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For more information on this property, contact Daniel Winkler at 510-421-4528 or daniel@danielwinklerinc.com

439 International Blvd
OAKLAND, California CA 94606
Price: $1,995,000
Listing ID 40991342
Status Active
SqFt 5,502
Acres 0.090
Year Built 1996

Property Description:

5.5% Cap Rate on Current Rents!!! Simply one of the most unique investing opportunities I have seen in Oakland. 439 International is a co-living community organized and managed by OpenDoor a co-living operator that helped to pioneer the co-living concept. In essence individual rooms are leased from $900 to roughly $1,500 per month. There is a common kitchen where individual or communal meals can be cooked and shared. Residents pay a monthly rent and pay a pro-rata share of all utilities. Current rents are over $15,000 per month with potential to increase rents to over $18,000 per month when rooms turnover and the market allows. Co-living fits a very special niche in the tight and costly Bay Area housing market and has attracted many people who enjoy the benefits of communal living. This is a wonderful cash flowing investment for a savvy investor.
Daniel Winkler
Title: President/Broker
Office Phone: 510-528-2200
Office Fax: 510-528-2100
Cell Phone: 510-421-4528

Primary Features

County: Alameda
Price Before Reduction: 2295000
Price Reduction Date: 2022-05-25T23:20:14+00:00
Price/SqFt: 363
Property Sub Type: TRIPLEX
Property Type: Residential Income
Subdivision: OAKLAND
Year Built: 1996

Interior

Additional Equipment: Dryer, Washer, Water Heater Gas
Approximate SqFt 1: 1956
Approximate SqFt 2: 1564
Approximate SqFt 3: 1462
Basement: None
Bathrooms 1: .5
Bathrooms 2: 2
Bathrooms 3: 2
Bedrooms 2: 5
Bedrooms 3: 7
Cooling: No Air Conditioning
Flooring: Laminate, Engineered Wood
Heating: Forced Air 1 Zone, Gas
Laundry: Community Facility, Dryer, Washer
Range/Oven 2: yes
Range/Oven 3: yes
Refrigerator 1: yes
Refrigerator 2: yes
Refrigerator 3: yes

External

Exterior: Dual Pane Windows, Lap, Siding - Cement, Fiber Cement
Lot SqFt Aproximate: 3750
Parking Description: No Parking on Site, Off Street Parking, Parking Area
Roof: Unknown
Solar: None
Total Parking Spaces: 3
Water/Sewer: Sewer System - Public, Water - Public
Yard Description: Deck(s), Fenced

Location

Area: Oakland Zip Code 94606
Cross Street: 5th
Lot Description: Level
Unit 1 Address: #1
Unit 2 Address: #A
Unit 3 Address: #B

Additional

Additional Miscellaneous Features: Balcony/Patio, Extra Storage
Age: 26
Board ID: Bridge AOR
Bridge Listing Input: Paragon
Cumulative DOMLS: 30
Disclosures: Current Bus Lic, Nat Hazard Disclosure, Rent Control
DOMLS: 30
Inspection Reports: Home, Structural Pest Control
Net Operating Income: 109571
Point of Sale Ordinance: yes
Possession: Tenant's Rights
Sale/Rent: For Sale
Source: Owner
Total Units: 3

Financial

Annual Expense Year: 75636
Annual Gross Scheduled Income: 185208
Annual Insurance Expense: 9266
Annual Maintenance Expense: 13000
Annual Management Expense: 23151
Annual Rental Income: 185208
Annual Taxes: 17106
Annual Utility Expense: 3400
Annual Vacancy Expense: 5556
City Transfer Tax: yes
Existing Lease Terms: Month to Month, Security Deposit, Written Agreement, Year Lease
Financial Data Source: Estimated, Owner, Property Manager
Gross Operating Actual Income: 185208
Operating Expenses: Garbage Collection, Insurance, Janitorial, License/Ads, Maintenance/Repair, Management, Property Tax/Assessments, Vacancy Factor
Rent 1: 2250
Rent 2: 5563
Rent 3: 7621
Special Information: None
Tenant Pays: Other
Terms: Cash, 1031 Exchange
Total Deposits: 21557

Zoning Info


Contact

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Winkler Real Estate Group

1215 Solano Avenue
Albany, CA 94706
Phone: 510-528-2200
Phone Alt: 510-528-5810
Fax: 510-528-2100

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