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Listed by Quentin Hyde • HPI Real Estate
$970,000
Est. payment /mo
7,392 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Subdivision Prescott
MLS Listing ID 01-41131797
Year Built 1989
Lot Size 7,392 Sqft
Property Sub-Type Triplex
Source California Regional Multiple Listing Service (CRMLS)
Property Description
Excellent opportunity for an owner-operator or investor to acquire a versatile 3-unit property on one lot in the heart of Oakland with clear value-add potential. This unique offering features a primary residence plus two separate cottages, providing flexible living and income opportunities. One of the cottages has been recently remodeled and is delivered vacant—ideal for an owner-occupant seeking immediate move-in while offsetting expenses with rental income. The main house and second cottage are currently occupied, offering stable in-place cash flow. The property currently generates approximately $74,968 in annual rental income (4.3% cap rate). With lease-up of the vacant unit at a conservative market rent of $2,100/month, projected gross income increases to approximately $87,642 annually. After applying a standard vacancy factor, this equates to a stabilized cap rate of approximately 5.1%, offering a realistic and achievable path to improved returns. The property is priced to reflect deferred maintenance, presenting an opportunity for buyers to further enhance value through improvements and operational upside. Situated in a convenient Oakland location with strong rental demand, this property is well suited for buyers looking to live in one unit while building long-term weal
Location
State CA
County Alameda
Interior
Heating Forced Air
Flooring Carpet, Vinyl
Exterior
Parking Features Garage
Building
Lot Description Up Slope from Street
Others
Virtual Tour https://f8.f8re.com/videos/019d9d3a-f89f-7009-ad6a-e390fbac7e5d?v=130
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John R Thompson
Broker/Owner | License ID: 01200900
Broker/Owner License ID: 01200900