33 Home Pl Oakland, CA 94610

This exceptional five-unit apartment building, located at 33 Home Pl E in Oakland, California's Ivy Hill neighborhood, presents a compelling investment opportunity. Built in 1949, the property boasts a total of 5,019 square feet situated on a 5,815 square foot lot. The building comprises three spacious two-bedroom units featuring formal dining and living rooms, and two additional two-bedroom, one-bathroom units. Currently generating a NOI of $111,317, resulting in a 7.81% cap rate, pro forma projections indicate a NOI of $119,266 and an 8.37% cap rate, showcasing significant upside potential. The asking price is $1,425,000, or $285,000 per unit. Conveniently located near the 580 freeway and local amenities, the property benefits from its quiet cul-de-sac setting, offering tenants a secure and desirable living environment. The property's history of low vacancy rates and its potential for value enhancement through unit renovations make it an attractive investment for those seeking stable, long-term returns in a thriving Oakland neighborhood. The property's strong cash flow and potential for future appreciation make it an ideal addition to any investment portfolio. This is a day-one cash-flowing property with significant upside potential.