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Workforce Multi Family Development- 15 Units 8024 Rudsdale St 15 Unit Apartment Building £1,037,302 (£69,153/Unit) Oakland, CA 94621
INVESTMENT HIGHLIGHTS
- 15 Unit, entitled approved development in an Opportunity Zone
- Located near the Oakland International Airport, Port of Oakland, and the SF East Bay industrial employment base.
- In a qualified census tract
- The building design offers units averaging over 1,300 sq. ft.
- Located across the street from Oakland Public Library and Acorn Woodland Elementary School
- Potential Annual Gross Income over $618K
EXECUTIVE SUMMARY
BUILD IT THEY WILL COME! 15 Unit development in an high demand area for workforce housing. The opportunity is located near Oakland's major employment centers. The property is under five miles from the Oakland
International Airport. Additionally Oakland's large industrial presence offers prospective tenants ample employment
opportunities nearby. For those working outside the immediate area major transportation hubs are in close proximity.
The Coliseum BART station is less than one mile from the site and Interstate 880 is two miles away.
This development opportunity potentially brings much needed workforce housing units to an area surrounded by
employment centers & near transit. It sits across the street from an elementary school and the Oakland Public Library. Costs to build can be saved from the fact the foundations and exterior walls are in place. Local
approvals are in place so a builder can start immediately and provide more housing to the area quickly. Property can be developed now and has ready to issue permit in place.
International Airport. Additionally Oakland's large industrial presence offers prospective tenants ample employment
opportunities nearby. For those working outside the immediate area major transportation hubs are in close proximity.
The Coliseum BART station is less than one mile from the site and Interstate 880 is two miles away.
This development opportunity potentially brings much needed workforce housing units to an area surrounded by
employment centers & near transit. It sits across the street from an elementary school and the Oakland Public Library. Costs to build can be saved from the fact the foundations and exterior walls are in place. Local
approvals are in place so a builder can start immediately and provide more housing to the area quickly. Property can be developed now and has ready to issue permit in place.
FINANCIAL SUMMARY (PRO FORMA - 2023) |
ANNUAL | ANNUAL PER sq ft |
|---|---|---|
| Gross Rental Income |
£457,939
|
£26.74
|
| Other Income |
-
|
-
|
| Vacancy Loss |
£23,891
|
£1.40
|
| Effective Gross Income |
£434,048
|
£25.35
|
| Taxes |
£72,611
|
£4.24
|
| Operating Expenses |
£44,826
|
£2.62
|
| Total Expenses |
£117,437
|
£6.86
|
| Net Operating Income |
£316,611
|
£18.49
|
FINANCIAL SUMMARY (PRO FORMA - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £457,939 |
| Annual Per sq ft | £26.74 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per sq ft | - |
| Vacancy Loss | |
|---|---|
| Annual | £23,891 |
| Annual Per sq ft | £1.40 |
| Effective Gross Income | |
|---|---|
| Annual | £434,048 |
| Annual Per sq ft | £25.35 |
| Taxes | |
|---|---|
| Annual | £72,611 |
| Annual Per sq ft | £4.24 |
| Operating Expenses | |
|---|---|
| Annual | £44,826 |
| Annual Per sq ft | £2.62 |
| Total Expenses | |
|---|---|
| Annual | £117,437 |
| Annual Per sq ft | £6.86 |
| Net Operating Income | |
|---|---|
| Annual | £316,611 |
| Annual Per sq ft | £18.49 |
PROPERTY FACTS
AMENITIES
SITE AMENITIES
- Controlled Access
- Smoke Free
- Storage Space
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| 3+3 | 5 | £2,881 | 2,136 |
| 2+2 | 7 | £1,904 | 898 - 1,047 |
| 2+1 | 2 | £1,904 | 898 - 1,148 |
| 3+2 | 1 | £2,529 | 1,015 |
1 1
Walk Score®
Easily Walkable (72)
PROPERTY TAXES
| Parcel Number | 041-4203-016-01 | Total Assessment | £867,833 (2025) |
| Land Assessment | £413,254 (2025) | Annual Taxes | £72,611 (£4.24/sq ft) |
| Improvements Assessment | £454,579 (2025) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
041-4203-016-01
Land Assessment
£413,254 (2025)
Improvements Assessment
£454,579 (2025)
Total Assessment
£867,833 (2025)
Annual Taxes
£72,611 (£4.24/sq ft)
Tax Year
2023
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Workforce Multi Family Development- 15 Units | 8024 Rudsdale St
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