822 56th St
- Desirable Unit Mix: The property features six units, including five charming studios and a spacious 2-bedroom, 1-bath apartment with its own private washer and dryer.
- Thoughtful Layout: The ground floor hosts the 2-bedroom apartment and one studio, while four additional studios are located upstairs, offering versatility to meet a variety of tenant preferences.
- Classic Architectural Appeal: Built in 1912, this building exudes timeless charm with its preserved historical character and unique details.
- Prime Location: Located on a peaceful, tree-lined street in North Oakland, near Berkeley and Temescal, with convenient access to Highways 24 and 580.
- Close to Amenities: Just a short stroll to public transportation, local cafes, laundry facilities, and everyday conveniences, making life easier for tenants.
- Strong Rental Demand: Perfect for renters seeking both comfort and practicality, ensuring the property remains a highly sought-after choice in the rental market.
- Extensive Capital Improvements: Recent upgrades include a freshly painted staircase, repaired and replaced side shingles, updated landscaping, partial knob & tube wiring replacement, new windows, some new kitchen countertops and flooring, and a few new water heaters.
- Competitive Pricing: Offered at $175,000 per unit, with a 10.66 GRM and a 5.56% CAP rate, providing an attractive investment opportunity.
Property Description
822 56th Street offers a highly desirable unit mix, featuring five charming studios and a spacious 2-bedroom, 1-bath unit with a private washer and dryer. The thoughtful layout includes the 2-bedroom apartment and one studio on the ground floor, while four additional studios occupy the second floor. Built in 1912, the building retains its classic architectural appeal, showcasing timeless charm and character that resonates with both residents and investors. Located on a quiet, tree-lined street in North Oakland, the property benefits from a prime location close to Berkeley and the vibrant Temescal district, with easy access to Highways 24 and 580. Tenants will appreciate the convenience of being within walking distance of public transportation, local coffee shops, and essential services. This combination of peaceful surroundings and nearby amenities makes it an ideal choice for renters seeking both comfort and practicality. In addition to its attractive location and unit mix, the property has undergone extensive capital improvements. Recent upgrades include a freshly painted staircase, repaired and replaced side shingles, updated landscaping, and partial updates to electrical wiring. Some windows, kitchen countertops, flooring, and water heaters have also been replaced. Priced competitively at $175,000 per unit, with a 10.66 GRM and a 5.56% CAP rate, this property represents an excellent investment opportunity in a strong rental market.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,050,000 |
| No. of Units: | 6 |
| Year Built: | 1912 |
| Lot Size: | 0.09 Acres |
| Opportunity Zone: | No |
| Price per unit: | $175,000 |
| Property Website | Click Here |
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