Description
To access the marketing package copy/paste: https://bit.ly/kitehillre Introducing 9833 Walnut Street, a high-yield multifamily investment offering exceptional in-place cash flow with substantial value-add potential. Built in 1963, the property features an outstanding unit mix of (3) one-bedroom/one-bath units, (2) two-bedroom/one-bath units, and (1) three-bedroom/two-bath unita diverse mix that appeals to a broad tenant base and supports long-term occupancy. The asset generates nearly $105,000 in annual gross income and is offered at just over an 8.0 GRM, over a 7.0% cap rate, approximately $220 per square foot, and $170,000 per unit. With strong in-place cash flow and a projected 30% upside in rental income translating to approximately 50% upside in NOI, investors have a rare opportunity to acquire an asset that performs on day one while offering significant future growth. Recent capital improvements include a completed earthquake retrofit and a new perimeter fence, reducing future capital expenditure concerns. Additional amenities include covered parking and on-site coin-operated laundry, creating added convenience for tenants and supplemental income for ownership. Well priced relative to today's market fundamentals, 9833 Walnut Street is an ideal acquisition for investors seeking immediate yield, durable cash flow, and meaningful upside through strategic rent growth.
Details
| MLS # | 41144574 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1963 |
| Days On Site | 26 |
| Listing Provided By | Kite Hill Real Estate | Jatin Mehta |
Features
| Units | 5 |
|---|---|
| Acreage | 0.17 |
Interior
| Cooling | None |
|---|---|
| Heating | Natural Gas |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
Exterior
| Construction Materials | Stucco |
|---|
Area Information
| State | CA |
|---|---|
| County | Alameda |
| City | Oakland |
| Zip Code | 94603 |
| Community Name | IVY WOOD EXT. |
| Listing VS Median (in IVY WOOD EXT.) | |
Price: $850,000 low | high Med: $499,000 On site: 26 low | high Med: 58 | |
Market Activity 94603
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Learn More About This Property
| State | CA |
|---|---|
| County | Alameda |
| City | Oakland |
| Zip Code | 94603 |
| Community Name | IVY WOOD EXT. |
| Listing VS Median (in IVY WOOD EXT.) | |
Price: $850,000 low | high Med: $499,000 On site: 26 low | high Med: 58 | |
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