3114 Ashbrook Ct Oakland, CA 94601
- Apartment buildings
- 4,178 SF
- 0.12 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 3114 Ashbrook Ct
- Year built
- 1952
- Construction
- WOOD
- Lot size
- 0.12 lot acres
- Property size
- 4,178 SF
- Property type
- Apartment buildings
- APN
- 26-766-5-1
- APU
- 2676651
Description
This 8-unit apartment building, located at 3114 Ashbrook Ct. in Oakland, CA 94601, presents a compelling value-add investment opportunity. The property boasts 4,222 square feet across two stories, with an asking price of $1,400,000 ($175,000 per unit and $331.60 per square foot). Currently, the building has 75% occupancy, generating a Net Operating Income (NOI) of $48,411 and a cap rate of 3.46%. However, a pro-forma analysis projects a significantly improved NOI of $93,981 and a cap rate of 6.71%, indicating substantial upside potential. The property features recently remodeled interiors and includes five garages, a significant amenity for residents. The building's location on a quiet court adds to its appeal. This multifamily investment offers a chance to increase profitability through improved occupancy and potentially further value-add renovations. The property's strong fundamentals, combined with its location in Oakland, California, make it an attractive prospect for investors seeking to capitalize on the growing rental market. The Alameda County location provides access to various amenities and transportation options. This is a rare opportunity to acquire a well-situated multifamily property with clear potential for significant return on investment.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Oakland
- County
- Alameda
- State
- California
- Longitude
- -122.222
- Latitude
- 37.7866
- CBSA code
- 41860
- CBSA name
- SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA
