5918 Genoa St, Oakland, CA 94608
5918 Genoa St, Oakland, CA 94608
5918 Genoa St, Oakland, CA 94608
5918 Genoa St, Oakland, CA 94608
5918 Genoa St, Oakland, CA 94608
5918 Genoa St, Oakland, CA 94608
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Jeffrey Walker

Jeffrey Walker

+1(949) 903-3731
$ 1,950,000
Est. payment | /mo

5,201 Sqft Lot

Save
$ 1,950,000
Est. payment | /mo
Save

5,201 Sqft Lot

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Subdivision North Oakland

MLS Listing ID 41151546

HOA Y/N No

Year Built 1930

Annual Tax Amount $35,665

Lot Size 5,201 Sqft

Property Description

5918 Genoa Street offers 22.6% rental upside on a building where the heavy capital work is already done. Ownership has invested $282,822 in unit renovations, soft-story retrofit, sewer lateral, sidewalk, and laundry. Eight of 12 units are renovated, and the property is 100% occupied. In-place rents average $1,428 against a $1,750 market rent. The building's own renovated leases support that market figure, with five units at $1,632–$1,730. Four units below $1,300 account for roughly three-quarters of the loss-to-lease. That gives a buyer a defined, unit-by-unit path to the $153,000 pro forma NOI as those units turn over. The 1930 building totals 6,072 SF on 0.12 acres, with an average unit size of 506 SF and three covered parking spaces. In-place: $109,543 NOI, 5.62% cap rate, 9.48 GRM. Pro forma at market rents: $153,000 NOI, 7.85% cap rate, 7.74 GRM.

Location

State CA

County Alameda

Interior

Heating Natural Gas, Wall Furnace

Cooling None

Fireplace No

Appliance Gas Water Heater, Dryer, Washer

Exterior

Roof Type Composition

Total Parking Spaces 3

Building

Lot Description Street Level

Others

Tax ID 15135319

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Joseph Owens Marcus & Millichap #01707768

Nearby Locations

Jeffrey Walker

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(949) 903-3731

jeffrey@walkerpropertygroupca.com

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5918 Genoa St

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