Description
Fourplex in Oakland - 6.47% cap rate 1718 6th Avenue is a clean four-unit asset in the Clinton neighborhood offered at $795,000, with a pro forma cap rate of 7.83% at market rents. The building totals 2,428 square feet on a 0.09-acre lot and features a uniform mix of four 1BD/1BA apartments, keeping operations simple and occupancy steady. Ownership expenses are minimal. The owner is responsible only for trash, water, and sewer. All four units have separate gas and electric meters with no house meters on the building, meaning all tenant utilities are individually paid. The property sits within walking distance of Lake Merritt, Grand Avenue, and Lakeshore, with quick access to Kaiser Permanente, PG&E headquarters, Jack London Square, and Downtown Oakland. Nearby BART and freeway access to I-580 and I-880 provide straightforward commutes to San Francisco, Berkeley, and Silicon Valley. The vacant unit offers an immediate opportunity to renovate and lease at market rents, generating income growth from day one while the occupied units provide stability. The consistent unit mix and low expense structure make this equally suited to a seasoned investor or an owner-user looking to offset carrying costs with rental income.
Details
| MLS # | ML82049153 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1955 |
| Days On Site | 91 |
| Listing Provided By | Compass | Tony Zizzo |
Features
| SQ Feet | 2,428 |
|---|---|
| Story(s) | 2 |
| Building(s) | 1 |
| Zoning | Residential Multifamily |
| Acreage | 0.09 |
Interior
| Heating | Wall Furnace |
|---|---|
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
Exterior
| Roof | Flat, Tar Gravel |
|---|---|
| Foundation Details | Concrete Perimeter |
| Lot Features | Paved |
Parking
| Parking Features | Uncovered |
|---|---|
| Garage Yes / No | No |
Utilities
| Sewer | Public Sewer |
|---|
Taxes
| Property | 9520 |
|---|
Area Information
| State | CA |
|---|---|
| County | Alameda |
| City | Oakland |
| Zip Code | 94606 |
| Area | 699 Not Defined |
| Listing VS Median (in 94606) | |
Price: $745,000 low | high Med: $1,072,500 sqft: 2,428 low | high Med: 6,549 $ / sqft: $307 low | high Med: $190 On site: 91 low | high Med: 189 | |
Market Activity 94606
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Learn More About This Property
| State | CA |
|---|---|
| County | Alameda |
| City | Oakland |
| Zip Code | 94606 |
| Area | 699 Not Defined |
| Listing VS Median (in 94606) | |
Price: $745,000 low | high Med: $1,072,500 sqft: 2,428 low | high Med: 6,549 $ / sqft: $307 low | high Med: $190 On site: 91 low | high Med: 189 | |