7-unit apartment complex with strong current income and excellent location one block to all the restaurants and shopping on Lakeshore Ave. The current cap rate is 7.23% and the current GRM is 9.64. The property features an attractive unit mix including two 2bd/1bth units, five 1bd/1bth units, and one studio unit. The property was originally built in 1950, offers 6,151 square feet of rental space, and sits on a 5,000 square foot lot with four vacant attached garage spaces and three off-street parking spaces. The units have been remodeled over time and offer updated kitchens and bathrooms, custom tile and lighting, hardwood floors, double pane windows, and more. The property is easy to manage and separately metered for electric, gas, and water, providing for low annual operating expenses. The seller recently spent approximately $300,000 to complete a full earthquake retrofit, upgrade the electrical, and install a new sewer lateral, to deliver a turnkey property for the next owner. This is a high demand rental location one block from Lakeshore Ave and all the popular restaurants, coffee shops, and shopping options. This location is surrounded by multi-million dollar homes and is impossible to beat if you're seeking high rents, little to no turn-over, and the best possible tenants.

Highlights:

- Excellent Unit Mix Featuring Seven Total Units Comprised of Two 2bd/1bth Units, Four 1bd/1bth Units, and One Studio Apartments

- Four Private Garages, Full Seismic Retrofit, Updated Electric System, Newer Roof, and PSL Compliant

- Prime Lakeshore Grand Lake Oakland Location Less than Two Blocks to Lakeshore Ave; Walking Distance Popular

- Restaurants, Cafes, Schools, Shopping Options, and Public Transportation

- Remodeled Units with Low Annual Operating Expenses