Multifamily
2328 Seminary Ave
2328 Seminary Ave, Oakland, CA 94605
Listing Price: $5,500,000
Investment Overview
2328 Seminary Ave is a 45-unit apartment building in Oakland, CA. The unit mix is 30-two bedroom/one bath and 15-one bedroom/1 bath units. Originally built in 1965, the structure is three stories and an estimated 35,814 sq. ft. The parcel is approximately 0.78 acres.
This multi-family complex is gated at the frontage of Seminary Avenue and offers 45 off street uncovered parking spaces. There is a secure main entry gate to the building leading to a courtyard. Tenants access the apartments via exterior walkways. There is one elevator and three stairwells serving the tenants residing on the upper floors. Every unit in the building has a patio or balcony. Two common area laundry rooms for occupants of the building. There is one water and gas meter. Each apartment has a designated meter which tenants are directly billed for their electricity for usage.
The apartment complex is located in the Seminary Avenue corridor, an east-west thoroughfare from San Leandro Street to I-580. There is an AC Transit bus stop within one block of the complex. The Oakland Coliseum BART station is 1.6 miles and the Fruitvale BART station is 2.4 miles from the subject property. Greenleaf Elementary school is a 15-minute walk, only 0.6 miles from property Just one half mile away from the building is the Rainbow Recreation Center. This community based resource center offers activities for all ages in the immediate neighborhood.
Just two blocks from the building is Seminary Point, a retail center anchored by Walgreens. Other retailers in the center are Bank of America, It’s a Grind Coffee, and World Wireless (Metro by T-Mobile). ShopRite Supermarket is a five-minute walk for the convenience of tenants.
As an investment property this building offers highly sought after two bedroom apartments. With current operations, the realized stabilized rents offer 22% upside. With some improvements to the units upon turnover and capital improvement an investor can achieve higher market rents than the current owner. There is an existing assumable note with a loan balance of $3,485,615 with an interest rate at 3.61%. This offering is an excellent opportunity for an investor with savvy property management skills to find an add-value apartment building with significant upside in rental income.
2328 Seminary Ave
Investment Highlights
- 2328 Seminary Ave is a 45-unit apartment building in Oakland, CA. The unit mix is 30-two bedroom/one bath and 15-one bedroom/1 bath units. 45 parking spaces for each apartment.
- Within a five minute walk is a Shop Rite grocery store. Just two blocks from the building is Seminary Point, a retail center anchored by Walgreens. and a Bank of America branch.
- With current operations, the realized stabilized rents offer 22% upside. There is an existing assumable note with a loan balance of $3,485,615 with an interest rate at 3.61%.
Exclusively Listed By
Listing Price: $5,500,000
Investment Highlights
- 2328 Seminary Ave is a 45-unit apartment building in Oakland, CA. The unit mix is 30-two bedroom/one bath and 15-one bedroom/1 bath units. 45 parking spaces for each apartment.
- Within a five minute walk is a Shop Rite grocery store. Just two blocks from the building is Seminary Point, a retail center anchored by Walgreens. and a Bank of America branch.
- With current operations, the realized stabilized rents offer 22% upside. There is an existing assumable note with a loan balance of $3,485,615 with an interest rate at 3.61%.
Investment Overview
2328 Seminary Ave is a 45-unit apartment building in Oakland, CA. The unit mix is 30-two bedroom/one bath and 15-one bedroom/1 bath units. Originally built in 1965, the structure is three stories and an estimated 35,814 sq. ft. The parcel is approximately 0.78 acres. This multi-family complex is gated at the frontage of Seminary Avenue and offers 45 off street uncovered parking spaces. There is a secure main entry gate to the building leading to a courtyard. Tenants access the apartments via exterior walkways. There is one elevator and three stairwells serving the tenants residing on the upper floors. Every unit in the building has a patio or balcony. Two common area laundry rooms for occupants of the building. There is one water and gas meter. Each apartment has a designated meter which tenants are directly billed for their electricity for usage. The apartment complex is located in the Seminary Avenue corridor, an east-west thoroughfare from San Leandro Street to I-580. There is an AC Transit bus stop within one block of the complex. The Oakland Coliseum BART station is 1.6 miles and the Fruitvale BART station is 2.4 miles from the subject property. Greenleaf Elementary school is a 15-minute walk, only 0.6 miles from property Just one half mile away from the building is the Rainbow Recreation Center. This community based resource center offers activities for all ages in the immediate neighborhood. Just two blocks from the building is Seminary Point, a retail center anchored by Walgreens. Other retailers in the center are Bank of America, It’s a Grind Coffee, and World Wireless (Metro by T-Mobile). ShopRite Supermarket is a five-minute walk for the convenience of tenants. As an investment property this building offers highly sought after two bedroom apartments. With current operations, the realized stabilized rents offer 22% upside. With some improvements to the units upon turnover and capital improvement an investor can achieve higher market rents than the current owner. There is an existing assumable note with a loan balance of $3,485,615 with an interest rate at 3.61%. This offering is an excellent opportunity for an investor with savvy property management skills to find an add-value apartment building with significant upside in rental income.
Exclusively Listed By
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