2649 62nd Avenue

Oakland, CA 94605

$999,999
Price
Beds
3,289 Sq. Ft.
$304 / Sq. Ft.
3,289
Sq. Ft.
$304
per Sq. Ft.

Description

100,000 PRICE REDUCTION, Seller Motivated! We want a serious offer. In today's high interest rate environment you must find unique buildings that will outpace inflation and cash flow immediately considering current interest rates. This property will deliver immediate cash flow returns while maintaining the growth potential in the rents due to having 4 subsidized tenants on HUD's VASH program for Veterans which guarantees rental collections and even has the ability to obtain rental increases above...100,000 PRICE REDUCTION, Seller Motivated! We want a serious offer. In today's high interest rate environment you must find unique buildings that will outpace inflation and cash flow immediately considering current interest rates. This property will deliver immediate cash flow returns while maintaining the growth potential in the rents due to having 4 subsidized tenants on HUD's VASH program for Veterans which guarantees rental collections and even has the ability to obtain rental increases above the allowable amounts for market rate Rent Controlled units. Beat the street by purchasing this excellent investment property!
  1. Listed by Mickelin Burnes-Browne • DRE #01082776 • Mickelin Burnes Browne, Broker • 408-569-0978
  2. Listed by Steven Peterson • DRE #01746140 • INFINITY INVESTMENTS

Property Details for 2649 62nd Avenue

MLS City Name
OAKLAND
Building Type
Other
Garage Spaces
0
Parking Spaces
4
View
None
Cross Street
Bancroft 62 Ave
LISTING UPDATED: 07/15/2024 07:39 PM

Property Details for 2649 62nd Avenue

StatusActive
MLS #ML81951352
Days on Compass191
Taxes$19,620 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1960
Lot Size0.09 AC / 3,760 SF
CountyAlameda County

Virtual Tour

Building Information for 2649 62nd Avenue

Stories-Residences-Year Built1960Building Size-Lot Size0.09 AC / 3,760 SF

Property Information for 2649 62nd Avenue

Features
Features
  • Fireplace: No
  • Living SqFt: 3289
  • Pool: No
  • Security Features: Security Building, Window Bars
  • Special Features: Parking
Utilities
  • Cooling: None
  • Heating: Wall Furnace
  • Meters: Separate Electric, Separate Gas, Separate Water
  • Sewer Septic: Sewer - Public
  • Utilities: Public Utilities
  • Water: Water On Site
Carport and Parking
  • Carport Min: 4
Garage
  • Garage and Parking: Carport, Covered Parking
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 5
  • Area Text: Oakland Zip Code 94605
  • Restrictions: None
  • Roof: Rolled Composition
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 2649
  • Street Name: 62nd
  • Street Suffix: Avenue
  • Area ID: 2605
Lot / Property Details
Building Information
  • Number of Buildings: 1
  • Structure SqFt: 3289
  • Structure SqFt Source: Assessor
  • Age: 64
Development Information
  • Ownership Type: Individual
  • Zoning Detail: Multi Family Dwelling
Location Information
  • City Limits: Yes
  • Directions: See google maps for directions from your location.
  • Incorporated: Yes
  • Parcel Number: 038-3200-005-02
  • County Name: Alameda
  • City Name: OAKLAND
  • City Postal ID: 131
  • Postal Code: 94605
  • Elementary School District: 1686
  • High School District Text: Oakland Unified
Lot Information
  • Foundation: Concrete Slab
  • Lot Acres: .09
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
Mobile / Manufactured Information
Other Information
  • Dual Variable: Yes
Multi Family Information
Building Information
  • No Of Leased: 5
General Information
  • Annual Tax Amount: $19,620
  • Capitalization Rate: 8.14
  • Tenant Expenses: Utilities - Electric, Utilities - Gas, Utilities - Heating, Utilities - Hot Water, Utilities - Water
  • Income Includes: Laundry, Lease
  • Vacancy Factor: 2
Income / Expense Details
  • Expense Insurance: $5,100
  • Expense Landscape: $0
  • Expense Maintenance: $3,000
  • Expense Management: $6,102
  • Expense Trash: $3,096
  • Expenses Other: $1,500
  • Expenses Utility: $2,190
  • Expenses Total: $40,608
  • Operating Expenses Include: Accounting/Legal, Insurance, Loan - Principle & Interest, Maintenance, Services - Sewer, Services - Trash Removal, Utilities - Electric, Utilities - Water
  • Gross Rent Multiplier: 8.03
  • Income Annual Gross: $122,010
  • Income Annual Rental: $123,000
  • Income Gross Scheduled: $124,500
  • Income Other: $1,500

Property History for 2649 62nd Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2649 62nd Avenue

Taxable ValueLand$202,530Additions$472,760Total$675,290
Tax Record2023$13,792 ($1,149 / month)
Home Facts
Total Finished SqFt3,289 SqFtAbove Grade Finished SqFt3,289 SqFtStories2Lot Size3,760 SqFtStyleMulti-Family Res (5+ Units)Year Built1960CountyALAMEDAAPN38-3200-5-2

Schools near 2649 62nd Avenue

This home is within Oakland Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 6 to 8
Public - 9 to 12
Charter - K to 8
Rating
School
Distance
Greenleaf Elementary School
PublicK to 8

Frick United Academy of Language
Public6 to 8

Castlemont High
Public9 to 12

East Oakland Leadership Academy
CharterK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

2649 62nd Avenue is a multi-family home for sale in Oakland, CA 94605. This property was listed for sale on January 13, 2024 by Mickelin Burnes Browne, Broker, it's currently listed at $999,999. It has been on the market for a total of 191 days and was last sold on March 2, 2016. This listing's school district is Oakland Unified School District. Nearby schools include Greenleaf Elementary School, Frick United Academy of Language and Castlemont High. 2649 62nd Avenue is a 0-bed, 0-bath, 3,289 sqft multi-family home built in 1960.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Mickelin Burnes Browne, Broker, Mickelin Burnes-Browne, DRE #01082776; INFINITY INVESTMENTS, Steven Peterson, DRE #01746140

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.