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Investment @property Directory

Property for Sale » United States » California » Oakland » Sobrante Park

$120,000 in equity in Oakland, CA

Residential Income Property (Fourplex)

Listing Expired almost 3 years ago

List Price:

$238,000

XXXX Catron Ct.
Oakland, California 94603 Get Map


Built 1963
Posted March 23, 2009



Description:

Watch Video at: http://motivatedproperties.com

After Repaired Value: $375,000
LTV – including rehab: 67%
Rehab: $8,000 – $12,000
CAP Rate: ~ 15%

Recent "as-is" appraisal: $350,000 Zillow value: $450,000 Sold in 2006: $630,000 Assessed value: $655,000 Solid working class rental neighborhood. Inside looks great. Vacant property, graffiti on exterior. Taxes are assessed at $630,000. Buy and get taxes reduced by 60%. Even with rehab costs, you’re looking at a 15% CAP rate!