6638-6646 MacArthur Blvd | Oakland, CA 94605
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- LoopNet Team
6638-6646 MacArthur Blvd
Oakland, CA 94605
8% CAP, 16.5% $ on $, 3.1% LOAN · Build-to-Rent Property For Sale
·
81 Units
INVESTMENT HIGHLIGHTS
- $10,500,000 LOAN AT 3.1% INTEREST ONLY DUE IN DECEMBER 2031 CURRENTLY AT FIRST REPUBLIC BANK. BUYER MAY TAKE “SUBJECT TO” IF THEY ELECT TO DO SO.
- Existing Cash on Cash Return with Existing Loan 16.5%
- 34% Upside in the Rents
- Existing Cap 8%, Market Cap 12%
- Existing Gross Rent Multiplier 9.2 Market Gross Rent Multiplier 6.6
- No deferred maintenance - Easy Management
PROPERTY FACTS
| No. Units | 81 | Property Size | 53,000 sq ft |
| Property Type | Build-to-Rent | Average Occupancy | 99% |
| Property Subtype | Apartment | No. Floors | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1958/1960 |
| Costar Property Class | B | Parking Allocation | 2.38/1,000 sq ft |
| Total Plot Size | 2.09 ac | ||
| Use Class | R-70, Oakland - Multifamily Residential | ||
| No. Units | 81 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Costar Property Class | B |
| Total Plot Size | 2.09 ac |
| Property Size | 53,000 sq ft |
| Average Occupancy | 99% |
| No. Floors | 2 |
| Year Built/Renovated | 1958/1960 |
| Parking Allocation | 2.38/1,000 sq ft |
| Use Class | R-70, Oakland - Multifamily Residential |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
- Quartz Countertops
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Security System
- Gated
- Online Services
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| 1+1 | 55 | - | 400 - 450 |
| 2+1 | 23 | - | 550 |
| 2+2 | 2 | - | 650 |
| 3+2 | 1 | - | - |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £2,488,952 | |
| Land Assessment | £1,070,152 | Total Assessment | £3,576,841 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£1,070,152
Improvements Assessment
£2,488,952
Total Assessment
£3,576,841
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