1066 54th St
- Potential for Owner Occupied Investment
- Low Downpayment Potential
- Over 40% upside in gross rents
- $220,000 per unit
- Rent by the Room or by the Unit
- Desirable North Oakland Location
- Large Unit Mix
- In-Unit Laundry
- (0.9) Miles to Bay Street Emeryville
- 98 Bike Score
- 90 Walk Score
Property Description
1066 54th Street, (the “Property”) is a 5-unit apartment community in the city of Oakland.
Originally constructed in 1908, the property is comprised of (2) Studio units, (2) 2-Bedroom / 1-Bedroom units, and (1) 4-Bedroom / 1.5-Bathroom unit, with a combined average size of ~585 square feet. The property is well positioned to take advantage of an improving market and offers significant upside with built in downside protection. Location is attractive for individuals working from home due to its proximity to Bay Street Emeryville Shopping Center, Public Market Emeryville & Powell Street Plaza along the I-580 & I-80 corridor. The property also maintains appeal to inoffice or hybrid workers with ease of access to the rest of the East Bay and taking BART from the MacArthur BART station (1.3 miles) or driving via I-80 (under 15 minutes) into San Francisco. Property boasts a Walk Score of 90 – daily errands can be accomplishable on foot. San Francisco, Berkeley, Marin, and the greater Bay Area are all easily accessible by both freeway and public transportation. 1066 54th Street residents can enjoy world-class entertainment, shopping, and all the benefits of living within one of the most dynamic regions in the country.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Highest & best offer |
| Multifamily type: | Apartments |
| Price: | $1,100,000 |
| No. of Units: | 5 |
| Cap Rate: | 5.23% |
| GRM /GIM: | 11.62 |
| Year Built: | 1908 |
| Building Size: | 2,255 Sq ft |
| APN: | 13-1185-6 |
| Opportunity Zone: | No |
| Price per unit: | $220,000 |
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