1717 12th Street

Oakland, CA 94607-1412

$1,795,000
Beds: 0.5
Baths: 0.5

Features

  • 12 Total Units
  • (9) 1 Bedroom/ 1 Bath Units
  • (3) 2 Bedroom/ 1 Bath Units
  • Individually Metered for Electric
  • Some Remodeled Units
  • Newer Dual Pane Windows
  • Exceptional West Oakland Location
  • Near Newer Pulte Townhome Development
  • Near Pacific Cannery Lofts
  • Near Jack London Square
  • Close Proximity to West Oakland BART

 

Investment Highlights:
– 12 Total Units
– (9) 1 Bedroom/ 1 Bath Units
– (3) 2 Bedroom/ 1 Bath Units
– Individually Metered for Electric
– Some Remodeled Units
– Newer Dual Pane Windows
– Exceptional West Oakland Location
– Near Newer Pulte Townhome Development
– Near Pacific Cannery Lofts
– Near Jack London Square
– Close Proximity to West Oakland BART

NO. OF UNITS: 12
YEAR BUILT: 1904
UNIT MIX:  9 – 1 Bedroom/ 1 Bath Units & 3 – 2 Bedroom/ 1 Bath Units

SQ/FT: 5,771
LOT SIZE: 6,312
PRICE: $1,795,000
PRICE PER UNIT: $149,583
PRICE PER SQUARE FOOT: $311

GRM:                                                                  
Current: 11.95                                 
Market: 8.20

CAP RATE (EST):                                                
Current: 4.77%  
Market: 8.48%

Unit #

Type

Current Rent

Proforma Rent

A

1 Bedroom / 1 Bathroom

$1,200.00

$1,450.00

B

1 Bedroom / 1 Bathroom

$750.00

$1,450.00

C

1 Bedroom / 1 Bathroom

$750.00

$1,450.00

D

1 Bedroom / 1 Bathroom

$1,200.00

$1,450.00

E

2 Bedroom / 1 Bathroom

$1,000.00

$1,695.00

F

1 Bedroom / 1 Bathroom

$764.25

$1,450.00

G

1 Bedroom / 1 Bathroom

$1,200.00

$1,450.00

H

2 Bedroom / 1 Bathroom

$1,200.00

$1,695.00

I

1 Bedroom / 1 Bathroom

$1,200.00

$1,450.00

J

1 Bedroom / 1 Bathroom

$1,200.00

$1,450.00

K

2 Bedroom / 1 Bathroom

$850.00

$1,695.00

L

1 Bedroom / 1 Bathroom

$1,200.00

$1,450.00

TOTALS:

$12,514.25

$18,135.00

Scheduled Annual Gross Income:
Current: $150,171
MarketL $218,820

Less Vacancy:
Current: ($4,505)
Market: ($6,565)

Gross Operating Income:
Current: $145,666
Market: $212,255

Estimated Annual Operating Expenses:
$25,805: Real Estate Taxes (New at 1.4403%)
$3,950: Special Assessments
$5,379: Insurance
$5,716: PG&E
$6,724: Water, Sewer
$1,422: Garbage
$600: Oakland Rent Board Fee at $30 Per Unit
$948: Pest Control
$2,223: Business License
$5,400: Repairs & Maintenance at $450 Per Unit
$1,800: Replacement Reserves at $150 Per Unit
($59,967): Less Estimated Annual Operating Expenses

Net Operating Income:
Current: $85,699
Market: $152,288

(75,736): Less Debt Service 1st Loan

Pre-Tax Operating Cash Flow:  
Current: $9,963
Market: $76,552

$24,332: Plus Principal Reduction 1st Loan

TOTAL RETURN AFTER DEBT SERVICE:
Current: $28,262
Market: $94,852

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