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Multifamily

Peralta Hacienda Apartments

2452 34th Ave, Oakland, CA 94601

Listing Price: $1,295,000

Cap Rate
5.60%
Number of Units
4
Price/Unit
$323,750
Price/Gross SF
$347.65
Gross SF
3,725

Investment Overview

Peralta Hacienda Apartments is a well-maintained fourplex located at the end of a city-designated "Slow Street" on a quiet cul-de-sac. The building consists of four two-bedroom/one-bathroom units each measuring 930 square feet, ideal for work-from-home professionals. Significant value-add opportunity with the potential to convert apartments into three-bedroom units and add a fifth unit. The vacant unit offers the option for either an owner move-in or to rent at market rate. The property is generating reliable cash-flow with two Section 8 tenants. Electrical and gas meters are separate and utility expenses are low. The current owner has completed many recent capital improvements including a new roof and three upgraded units. Additional tenant amenities include four off-street parking spaces and leased laundry machines that provide additional income. The property is not on the City of Oakland soft-story list. Located adjacent to Peralta Hacienda Historical Park, tenants have immediate access to the Peralta Creek nature area, as well as community and cultural events at the Peralta House. Near Fruitvale shops, restaurants, and entertainment. Just a 10-minute drive to downtown Oakland and Lake Merritt; 20 minutes to San Francisco. Fruitvale BART is a 10-minute bike ride away. This desirable location and large units ensure high long-term rental demand.

Investment Highlights

  • Four Spacious Two-Bedroom/One-Bathroom Units with Potential to Add a Third Bedroom in All Units
  • Unused Storage Area Could be Converted to a Fifth Unit
  • Vacant Unit Ideal for Owner Move-In or Rent at Market
  • Recent Capital Improvements: New Roof, Three Units Remodeled
  • Reliable Section 8 Income from Two Units
  • Low Expense Ratio, Separate PG&E Meters
  • Tenant Amenities: Off-Street Parking and Cashless Laundry Machines
  • Not Designated by City of Oakland as a Soft-Story Building

Exclusively Listed By

Multifamily

Peralta Hacienda Apartments

Listing Price: $1,295,000

Cap Rate
5.60%
Number of Units
4
Price/Unit
$323,750
Price/Gross SF
$347.65
Gross SF
3,725

Investment Highlights

  • Four Spacious Two-Bedroom/One-Bathroom Units with Potential to Add a Third Bedroom in All Units
  • Unused Storage Area Could be Converted to a Fifth Unit
  • Vacant Unit Ideal for Owner Move-In or Rent at Market
  • Recent Capital Improvements: New Roof, Three Units Remodeled
  • Reliable Section 8 Income from Two Units
  • Low Expense Ratio, Separate PG&E Meters
  • Tenant Amenities: Off-Street Parking and Cashless Laundry Machines
  • Not Designated by City of Oakland as a Soft-Story Building

Investment Overview

Peralta Hacienda Apartments is a well-maintained fourplex located at the end of a city-designated "Slow Street" on a quiet cul-de-sac. The building consists of four two-bedroom/one-bathroom units each measuring 930 square feet, ideal for work-from-home professionals. Significant value-add opportunity with the potential to convert apartments into three-bedroom units and add a fifth unit. The vacant unit offers the option for either an owner move-in or to rent at market rate. The property is generating reliable cash-flow with two Section 8 tenants. Electrical and gas meters are separate and utility expenses are low. The current owner has completed many recent capital improvements including a new roof and three upgraded units. Additional tenant amenities include four off-street parking spaces and leased laundry machines that provide additional income. The property is not on the City of Oakland soft-story list. Located adjacent to Peralta Hacienda Historical Park, tenants have immediate access to the Peralta Creek nature area, as well as community and cultural events at the Peralta House. Near Fruitvale shops, restaurants, and entertainment. Just a 10-minute drive to downtown Oakland and Lake Merritt; 20 minutes to San Francisco. Fruitvale BART is a 10-minute bike ride away. This desirable location and large units ensure high long-term rental demand.

Exclusively Listed By

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