85% LTV at 3.5% & 14.27% Cash on Cash
8 Unit Apartment Building | $3,995,000 ($499,375/Unit) | 6.72% Cap Rate | Oakland, CA 94601
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $3,995,000
- Property Type
-
Multifamily
- Square Feet
- 9,052 SF
Listing Contacts
Steven Pinza
Verified Profile
- Property Info
Property Overview
The Lyon Avenue Residences is a brand new eight unit multifamily property centrally located in the Jefferson neighborhood of Oakland, CA. The building features an ideal mix of four 3bd/1.5bth and four 4bd/1.5bth, totaling 9,052 SF of rentable space. The property will be delivered 100% OCCUPIED and exempt from local rent control. 4124 Lyon is set on a huge 11,227 SF double-wide lot, featuring five covered carport spaces, three parking stalls, and onsite coin-operated laundry. The property features tastefully modern kitchens, bathrooms, and large private balconies. The building features separate meters for PG&E, and future ownership can take advantage of a RUBS program to further minimize operating expenses.
The Lyon Ave Residences boast an excellent location in Oakland's Jefferson neighborhood. This property is walking distance to prime amenities including Farmer Joe's Marketplace, coffee shops, restaurants, parks and fitness studios. Additionally, the building is only five miles from both Lake Merritt and the Oakland Zoo, providing ample opportunity for recreation. Oakland International Airport is just over a ten minute drive, making this property's location highly convenient and desirable.
EMAIL: [email protected] FOR A COMPLETE MARKETING PACKAGE
The Lyon Ave Residences boast an excellent location in Oakland's Jefferson neighborhood. This property is walking distance to prime amenities including Farmer Joe's Marketplace, coffee shops, restaurants, parks and fitness studios. Additionally, the building is only five miles from both Lake Merritt and the Oakland Zoo, providing ample opportunity for recreation. Oakland International Airport is just over a ten minute drive, making this property's location highly convenient and desirable.
EMAIL: [email protected] FOR A COMPLETE MARKETING PACKAGE
Property Details
- Class
- B
- Year Built
- 2023
- Stories
- 2
- Property Subtype
- Storefront Retail/Residential, Manufactured Housing/Mobile Home, Dormitory
- Units
- 8
Highlights
- 85% LTV, Interest Only at 3.5% Seller Carry Loan Available
- Brand New 2023 Construction Means No City Rent Control, Rent Board Fees, or Maintenance/Repairs Required
- Seismically Retrofitted and High End Finishes Inside & Outside
- Each Unit Features Modern Fixtures, Stainless-Steel Appliances, Dual Pane Windows & Large Private Patios
- 14.27% Cash on Cash Upon Lease Up
- Delivered 100% Occupied at Market Near Rents!
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