740 Alcatraz AveOakland, CA 94609

Property Details for 740 Alcatraz Ave

Year built

1910

Construction

WOOD

Lot size

0.14 AC

Property size (Sq ft)

2,413 SF

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

16-1432-9

APU

1614329

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $828,755

  6.5%

  $765,004

  7%

  $710,361

• Comparable approach

  Method

  Valuation

  Relative Method

  $954,420

  Geo Method

  $1,043,165

• Alternative Use

  Use

  Valuation

  Residential

  $765,004

  Hospitality

  $700,740

  Educational

  $583,007

  Medical

  $603,058

  Retail

  $906,900

Location Insight

City

Oakland

County

Alameda

State

California

Latitude

37.8496

Longitude

-122.267

CBSA code

41860

CBSA name

SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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