410 Fairmount AveOakland, CA 94611

Property Details for 410 Fairmount Ave

Year built

1926

Construction

WOOD

Lot size

0.17 AC

Property size (Sq ft)

16,306 SF

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

10-809-13

APU

1080913

Description

This exceptional 18-unit apartment building at 410 Fairmount Ave, Oakland, CA 94611, presents a compelling investment opportunity. Boasting 16,306 square feet on a 7,250 square foot lot, this property offers a strong mix of unit types: two studios, ten one-bedroom, and six two-bedroom units. Built in 1926 and recently seismically upgraded, the building features significant capital improvements, including a complete electrical panel replacement and individual unit meter installations, resulting in lower PG&E expenses. The property includes seven secured parking spaces. The current Net Operating Income (NOI) is $235,914, yielding a 6.30% cap rate, while the pro-forma NOI is $291,098, projecting a 7.80% cap rate. The asking price is $3,750,000, translating to $208,333 per unit and an 8.7 GRM. Its prime location above Lake Merritt ensures high tenant demand and strong rental growth potential. This well-maintained, easily managed asset offers a secure, long-term investment with substantial upside. The building's recent upgrades minimize future maintenance needs, enhancing its value and appeal to investors seeking a stable, high-performing property in a desirable Oakland location. This is a rare opportunity to acquire a multifamily property with proven cash flow and significant potential for appreciation.

• CAP approach

  CAP return

  Valuation

  6%

  $5,600,362

  6.5%

  $5,169,565

  7%

  $4,800,310

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,449,552

  Geo Method

  $7,049,255

• Alternative Use

  Use

  Valuation

  Residential

  $5,169,565

  Hospitality

  $4,735,294

  Educational

  $3,939,709

  Medical

  $4,075,201

  Retail

  $6,128,436

Location Insight

City

Oakland

County

Alameda

State

California

Latitude

37.819

Longitude

-122.256

CBSA code

41860

CBSA name

SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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