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28985217
28985236

6446 Colby St, Oakland, CA 94618

GC
CA CA 01700439
NAI Northern California - HQ
Listed by NAI Northern California - HQ
$2,195,000
166 days on market
Updated 26 days ago

6446 Colby

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,513
Net Rentable (SqFt) 5,513
Units 9
Cap Rate 5.85%
NOI $128,477
Occupancy 100%
Pro-Forma Cap Rate 8.01%
Pro-Forma NOI $175,895
Price per SqFt $398
Class C
Year Built 1910
Year Renovated 2000
Buildings 2
Stories 2
Lot Size (SqFt) 6,500
Investment Type Stabilized

Multifamily | 9 Units | $243,889/unit

Marketing description

Introducing 6446-6452 Colby Street, a 9-unit multifamily property located at the northern edge of the Rockridge neighborhood, bordering Berkeley's Elmwood neighborhood. This 1910 vintage building boasts 9 units, consisting of four (4) x 1-bed 1-bath units with a parlor (dining room) measuring approximately 615 Sq. ft.; four (4) x 1-bed 1-bath units of approximately 580 sq. ft. and a non-conforming cottage in the back yard. The units have been meticulously cared for over the years and have received many upgrades upon turnover including: new hardwood floors, countertops and cabinets. The entire property was upgraded to circuit breakers from fuses and also received a new foundation approximately 25 years ago. Located on a quiet street in the desirable Rockridge area, this prime location is an exceptional find for those seeking to add a valuable asset to their real estate portfolio.

Located in the classic Rockridge neighborhood, a prime location for young professionals who can walk to the Rockridge BART as well as local shopping, dining and entertainment. The property enjoys close proximity to the University of California, Berkeley, and the Claremont hotel which has athletic club facilities where the Berkeley Tennis Club plays, both major draws for potential tenants. Residents can also take advantage of the thriving arts and culinary scene, as well as nearby parks and outdoor spaces, creating a desirable lifestyle for prospective tenants. With easy access to public transportation, major freeways and the bustling shops and eateries along College Avenue, this location offers an exciting investment opportunity in a dynamic and desirable community.

Investment highlights

Exceptional Rockridge 9-unit with 6.03% cap rate and 10.49 GRM

Nine desirable 1bd/1ba units, ideally positioned for young professionals and grad students

Individually metered gas and electric utilities

Charming 1910 construction exuding timeless charm

Prime location near Rockridge and Elmwood shopping, dining and entertainment

Walking distance to Rockridge BART and close to major freeways

Listing Contacts

GC
CA CA 01700439
NAI Northern California - HQ
Listed by NAI Northern California - HQ

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$128,477.00
$10,706.42/mo

Valuation Metrics

0
DSCR
5.85%
Cap Rate
5.85%
ROI

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Additional Information

Name
Grant Chappell
License
CA 01700439
Brokerage
NAI NorCal
Title
RE Broker
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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