Key information
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Units 3
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Year Built 1923
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Average Unit Size 1,111
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Building Size 3,332
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Land Area (Sq Ft) 3,750
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Parking 3
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Separate Meters Gas, Electric
Pricing Metrics
CAP Rate:
6.7%
GRM:
10.0
Price per Unit:
$299,667
Price per Square Foot:
$270
LORE Agent Insights
Introducing Oakland’s 518 E 18th Street—the perfect starter home for any buyer who wants to pair their first residence with a stable source of rental income. This 3,332 sq. ft., 3-unit building is divided between two 1BR/1BA units and a sizable commercial space. The commercial space and one of the units will be delivered occupied, while the third unit (a rear-facing 1BR) will be delivered vacant. This arrangement will provide the new owner with a quiet, spacious place to live as well as an immediate cash flow of $5,189 per month. This property enjoys lush garden space, a shared laundry room, secured entry, and dedicated parking. Originally built in the 1920s, it also benefits from classic design elements such as wood trim finishes and built-in storage. Multiple AC Transit stops and a BART station (Lake Merritt) are all located within a 1-mile radius of this listing for commuting ease. It is also near Kaiser Permanente, Highland Hospital, Alta Bates, Children’s Hospital, and Laney College.
Financial Summary
Gross Rents (Annual):
$90,108
Other Income:
$0
Expense Pass Through:
$0
Vacancy Reserve:
$6,308
Operating Expenses:
$23,987
Net Operating Income:
$59,813
Effective Gross Income:
$59,813
Disclaimer*
The information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or representation, either express or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.
Estimated Expenses
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Market Rents (Annual):
N/A
Rent Gap:
N/A
Property Tax Rate:
N/A
Property Tax (Base):
N/A
Other Program Fee:
N/A
Business License Fee:
N/A
Rent Board Fee:
N/A
Property Management:
N/A
Resident Manager:
N/A
Turnover Costs:
N/A
Property Tax (Additional Assessments):
N/A
Maintenance, Repairs, and Reserves:
N/A
Utilities
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Gas & Electricity N/A
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Other Utilities N/A
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Insurance N/A
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Landscaping N/A
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Pest Control N/A
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Garbage N/A
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Water & Sewer N/A
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Janitorial N/A
Rent Roll Object
Log in to view all information| Unit Mix | Tenant Status | Unit Size | Number of Units | Current Rent (Average) | Market Rent Estimate | Comments |
|---|---|---|---|---|---|---|
| N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Listing Information
Listed By:
Joey Wang
Source:
bridgeMLS/CCAR/Bay East AOR
MLS:
41091723
