2144 High St

09-22-2022
09-30-2022

2144 High St, Oakland, CA 94601

  • Total Investment Return of 8.72%
  • 6.06% In-Place Cap rate
  • Strong Unit mix of (4) 2x1 & (1) 3x2
  • $266 per square foot, priced to sell
  • 6.03% Cash-on-Cash Return
  • Current rents are approximately 30% below market providing a tremendous opportunity to increase income.

Property Description

Open House:
Thursday, September 22nd: 1:30 pm - 2:30 pm
Friday, September 23rd: 2:30 pm - 3:30 pm

Bos group is pleased to present this exclusive listing at 2144 High St. This investment is a number's driven investors' dream. This 5-unit apartment showcases high returns, cash-on-cash, and Cap Rate.
The property features a very strong unit mix of (4) two-bedroom, one-bath units and (1) three-bedroom, one-bath units. Three of the units have fully remodeled bathrooms and some with a partially remodeled kitchen and new floors. Two of the units are section 8 tenants providing guaranteed income. Both tenants have had rent increases of over $250 a few weeks ago. There are four secure garage parking spaces and a coin-op laundry room on-site that provides additional income.

2144 High St is priced with a return of over 8.72% on day one and showcases a 6.03% cash-on-cash return. Combined with the fact the current tenants are paying 30% below-market rents is made for investors with the long-term vision to acquire a well-maintained 5-unit cash flowing on day 1 with the opportunity to grow in income & value.

Call/Email Ken Wu for the OM and any questions.

Unit Mix

Description No. of Units Sq ft. Avg. Monthly Rent
2x1 4 650 $ 1,574
3x2 1 750 $ 2,850

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Mid-Rise
Price
$ 1,150,000
No. of Units
5
Cap Rate
6.06%
GRM / GIM
10.5
Average Occupancy
100%
Year Built
1962
Building Size
4,329 Sq ft
Lot Size
5,450 sq ft
No. of Stories
2
APN
032-2047-030
No. of Parking Spots
5
Opportunity Zone
No
Buy Side Fee
2.5%
Price per unit
$ 230,000

Financial Details

Income/Expense Info
Actual
Gross Income
$ 109,776
Effective Gross Income
$ 108,678
Operating Expenses
$ 39,021
Net Operating Income
$ 69,658
Pre-tax Cashflow
$ 34,695.99
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37.777571, -122.208458

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