740 Alcatraz AveOakland, CA 94609

This exceptional 5-unit apartment building, located at 740 Alcatraz Ave, Oakland, CA 94609, presents a compelling investment opportunity. The property boasts a total of 2,413 square feet situated on a sizable 6,000 square foot lot. The building comprises three studios, one one-bedroom unit, and one spacious two-bedroom unit, offering a diverse mix of rental options. Three units have undergone tasteful renovations. Residents enjoy the convenience of on-site coin-operated laundry and ample basement storage. Six private garages, housed in a separate structure, generate significant supplemental income, currently exceeding $14,000 annually, with potential for further growth. Individual gas and electric meters simplify utility management. The property's strategic location provides easy access to CA-24 freeway and is within walking distance of the Ashby BART station. The asking price is $1,248,000, representing $249,600 per unit. The current NOI is $77,518, with a pro-forma NOI of $93,013, yielding a 6.30% cap rate and a pro-forma cap rate of 7.45%. This well-maintained building offers a stable investment with achievable rental upside in a strong market.