Description
1753 16th Ave is a 4plex with 1 vac unit located in Oakland’s San Antonio district within close proximity of a vibrant commercial zone w/restaurants, shops & services. Originally built in 1910, this building consists of two 2 BD/1 BA units & two 1 BD/1 BA units. The property presents an opportunity for immediate cash flow with rental upside*. All tenants are on mo-to-mo leases w/most at below market rents. This allows for the next investor the opportunity to raise rents upon turnover & increase cash flow. Newer roof & misc improvements from 2018-2022; all units are separately metered for PG&E. • 1749 (Upstairs): 2BD/1BA - 1,063sf - $1,500/mo • 1751 (Downstairs): 1BD/1BA - 635sf - $900/mo • 1753 (Downstairs): 1BD/1BA - 1,080sf - $1900 projected/mo • 1755 (Upstairs): 2BD/1BA -1,052sf - $1,500/mo (OHA Sec 8) On-site laundry & storage. Centrally located, convenient freeway access. Banked rents since 2018 *Buyer to investigate with Oakland RAP regarding deferred allowable rent increases. Views: Downtown
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