FOR SALE Park Blvd Oakland, CA. office: direct:

Transcription

1 FOR SALE Park Blvd Oakland, CA office: direct:

2 PROPERTY DESCRIPTION PARK BOULEVARD Park Blvd is a 9 unit building built in 1949 at the corner of Park Boulevard and Ivy Drive at the base of Ivy Hill. The building consists of 2 2b/1ba, 6 1b/1ba and one studio. There is a laundry room, dedicated storage and 8 garage parking spaces. Park Boulevard offers an investor tremendous upside in rental income. The subject property is located in the Ivy Hill neighborhood of Oakland adjacent to Park Boulevard Plaza. Tenants are within walking distance to Lake Merritt as well as the E. 18th St. retail corridor. Park Blvd is centrally located with easy access to the 580 freeway and several AC Transit lines. Investment Highlights: Charming 1949 Construction Separately Metered for Water (including hot water), Gas and Electric Adjacent to Park Blvd Plaza Tremendous Income Upside Concrete Perimeter Foundation Annualized Operating Income: Gross Potential Income: $128,960 Less Vacancy Factor (2%):$2,579 Effective Gross Income: $126,380 Less Expenses: $43,688 Net Operating Income: $83,292 Expenses: Property Tax (1.188%):$21,325 Special Assessments: $3,798 Insurance: $3,670 Water and Sewer: $1,102 PG&E: $1,156 Garbage: $6,687 Maintenance & Repairs: $3,000 Bus. Tax & Rent Board Fees: $2,350 Total Expenses: $43,088 Expenses/Unit: $4,788 Vital Data: Price: $1,795,000 Gross Sq Ft: 6,860 Lot Size Sq Ft: 5,800 Price per Sq Ft: $262 Price/Unit: $199,444 CAP Rate (Current):4.64% (Current):13.9 Year Built: 1949 MARKETING PACKAGE PARK BLVD PAGE 1

3 Rent Roll Park Boulevard Oakland, CA Unit BD/BA Tenant Status Rent Deposit Move In A 0/1.00 Leo Ramponi Current /1.00 Amy Edgerly Current 1, /1.00 Ralph E. Wright Current 1, , /1.00 L. P. Brookhart Current 2, , /1.00 Tom Galaraga Current 1, , /1.00 Shirley Moore Current /1.00 Angela Turner Current 1, , /1.00 Decoven Rhem Current 1, /1.00 Nicole Rivera Current 1, , Prior to /15/ /14/ /01/ /01/ /01/ /01/ /01/ /15/2014 Total 9 Units 100.0% Occupied 10, , MARKETING PACKAGE PARK BLVD PAGE 2

4 Park Boulevard MARKETING PACKAGE PARK BLVD PAGE 3

5 SALES COMPARABLES 2247 IVY DRIVE OAKLAND, CA STATUS Sold SIZE 5,568 SF $1,575,000 PRICE/SF $283 5 TYPE 1-1b/1ba; 3-2b/1ba; 1-3b/1ba 1941 PRICE PER UNIT $315,000 12/14/18 PARKING CARROLL STREET OAKLAND, CA STATUS Sold SIZE 12,588 SF $3,400,000 PRICE/SF $ TYPE 1 Studio; 6-1b/1ba; 4-2b/1ba; 1-2b/2ba 1929 PRICE PER UNIT $261,538 12/11/18 PARKING MARKETING PACKAGE PARK BLVD PAGE 4

6 SALES COMPARABLES 160 ATHOL AVENUE OAKLAND, CA STATUS Sold SIZE 6,326 SF $1,700,000 PRICE/SF $268 5 TYPE 1-1b/1ba; 1-2b/1ba; 2-3b/1ba 1923 PRICE PER UNIT $340,000 6/11/18 PARKING MACARTHUR BLVD OAKLAND, CA STATUS Sold SIZE 5,901 SF $2,570,000 PRICE/SF $457 8 TYPE 7-1b/1ba; 1-2b/1ba 1965 PRICE PER UNIT $321,250 10/19/18 PARKING MARKETING PACKAGE PARK BLVD PAGE 5

7 SHAMROCK REAL ESTATE COMPANY Shamrock Real Estate Company is a family-owned, diversified, real estate services company. We are an industry leader in commercial and residential sales and brokerage, income property management, and residential and mixed-use development. Our highly-experienced agents handle the purchase and sale of all types of property throughout San Francisco and the Peninsula, including multi-family, commercial buildings, NNN properties, development properties, single-family homes, condos, and TICs. Shamrock has a demonstrated commitment to excellent customer service and a reputation for thorough and reliable market knowledge. We seek to, and succeed in, adding value to every transaction and investment with which we are involved. Shamrock s mission is to strive for excellence in providing honest Real Estate brokerage services, specializing in multi-family, land, and new construction sales. Shamrock is committed to the cultivation of superior market knowledge, achieving the best results for its clients, and creating and maintaining relationships with both clients and other Real Estate professionals. We pride ourselves on adhering to the highest standards of integrity and honesty in every aspect of our work. Shamrock Real Estate Co Van Ness Avenue, Suite 2 San Francisco, CA Shamrock Realty 630 Taraval Street San Francisco, CA MARKETING PACKAGE PARK BLVD PAGE 6