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Elite Real Estate Group
info@elitereg805.com$895,000
Est. payment /mo
3,998 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Subdivision Elmhurst
MLS Listing ID 41137423
HOA Y/N No
Year Built 1943
Lot Size 3,998 Sqft
Property Sub-Type Quadruplex
Property Description
Situated along the 75th Avenue corridor less than a mile from Coliseum BART, 978 75th Avenue is a fully occupied East Oakland fourplex offering immediate, stabilized income in an established rental neighborhood. The two-story building spans approximately 2,916 square feet across two 3BD/1BA and two 2BD/1BA units, each with a private entry, assigned parking, and updated kitchen with quartz countertops and shaker cabinetry. Three of four units operate under active HACA HAP contracts, with annualized gross income of $117,660 and a proforma NOI of $76,073. Separate utility meters for all four units keep the expense ratio at a lean 30.5% — tenants pay their own gas and electric. At $895,000 — $307/SF and $223,750 per unit — this is a rare chance to acquire a cash-flowing, HAP-contract fourplex in East Oakland at an 8.5% current cap rate, with current rents approximately 8% below market and a clear path to 9.5% at turnover.
Location
State CA
County Alameda
Zoning CIX-2
Interior
Heating Natural Gas, Wall Furnace
Flooring Tile, Vinyl
Fireplace No
Exterior
Total Parking Spaces 4
Building
Lot Description Corner Lot, Street Level
Others
Tax ID 41415715
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Listed by Joey Wang Keller Williams Realty #01890931
Nearby Schools & Businesses
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Elite Real Estate Group
Team