Renovated Apartment Complex in
2555 Foothill Blvd Oakland, CA 94601
2555 Foothill Blvd, Oakland, CA, 94601
$11,501,000
For Sale
$11,501,000
61-unit apartment complex in Oakland's Fruitvale District.
Property Size30,012 SF
Lot Size0.79 Acres
Price / SF$383.21
Days on Market103
Property Features for 2555 Foothill Blvd
General Information
- Standard status
- Active
- Size
- 30,012 SF
- Lot size
- 0.79 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1947
Listing Agency
INFINITY INVESTMENTS
(510) 380-8101
Listed by
STEVEN PETERSON · License #01746140
Source
Corcoran
Added: Apr 9 Checked: Jul 19 at 4:23 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of INFINITY INVESTMENTS
Investment Insights
Based on property information with market context.
Located in the Fruitvale District, in the heart of Oakland's central business district and close to Lake Merritt, this 61-unit apartment complex, known as Casa Magna Apartments, is a gated three-story property consisting of two separate structures. The property offers a total of 30,012 square feet of living space on a 0.79-acre lot. The building was substantially renovated in 2014 down to the studs and foundation. The property is well-maintained and professionally landscaped. A large laundry room generates monthly income. The unit mix includes 22 two-bedroom/one-bath units, 21 studio/one-bath units, and 18 one-bedroom/one-bath units. Various apartment units have a balcony or patio. Ample covered carport parking and off-street parking are available. Security features include monitoring cameras and gated entry. The property offers affordable living with great potential and a strong sense of community, particularly appealing to those seeking proximity to medical facilities and a diverse, established neighborhood.
Key Highlights
- Substantially renovated in 2014, down to the studs and foundation
- 31% upside in rents allows for increased returns
- Located in the Fruitvale District, close to Lake Merritt and Oakland's central business district
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.21M | $40.20 |
| − Vacancy | −$44.6k | −$1.49 |
| EGI | $1.16M | $38.71 |
| − OpEx | −$522.8k | −$17.42 |
| NOI | $639.0k | $21.29 |
30,012 SF · lease $40.20/SF/yr · vacancy 3.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$9.13M
$7.99M – $10.65M
NOI $639,013 @ 7.0% cap · market cap 5.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.23M
$10.70M – $14.27M
NOI $856,324 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Perlita
Clothing Store
ShyShy Ledbetter
Housing Complex
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FAQs
What type of property is this?
Apartment building - 61-unit apartment complex in Oakland's Fruitvale District.
Where is this apartment building located?
The property is located at 2555 Foothill Blvd Oakland, CA.
What is the asking price?
The asking price for this property is $11,501,000.
What are key features of this property?
This property features: Substantially renovated in 2014, down to the studs and foundation; 31% upside in rents allows for increased returns; Located in the Fruitvale District, close to Lake Merritt and Oakland's central business district
