports long-term occupancy. The asset generates nearly $105,000 in annual gross income and is offered at just over an 8.0 GRM, over a 7.0% cap rate, approximately $220 per square foot, and $170,000 per unit. With strong in-place cash flow and a projected 30% upside in rental income translating to approximately 50% upside in NOI, investors have a rare opportunity to acquire an asset that performs on day one while offering significant future growth. Recent capital improvements include a completed earthquake retrofit and a new perimeter fence, reducing future capital expenditure concerns. Additional amenities include covered parking and on-site coin-operated laundry, creating added convenience for tenants and supplemental income for ownership. Well priced relative to today's market fundamentals, 9833 Walnut Street is an ideal acquisition for investors
Location
State CA
County Alameda
Area Oakland Zip Code 94603
Interior
Heating Gas
Cooling None
Flooring Wood
Laundry Laundry Facility - Coin-Op
Exterior
Exterior Feature Stucco
Parking Features Tandem Parking
Garage Spaces 4.0
Building
Lot Description Regular
Others
Special Listing Condition New, Not Applicable
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