Oakland
2709 Ivy Drive
at 8th Ave near Park Blvd
$1,400,000
Don’t miss this great investment in the hot Ivy Hill neighborhood. 12 corner units with hardwood floors, vintage details, and tiled baths. Situated on the hill allows many units to have views with some to downtown. There is a garage for 3-4 cars.
The units are individually metered. The owner provides steam heat, water and garbage.
The building is wood framed with stucco exterior detailed in a Tudor style. There are a lot of wonderful old world architectural details inside and out. The rear units have nice views with some to the downtown skyline. New common area interior paint. Newer exterior paint, boiler, circuit breakers, and roof.
With some units at low rents and a neighborhood that continues to become more desirable, this building is a great opportunity for upside and future appreciation.
RENT ROLL |
||
Unit |
Mix |
Current Rent |
| 1. | 1/1 | $914.64 |
| 2. | 1/1 | $719.40 |
| 3. | 1/1 | $895.00 |
| 4. | 1/1 | $850.00 |
| 5. | 1/1 | $821.60 |
| 6. | 1/1 | $925.00 |
| 7. | 1/1 | $925.00 |
| 8. | 1/1 | $500.00 |
| 9. | 1/1 | $881.52 |
| 10. | 1/1 | $955.53 |
| 11. | 1/1 | $980.40 |
| 12. | 1/ | $850.00 |
| 12A. | 1/1 Illegal | $725.00 |
| Garage | $200.00 | |
| Laundry: | $60.00 | |
| Total Monthly Income: | $11,203.09 | |
| Annual: | $134,437.00 | |
EXPENSES
Total $51,192
GAI $134,437
Less expenses $51,192
Net Operating Income $83,245
Current Cap 7
* figures above have been annualized based on actual expenses from Jan 1, 2008-Sep 20, 2008
**Does not include insurance, professional management or real property taxes
For more information or to make an appointment please call JEFF ANCKER
415.699.7714 Cell |
415561.9747 Voice Mail