| INCOME PROPERTY FOR SALE: 43 UNITS |
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| STATUS: |
Sold - April, 2006 |
| ADDRESS: |
3840 Howe Street
Oakland, CA 94611
Cross Street: MacArthur Blvd.
Map Code: 649-J1 |
| PRICE: |
$5,500,000 |
VALUE
INDICATORS: |
GRM: 12.0
Cap Rate: 4.9
Price per unit: $127,906
Price per square foot: $133 |
| DESCRIPTION: |
43-unit apartment building built in 1970 located across from Kaiser Hospital, one block from Piedmont Avenue in Oakland. Purchased from the original owner. Low rents across the board. Unit mix is 12 2-br/1-ba renting from $875 to $1,050, 29 1-br/1-ba units renting from $750 to $900 and two 2-br/2-ba penthouses renting at $1,320. All units have balconies and dishwashers. Some fireplaces. Undergound parking for all units. No pool.
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