For Sale
$1,400,000

629 18Th StOakland, CA 94612

High-Cap Rate, 6-Unit Apartment Building

Overview

Added:
Dec 11, 2024
Days on market:
115
This meticulously maintained six-unit apartment building in Oakland, CA presents a compelling investment opportunity. Located at 629 18th Street, 94612, this property boasts a desirable 7.40% cap rate and an asking price of $1,400,000. The 5,626 square foot building, constructed in 1898, sits on a 0.1-acre lot and offers a price per square foot of $248.84 and a price per unit of $233,333. Each unit is a spacious three-bedroom, one-bathroom apartment averaging 1,000 square feet, featuring modern amenities such as stainless steel appliances, granite countertops, in-unit washer/dryer, and dishwasher. A unique non-conforming bonus unit, a one-bedroom, three-bathroom apartment, adds to the property's potential. The building benefits from separately metered utilities. Its prime location offers a "Walker's Paradise" experience with a Walk Score of 98 and a "Biker's Paradise" with a Bike Score of 93, placing it within a five-minute walk of the Fox Theater and the heart of Downtown Oakland/Uptown. The property also presents potential for future development, such as the addition of an Accessory Dwelling Unit (ADU). This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a thriving Oakland neighborhood.

Highlights

  • $233,333 per unit price.
  • $249 per square foot price.
  • 7.40% capitalization rate.
  • Walk Score of 98; Walker's Paradise.
  • Bike Score of 93; Biker's Paradise.
  • Separately metered units.

Property Details for 629 18Th St

Property type
Mixed-use properties, Apartment buildings
Square Feet
5,626 SF
Year Built
1898
Lot Size (sq. ft)
4,356 SF

Location Insight

City
Oakland
County
Alameda
State
California
Latitude
37.808244
Longitude
-122.273948
629 18Th St, Oakland, California

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629 18Th St
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