Centrally located triplex for your next investment adventure. This property is fully occupied at close to market value. 2 units with 2 beds 1 bath. 1 unit 1 bed 1 bath situated on almost a 5000 SF lot. Buyer to verifly lot size. Built in 1930. Each unit is equipped with a washer/dryer, stove and refrigerator. property has tandem driveway and two car garage currently being used for storage, but has potential for another unit.
This property is a dynamic cash flow machine, as it generates a true 5% Capitalization Rate on the existing financials and is located in the very desirable Highland Heights Neighborhood less than 5 minutes away from Highland Hospital making for an extremely strong rental demand. The unit mix is outstanding, comprised of 5 very large 2bd/1ba apartments with on-site parking for each unit and the property also has onsite laundry. Two of the units are rented close to market and the other Three are under market, which means there is also upside value in the rents.
Oakland is located in California. Oakland, California has a population of 437,548. Oakland is less family-centric than the surrounding county with 29.48% of the households containing married families with children. The county average for households married with children is 36.75%.
The median household income in Oakland, California is $85,628. The median household income for the surrounding county is $112,017 compared to the national median of $69,021. The median age of people living in Oakland is 36.9 years.
The average high temperature in July is 71.7 degrees, with an average low temperature in January of 43.7 degrees. The average rainfall is approximately 23.6 inches per year, with 0 inches of snow per year.
