138 Monte Cresta Ave Oakland, CA 94611-4869

Property Details for 138 Monte Cresta Ave

Year built

1929

Construction

WOOD

Lot size

0.33 lot acres

Property size

20,507 SF

Property type

Apartment buildings

APN

12-988-20-1

APU

12988201

Description

This exceptional 30-unit apartment building, located at 138 Monte Cresta Ave in Oakland, CA (94611), presents a compelling investment opportunity. The property, situated on a desirable corner lot off Piedmont Avenue, boasts a mix of 14 one-bedroom and 16 studio apartments. All but two units have undergone renovations, with most featuring updated kitchens and bathrooms. Many units enjoy abundant natural light and ample closet space. The building is equipped with a coin-operated laundry room (3 washers and 3 dryers), and all units include dishwashers. Heating is provided by owner-supplied steam heat. Electricity for common areas is solar-powered, while individual units have separately metered gas and electricity, with gas stoves in most units (except one all-electric studio stack). The property includes a lush entryway, attractive lobby, and a sizable, park-like side yard with tenant seating areas. Parking is ample, with two garages providing a total of 21 spaces (13 upper, 8 lower). Security features include an intercom system, security cameras, and a security fence. An owner storage room is also available. The building's strong financial performance is reflected in its $7,400,000 asking price, 5.78% cap rate, and $427,985 NOI. The property encompasses 20,507 square feet, with a price per square foot of $360.85 and a price per unit of $246,666.67. The Alameda County Assessor's Parcel Number (APN) is 012-0988-020-01. This property offers a blend of attractive features and strong financial metrics, making it an ideal addition to any investment portfolio.