Nice Cash Flow Triplex in E Oakland

[J. Martin]

464 Douglas Ave, Oakland. Short Sale. Been on market 66 days, and just reduced list from $282K to $252K. Two buildings. 3 units. 2/1 for all. Total rents now are $2,375, a bit below the 1% rule. Market rents are about $3,900, or over 1.5% of the price after a little "E Oakland" rehab... It takes time to get from point A to point B, but there's money there...

$252K list
$2,375 current rents
$3,900 market rents

I was in contract on 2 duplexes about 2 blocks away from this property, and I don't think the neighborhood is as bad as the map belies.. Close to major artery and 880 freeway. But not right on major street. The train tracks are a few blocks away. Mostly blue-collar tenants. Mostly African-American and latino.

I own another 4plex about a mile from here on 82nd Ave that gets over $5k/mo that I got into w/ rehab for $430K, and found good tenants.. (relative to what you would expect in E Oakland.. These aren't Apple employees..)

There is a showing this Sat, 10/4, from 11AM - 11:30AM. I'm going to go check it out. So if you're in San Jose, San Francisco, Fremont, Walnut Creek, and want to check out a little potential cash flow property, email or call me, or just drop in and I'll see you there!