INCOME PROPERTY FOR SALE: 23 UNITS Stacy Arms Apartments		click to see larger image
STATUS:	Sold - March, 2006
ADDRESS:	2856 Fruitvale Avenue Oakland, CA 94601 Cross Street: Brookdale Avenue Map Code: 650-D5
PRICE:	$3,325,000
VALUE INDICATORS:	GRM: 7.8 Cap Rate: 6.7 Price per unit: $79,166
MOTIVATION:	Seller was very motivated to exchange into the 43-unit building located at 3840 Howe Street in Oakland.
DESCRIPTION:	Modern 42-unit apartment building in Oakland's Upper Fruitvale district. It is one of Fruitvale's largest and most desirable properties, offering an intercom entry, balconies, parking, landscaped courtyard with pool, elevator and some views. This is the first time this property has been presented to the market in over 25 years. Sellers are willing to carryback a second loan. There is an assumable first loan which is fully amortized in twelve years.
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