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Description
Fairfax Apartments is a well-maintained fourplex on a quiet street. Built in 1964, this 3,232 SF* building is situated on a 5,797 SF* lot. The property consists of four 2-bed/1-bath units that average 800 SF* each. Two units are not currently rented, allowing for an owner move-in or rent at market rate. Current rents are approximately 23% below market rate, providing the opportunity to increase the NOI by approximately 28%. All units are individually metered for gas and electric. The property also features a sizable parking area at the back of the building that can fit up to four cars. Parking/storage is a potential source of additional income. The property is located in the Fairfax neighborhood of Oakland. The area is “Very Walkable” and has “Good Transit,” according to Walk Score. Supermarkets, cafes, restaurants, parks, and other conveniences are within walking distance. Downtown Oakland, Lake Merritt, and two BART stations are 10 minutes away by car. *To be verified by Buyer.
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Courtesy of: Marcus & Millichap The real estate listing information is provided by California Regional MLS, Inc. and/or CARETS® for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing or leasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of the California Regional MLS, Inc. and/or CARETS®. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns the web site. Information is deemed reliable but not guaranteed, and consumer is responsible for verifying the accuracy of all information. Copyright © California Regional MLS, Inc. and/or CARETS®. All Rights Reserved. Updated: 8th February, 2023 6:25 AM (UTC)
