1920 Castro St

Oakland, CA 94612

\ Closed

Offered at $1,650,000

6-Unit Apartment Building

Property Highlights
  • 8.99% Return Day One
  • 3 Units Completely Renovated
  • Separately Metered For PG&E
  • 3 Units Delivered Vacant
  • Coin-Op Washer/Dryer

1920 Castro St is a 6-unit apartment building in the desirable Uptown neighborhood just minutes from Downtown Oakland. The property features a diverse unit mix of (1) two bedroom/one bathroom, (4) one bedroom/one bathroom, and (1) studio. This turn of the century Victorian building still retains most of its original period detailing and charm.

The Seller has completed significant capital improvements inside and out including new exterior siding, common area flooring, and seismic bracing. Three of the six units have also been completely renovated with new kitchen and bath, vinyl floors, stainless steel appliances, and paint. Though most of the work is done, there is still value-add opportunity for a new owner to improve remaining units and build out the large unfinished basement (~1,500sf). Additional income can be achieved by providing basement storage units or a non-conforming 7th unit since the electrical and plumbing is already in place.

Downtown Oakland is rapidly becoming a hub for technology and trendy living. Strong rental demand and increasing quality of work will allow vacant units to easily realize market rents. It is also centrally located to the highway and other public transportation for easy access to the entire Bay Area.

Don’t miss out on the opportunity to acquire a rare, high cash flow property in a prime location and over an 8% return day one.

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