1946 Foothill Blvd Oakland, CA 94606-4647

This exceptional 18-unit apartment building, located at 1946 Foothill Blvd in Oakland, CA's San Antonio submarket, presents a compelling value-add investment opportunity. The three-story building, constructed in 1957 and boasting 11,316 square feet on a 10,496 square foot lot, features a mix of fourteen one-bedroom/one-bathroom units and four two-bedroom/one-bathroom units. Currently generating a NOI of $187,104 and a 6.24% cap rate, the property offers significant upside potential. A pro-forma NOI of $300,431 and a pro-forma cap rate of 10.01% highlight the potential for increased profitability through strategic improvements. These improvements could include leasing additional storage units and parking spaces, capitalizing on high demand. The asking price is $3,000,000, translating to an attractive price per unit of $166,667 and a price per square foot of $265.11. Further enhancing its appeal, the property has undergone a completed seismic retrofit, ensuring structural integrity and peace of mind. Its prime location, conveniently situated between Lake Merritt and Fruitvale BART stations, provides residents with easy access to public transportation and nearby cultural attractions. Onsite parking is available, adding to the property's desirability. This combination of strong fundamentals, significant upside potential, and a desirable location makes this a truly exceptional investment opportunity.