Casa Madrone 1937 26th Ave Oakland, CA 94601

Casa Madrone1937 26th Avenue Oakland, CA 94601IntroducingBelow Market Price: $1,995,000 Located in the Nations Fastest Growing Rental Market30%+ Upside or $74,000 in the Annual RentsExisting GRM- 11.43; Market GRM- 8Existing Cap- 4.8%; Market Cap- 8.1%Existing Cash on Cash 3.0%; Market Cash on Cash 12%Most units have been renovatedHot and thriving Fruitvale NeighborhoodClear Section 1 and Section 2 Pest ClearancesGreat Add Value Investment

For more information about this fabulous opportunity:Please call Fred Lewis at (209) 522-9999Visit us @ www.hotdealsoakland.comOr email info@hotdealsoakland.com

Casa Madrone1937 26th Avenue Oakland, CA 94601Complex Description:Easy to run 17-unit apartment building in Fruitvale District, an emerging location of Oakland block from Foothill Blvd that is close to public transportation, schools, shopping, and freeway access. This building has been tastefully painted with Bob Buchter color consulting, and most units have been rehabilitated. This 7,077 square foot 17-unit multi-family apartment complex built in 1928 sits on a 5,000 square foot lot. Nearby schools include World Academy, Achieve Academy and Urban Promise Academy. The closest grocery stores are A & A Corner Market, Sath Bunthan and Mi Carnal. Nearby coffee shop include Kellys Kafe, Sticky Rice Caf and Bakeshop Oakland. Nearby restaurants include Tacos El Grullo, Tacos Alonzo and Pizza City. 1937 26th Avenue is near Garfield Park, Josie de la Cruz Park and Patten University. There are some bike lanes and the terrain is flat as a pancake. 1937 26th Avenue is bikeable, as there is some bike infrastructure. With over 80% of the units completely renovated and major exterior improvements, 1937 26th Avenue offers an investor a turn key community that will continue to increase in value, due to the nearly 30% gap between the current NOI and pro forma NOI. This attributes to a possible 3% existing and 12% market cash on cash return.Pest clearance: There is a clear Section 1 and Section 2 Pest Clearance on the subject property. The property is clean as a whistle.Complex Location: Fruitvale District is one of the major retail and commercial communities of Oakland. The Fruitvale District is the home to hundreds of local Oakland businesses and the host of many cultural events. In addition, the Fruitvale District is the most racially, ethnically and culturally diverse population in Oakland, which is one of the most diverse cities in California and the nation. The Fruitvale District is becoming a Neighborhood of Choice as it is now more physically attractive, economically vibrant and livable. Perfect for commuters, the property sits within close proximity to the Bay Areas major transportation arteries 880 and 580, offering direct access to San Francisco, Sacramento, Walnut Creek and Silicon Valley. In addition, 1937 26th Avenue lies just 1.5 miles from the Fruitvale BART Station. HOTTEST APARTMENT MARKET IN THE COUNTRY: The Bay Area continues to lead the nations apartment market in rent growth. According to MPF Research, during the first quarter of 2015, Oakland saw year-over-year rent growth of 14.1%, followed by San Jose at 13.1%, and San Francisco ranked 5th at 10.6%.COMPELLING MULTIFAMILY FUNDAMENTALS: There are high barriers to entry and few large sites for development in the Downtown Oakland region. Vacancy rates in the area remain at historic lows below 3%, and rental rates throughout this sub-market. Commission:Owner is a Principal and not a Broker. A selling commission of $60,000 will be paid for the procurement and actual consummation of the transaction. If a buyer is procured and the sale is not consummated for any reason a commission will not be due or paid.Since owner has not owned property stabilized for more than 1 year, the above income and expenses are only estimates. Although the information contained herein is deemed reliable, no representations of any kind, expressed or implied, are being made as to the accuracy of such information. All of the data in this prospectus are estimates and approximations to include square footage. Any prospective purchaser and their tax and legal advisor should carefully verify all information contained herein and conduct an independent investigation. Seller bears no liability of any errors, inaccuracies or omissions. Down Payment:$800,000Market Cash on Cash:12.0%Capitalization Rate:4.6%Market Cap. Rate:8.1%Gross Rent Multiplier:11.43%Market GRM:8.05%Price per Square Foot:$281.90Cost per Unit:$117,000Price:$1,995,000Assessors Parcel Numbers 26-737-3 About Oakland, CaliforniaOakland is the seventh largest city in the state of California with a population of 400,000 people and covers 54 square miles. Oakland has had a rent increase of 11.6% with a vacancy rate of 1.7%. The current median monthly rent for Oakland is $2,017.50 Oaklands rent increase has been partially fueled by renters priced out of the San Francisco rental market.

Oakland is a major West Coast port, and there are nearly 200,000 jobs related to marine cargo transport. These jobs range from minimum wage hourly positions to Transportation Storage and Distribution Managers who earn an annual average salary of $91,520. Forbes Magazine listed Oakland as one of the Top 10 Places for business and employment.

