2657 Ivy Dr.

Oakland, CA 94606
\ Pending Offer

$1,200,000

5-Unit Apartment Building

Property Highlights
  • $275,000 per unit, well below comps
  • 4.93% Cap Rate with fantastic upside potential
  • Total Investment Return of 5.18% in a prime location
  • Separately metered for PG&E contributing to low overhead expenses
  • Current rents are approximately 36% below market providing the potential opportunity to increase the net operating income by 65%.
Bos Group is pleased to present this exclusive listing at 2657 Ivy Dr. in the desirable Ivy hill neighborhood. This 5-unit building is on the market for the first time since 1994. The property features (5) spacious one-bedroom, one-bath units. All units are over 800 sqft, and three out of the five units have a back patio that runs across the entire unit. Given its location on top of Ivy hill, there are sweeping views of Adams Point from three of the units. Two of the units will be delivered vacant. All the units are well-maintained and have separate meters for both gas & electricity, individual water heaters, hardwood floors, open floor plans, and lots of natural light. There are four secure garage parking spaces, a large basement for storage that can be shared amongst tenants, and a coin-op laundry room on-site that provides additional income and a bonus adjacent owner’s room. 2657 Ivy Dr. is priced with a generous return of over 5% on day one, perfect for an investor looking to grow long-term with over 36% rental upside still to be achieved while enjoying a solid day one return.
Year Built

1953

Number of Units

5

Price/Unit

$275,000

Square Feet

4,050

Cost/Sq. Foot

$340

CAP
4.93%
GRM

13.60

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