(415) 710-7284
NREINKE@KW.COM
DRE# 01916819
All materials and information received or derived from KW Commercial Oakland, its directors, officers, agents, advisors, affiliates, and/or any third party sources are provided without representation or warranty as to completeness, veracity or accuracy, condition of the property, compliance, or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.
Neither KW Commercial Oakland, its directors, officers, agents, advisors, or affiliates make any representation or warranty, express or implied, as to accuracy or completeness of any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. KW Commercial Oakland/KW Commercial East Bay will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third-party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KW Commercial Oakland makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercial Oakland does not serve as a financial advisor to any party regarding any proposed transaction.
All data and assumptions regarding financial performance, including those used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at, or increased to that level. Parties must evaluate any applicable contractual and governmental limitations, as well as market conditions, vacancy factors, and other issues in order to determine rents from or for the property.
Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by KW Commercial Oakland in compliance with all applicable fair housing and equal opportunity laws.
Keller Williams is pleased to be retained as the exclusive broker for the 3142 Coolidge Avenue Apartments. The subject property is located in the School neighborhood of Oakland, CA.
Built in two phases 1904 and 1993, the 3142 Coolidge Avenue Apartments is located just off of Interstate 580 and Fruitvale Avenue. The property consists of two (2) buildings. The older building is a craftsman duplex and the newer is a fourplex. Both buildings are built of wood frame construction with wood siding and a mix of vinyl and aluminum windows. Significant structural improvements were made to the older building over the Summer of 2022. The buildings contain approximately 5,997 square feet of livable space set on a lot of approximately 9,240 square feet.
The buildings consist of six (6) units. There are five (5) Three Bedroom One Bath units, of approximately 850 square feet. The last unit is a Five Bedroom Two Bath unit of approx. 1,547 square feet. This unit features the bottom two floors of the duplex. All of the kitchens feature Formica countertops and laminate flooring. Living spaces feature new plank flooring throughout both buildings. All of the bathrooms contain bathtubs with tiled surrounds with showers, vanities and laminate flooring. Heat to the duplex is provided via gas wall heaters. Heat to the fourplex is provided via electric wall heaters. All of the units are separately metered for gas and electricity. Each unit contains separate hot water heaters. All units feature in-unit washer and dryers. On-site parking is assigned to each unit. Street parking is also readily available.
The 3142 Coolidge Avenue Apartments offer investors the opportunity to acquire a well situated property with substantial upside. The property is exempt from Oakland’s rent control ordinance as it has a certificate of occupancy from 1993. This property offers 14.53% upside in rents. The front building presents an excellent owner occupy opportunity. Cash on cash day one return of 12.83%. Total return of over 189%. Investors can purchase this property with little deferred maintenance and 100% occupancy.
Repairs
8.96% Cap / 8.13 GRM (Market)
Total Return of 18.02%
Current Rents 14.53% Below Market
Recently Renovated Units
Five Bedroom Owner’s Unit
Low Maintenance Property
Located Close to Schools
Historically High Occupancy
*Source - San Francisco Business Times
Separately Metered for Gas and Electricity
Separate Hot Water Heaters
Security Camera System
On-Site Parking
Oakland is the largest and most established city in the East Bay. It encompasses 52 square miles and offers 19 miles of coastline to the west and beautiful rolling hills to the east. Along with its presence as a major West Coast port, Oakland boasts a well-diversified economy of traditional manufacturing, service, and trade industries enhanced by a strong and rapidly increasing high-technology presence.
Oakland is the largest city in Alameda County and the eighth- largest city in California. From 1990 to 20019, the city’s population rose steadily from 372,250 to an estimated 425,097, equating to an increase of 14.2%.
That figure is projected to reach 435,884 by 2025. The median age of city residents is 34.5 years, with 23.5% of residents within the prime renter age group of 20 to 34 years.
Not Subject to Oakland Rent Control
10.45% Cash on Cash Return Day 1
Assumable Debt at 3.79% with 32 months remaining
6.85% Cap / 10.01 GRM (Current)
• Fruitvale Bart Station is steps away.
• 1-880 & HWY 24/1-980 are less than a 1/2 mile while 1-80 is less than two miles away.
• Many major AC Transit Bus Lines can be found on Foothill Blvd, which borders the property, and International Blvd just a few blocks from the asset.
Total Population Median Household Income Median Home Value Median Rent
2,698+ $57,390 $568,571 $1,231
Not Subject to Oakland Rent Control
CA
Oakland is a city in California with a population of 425,097. Oakland is in Alameda County. Living in Oakland offers residents an urban-suburban mix feel and most residents rent their homes. In Oakland, there are a lot of bars, restaurants, coffee shops, and parks. Many families and young professionals live in Oakland.
#2 #6 #12
Boriqua Kitchen
Cafe Umami
China Gourmet Express
Flower Lounge
Fortune
Grand Lake Kitchen - Dimond
Jade Palace
La Hacienda
La Perla Puerto Rican Cuisine
Las Palmas Super Burrito
Los Olivos Restaurant
Lucky Three Seven
Ly-Luck
Mz Kettle’s BBQ
Nama Japanese cuisine ( Ramen and Sushi)
Southern Café
Taqueria Los Comales
Carrington Steps
Alameda Museum
Oakland Zoo
Golden State Bridge
Oakland Museum of California
Crab Cove Visitor Center
Christmas Tree Lane
Cohen Bray House
Pacific Pinball Museum
Lake Merritt
Oakland Aviation Museum
The Gardens at Lake Meritt
Nipse Hussle Mural (Oakland)
Joaquin Miller Abbey
Camron-Stanford House
Cleveland Cascade
Franklin Park
Morcom Rose Garden
The Pergola at Lake Merritt
Dracena Quarry Park
A & R Market
Al Market
Farmer Joe’s Marketplace
Gazzali’s Express
Hien‘s Market
Hometown Grocery
Mi Ranchito Market
Nature‘s Best Foods
Rancho Market and Produce
S & S Market
Safeway
School Market
Sunbeam Market
Taza Market
gwen jackson park
