734 Wesley Way
Oakland
Classic 1920's 5 Plex - SOLD
This property is located near the coveted Crocker Highlands neighborhood in Oakland. 734 Wesley Way is a beautiful, vintage 1920’s apartment building with much of the finishes of that era intact, in an “A” location.
Property Information
| Type |
Apartment |
| Units |
5 |
| APN |
023-0425-028-00 |
| Square Footage |
3717 |
| Lot Size |
5,470.00 sq.ft. (per county records) |
| Year Built |
1920 |
| Lapham Listing? |
 |
Financial Summary
| Price |
$585,000 |
| Down Payment |
|
| Loan Payment |
|
| Cash on Cash Estimate |
|
| Pro-Forma Cash Flow Est |
|
| Scheduled Cap Rate |
6.30 |
| Pro-Forma Cap Rate |
|
| Scheduled GRM |
|
| Pro-Forma GRM |
|
| Price Per Unit |
$117,000 |
This property is located near the coveted Crocker Highlands neighborhood in Oakland. 734 Wesley Way is a beautiful, vintage 1920’s apartment building with much of the finishes of that era intact, in an “A” location. The building consists of 5 apartments with one for one parking with the possibility of adding two more tandem parking spaces. This property experienced its first vacancies in three years, which gives a buyer the opportunity to take Two- 1 bedroom apartments to market rent levels. The seller has also received a notice to vacate from a 3rd unit, a studio that is at least $300 below market. The apartments have desirable layouts with hardwood floors, high ceilings, ample light, gas range, and stoves. There are Two- Studio/1 bath apartments, Two- 1 Bedroom/1bath apartments, and One- 1+ Bedroom/1 Bath apartment with a private entrance and garage. The electrical was updated from fuses to breakers, and the property has been well maintained throughout the years. It is individually metered for gas and electricity and the landlord pays for water, garbage and the cost of the steam boiler. Across the street from the Trader Joe’s shopping center with Peet’s Coffee, Walgreens,
Farmer’s market on the weekends, and fine dining on Lakeshore Avenue. Close to the 580 Freeway, and public transportation.
