www.9326Bancroft.com; 7-unit apartment complex offering six 1bd/1bth units and one 2bd/1bth unit with excellent current cash flow. The current cap rate is 10.32% and the current GRM is 7.25! The property was originally built in 1966, offers approximately 4,432 square feet of rental space, with six garages that will be delivered vacant that can be rented for additional income or possible new ADUs. Five units are currently rented to Section 8 tenants and one tenant is rented to Abode providing for maximum stability and control. The 2bd/1bth unit will be delivered vacant and is perfect for an owner-occupant or rented before closing. All of the units have been extensively remodeled and offer new kitchens, bathrooms, upgraded electrical and plumbing, new flooring, double pane windows, new exterior and interior paint, a newer roof, and more. The property is easy to manage and is separately metered for PG&E providing for low annual operating expenses. This is an Oakland location near HWY 580, Bishop O’Dowd High School, Mills College, Sequoyah Country Club, and Lake Chabot Golf Course.
Property Details
Price:
$1,295,000
MLS #:
41068198
Status:
Pending
Baths:
0
Address:
9326 Bancroft Ave
Type:
Residential Income
City:
Oakland
Listed Date:
Jul 30, 2024
State:
CA
ZIP:
94603
Lot Size:
3,800 sqft / 0.09 acres (approx)
Year Built:
1966
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Schools
Interior
Cooling
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Heating
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Exterior
Parking Spots
6.00
Financial
Association Fee
0.00
Tenant Pays
Gas
Map
Community
- Address9326 Bancroft Ave Oakland CA
- CityOakland
- CountyAlameda
- Zip Code94603
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Courtesy of The Pinza Group, Inc. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
9326 Bancroft Ave
Oakland, CA
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