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2333 HUMBOLDT AVE.

OAKLAND, CA

5 UNIT COMPLEX . 4693 SQFT

$1,445,000

  • Unit 1 = 3 bed, 2 bath, 1100 sqft.

  • Unit 2-4 = 2 bed, 1 bath, 900 sqft.

  • Unit 5 = 1 bed, 1 bath, 800 sqft.

COMMERCIAL INVESTMENT PROPERTY

  • Coin operated laundry
  • Single car garage parking for each unit
  • Expansive driveway for additional parking

This 5 unit complex is located within 5-7 minutes of both the 880 and 580 interstate freeways that connect you to neighboring cities. A 10 minute drive westwards brings you to Lake Merrit and the bustling shops of Piedmont. It rests on a quiet street in a friendly neighborhood and serves as a great investment property as 4 of the 5 units are already occupied with preexisting tenants. The third unit is a 3 bedroom, 2 bath unit and is currently available. Its availability allows for an additional $3600 in revenue per month with the right tenant. This available unit is updated with laminate floors and has the largest interior space of the 5 units. A rear deck that opens to a quiet creek will certainly entice any future tenants. A coin operated laundry and plenty of parking make it advantageous for tenants as parking has always been a hurdle in major metropolitan areas like Oakland and San Francisco.

CLICK HERE FOR PROPERTY DISCLOSURES

COMFORT IN OAKLAND

EXPERIENCE

Start with a visual tour of the property through the photos below.

Click on any image below for an exploded view.

OPERATING STATEMENT

CURRENT PROPERTY STATUS

The figures below reflect the property's current operating status with the units occupied by the current tenants.

  • Apt A = Vacant

  • Apt B = $925

  • Apt C = $1,050

  • Apt D = $1,100

  • Apt E = $1,500

  • Laundry = $347

TOTAL MONTHLY INCOME = $4,922

TOTAL ANNUAL INCOME = $59,064

  • Property Tax = $16,655
  • Insurance = $2,879
  • Garbage = $2,134

TOTAL ANNUAL EXPENSES = $21,667

  • ANNUAL INCOME = $59,064
  • ANNUAL EXPENSES = $21,667

TOTAL NET INCOME = $37,397

MONTHLY/ANNUAL REVENUE
ANNUAL EXPENSES
ANNUAL NET PROFIT

OPERATING STATEMENT

PRO FORMA A

The figures below reflect the property's operating status with the units occupied by the new tenants with adjusted market rental rates per unit and property taxes reflecting a $1,445,000 purchase price.

  • Apt A = $3,600

  • Apt B = $925

  • Apt C = $1,050

  • Apt D = $1,100

  • Apt E = $1,500

  • Laundry = $347

TOTAL MONTHLY INCOME = $8,522

TOTAL ANNUAL INCOME = $102,264

  • Property Tax = $19,899
  • Insurance = $2,879
  • Garbage = $2,134

TOTAL ANNUAL EXPENSES = $24,912

  • ANNUAL INCOME = $102,264
  • ANNUAL EXPENSES = $24,912

TOTAL NET INCOME = $77,352

MONTHLY/ANNUAL REVENUE
ANNUAL EXPENSES
ANNUAL NET PROFIT

OPERATING STATEMENT

PRO FORMA B

The figures below reflect the property's operating status with the units occupied by the new tenants with adjusted market rental rates per unit and property taxes reflecting a $1,445,000 purchase price.

  • Apt A = $4,200

  • Apt B = $1,800

  • Apt C = $2,300

  • Apt D = $2,300

  • Apt E = $2,300

  • Laundry = $347

TOTAL MONTHLY INCOME = $13,247

TOTAL ANNUAL INCOME = $158,964

  • Property Tax = $19,899
  • Insurance = $2,879
  • Garbage = $2,134

TOTAL ANNUAL EXPENSES = $24,912

  • ANNUAL INCOME = $158,964
  • ANNUAL EXPENSES = $24,912

TOTAL NET INCOME = $134,052

MONTHLY/ANNUAL REVENUE
ANNUAL EXPENSES
ANNUAL NET PROFIT

CALCULATED AT $1,445,000 PRICE

CAP PERCENTAGE & GRM

  • 3.8% CAP; 24.47% GRM
CURRENT
PRO FORMA A
  • 5.35% CAP; 14.13% GRM
PRO FORMA B
  • 9.27% CAP; 9.09% GRM

NEIGHBOR ANALYSIS

MARKET COMPARABLES

SOLD - 734 WESLEY WAY

PRICE =  $1,700,000

SOLD DATE = 8/4/22

PROPERTY DETAILS

  • 5 UNITS
  • 3,717 SQFT
  • $484 PRICE/SQFT
  • ATTACHED GARAGE
  • 5 PARKING SPACES
SOLD - 3421 SALISBURY ST.

PRICE =  $1,385,000

SOLD DATE = 10/6/22

PROPERTY DETAILS

  • 5 UNITS
  • 4,136 SQFT
  • $335 PRICE/SQFT
  • OPEN PARKING AREA
  • 4 PARKING SPACES
FOR SALE - 808 61ST ST.

PRICE =  $1,675,000

SOLD DATE = 10/6/22

PROPERTY DETAILS

  • 5 UNITS
  • 3,262 SQFT
  • $513 PRICE/SQFT
  • ATTACHED GARAGE PARKING
  • 5 PARKING SPACES
  • ALL UNITS OCCUPIED

UNIT 1

2 BED/1 BATH700 SQFT$1653/MONTH RENT

UNIT 2

3 BED/1 BATH800 SQFT$3150/MONTH RENT

UNIT 3

0 BED/1 BATH550 SQFT$1600/MONTH RENT

UNIT 4

1 BED/1 BATH650 SQFT$2072/MONTH RENT

UNIT 5

0 BED/1 BATH550 SQFT$1808/MONTH RENT

Get in touch

We're here to help answer any questions you have. Looking forward to meeting you!

21 Massolo Drive

Suite C

Pleasant Hill, CA 94523

415-990-0012

juan@luxegroup.com

Juan Sabino

DRE#02104887