The city is home to several major corporations including Matson, Kaiser Permanente and Clorox, as well as corporate headquarters for national retailers like Dreyers and Cost Plus World Market. Tech companies such as Ask.com and Pandora Radio are located in Oakland, and in recent years many start-up high tech and green energy companies have found a home in the downtown neighborhoods of Uptown, City Center, Jack London Square and Lake Merritt Financial District. The Port of Oakland is one of the five largest container ports in North America and one of the top 20 worldwide. Oakland is the only city in California with three professional sports teams: the Oakland Raiders, the Oakland Athletics, and the Golden State Warriors.

Recently ranked by Movoto.com, Oakland is one of the most exciting cities in America on its roster of the The 10 Most Exciting Cities in America. According to the New York Times. Oakland ranked as the 5th most desirable destination to visit this year in The 45 Places to Go. In the past decade, Oakland has ranked among the top cities for business in Forbes and other publications. As part of the ninth largest regional economy in the United States with a Gross Regional Product exceeding $200 billion, Oakland boasts a strong and diverse business environment. This diversity allows Oakland to remain stable even during economic downturns.

The Gross Metropolitan Product (GMP) for Oakland ranks in the top 20 metropolitan economies in the United States and among the top 60 in the world. Oaklands GMP ranks higher than the GMP for San Jose, St. Louis, Sacramento, Pittsburgh and Cleveland and also exceeds the Gross National Product of Hungary, Columbia, Singapore and the Philippines. Oaklands GMP also eclipses the Gross State Product of Nevada, Oklahoma and Kansas.

In recent years, Oakland has gained national recognition as a travel destination. In 2012, Oakland was named the top North American city to visit, highlighting its growing number of sophisticated restaurants and bars, top music venues, and increasing nightlife appeal. Oakland also took the No. 16 spot in Americas Coolest Cities, ranked by metrics like entertainment options and recreational opportunities per capita, etc. In 2013, Oakland topped the No. 1 spot in Americas Most Exciting Cities, notably having the most movie theaters, theater companies, and museums per square mile. In Americas Most Hipster Cities, Oakland took the No. 5 spot, cited for luring San Francisco hippies into the city.

Since owner has not owned property stabilized for more than 1 year, the above income and expenses are only estimates. Although the information contained herein is deemed reliable, no representations of any kind, expressed or implied, are being made as to the accuracy of such information. All of the data in this prospectus are estimates and approximations to include square footage. Any prospective purchaser and their tax and legal advisor should carefully verify all information contained herein and conduct an independent investigation. Seller bears no liability of any errors, inaccuracies or omissions. Put in all Oakland 5Annual Property Operating DataPURPOSE:Property AnalysisPRICE:$1,995,000 NAME:Casa MadroneDown Payment:$800,000 LOCATION:1937 26th Avenue Oakland, CA 94601TYPE OF PROPERTY:(16) Large Studios / (16) Large 1 BedroomsASSESSED APPRAISED VALUESLAND:$400,000 IMPROVEMENTS:$1,575,000 PERSONAL PROPERTY:$20,000TOTAL$1,995,000 PROPOSED: 1ST 60% LTV $ 1,195,000.00 @ 3.85% 30 Years $ 5,611.00 Monthly Payment EXISTINGMARKETGROSS RENTAL INCOME$172,680 $246,180 Vacancy (3%)($5,234)($7,439)Laundry$1,800 $1,800 TOTAL GROSS OPERATING INCOME$169,246 $240,541 LESS OPERATING EXPENSESProperty Insurance$4,433 $4,433 Real Estate Taxes (Based on $1,995,000 Value) $28,680 $28,680 Business Tax 1.39%$2,138 $2,138 Resident Manager$8,400 $8,400 Repairs & Maintenance$6,000 $6,000 Rap Fee$480 $480 SERVICESRubbish$4,924 $4,924 Pest Control$2,400 $2,400 UTILITIESElectric & Gas$11,008 $11,008 *Water & Sewer$8,666 $8,666 Telphone$600 $600 TOTAL OPERATING EXPENSES$77,729 $77,729 NET OPERATING INCOME$91,517 $162,812 LESS: TOTAL ANNUAL DEBT SERVICE$67,332 $67,332 CASH FLOW $24,185$95,480 Special Note*Currently there are 16 electric meters in the building but are not connected. There is a process with PG&E to reconnect them to upgrade the service which I have not pursued.Since owner has not owned property stabilized for more than 1 year, the above income and expenses are only estimates. Although the information contained herein is deemed reliable, no representations of any kind, expressed or implied, are being made as to the accuracy of such information. All of the data in this prospectus are estimates and approximations to include square footage. Any prospective purchaser and their tax and legal advisor should carefully verify all information contained herein and conduct an independent investigation. Seller bears no liability of any errors, inaccuracies or omissions. Summary Rent Roll1937 26th Avenue Oakland, CA 94601UnitUnitMove InCurrentMarket#MixDateRentRent1Studio5/15/2015 $ 995 $ 1,195 2Studio9/11/2012 $ 750 $ 1,195 3Studio5/7/2015 $ 995 $ 1,195 4Studio3/2/2015 $ 850 $ 1,195 5Studio2/3/2014 $ 750 $ 1,195 6Studio7/16/2012 $ 675 $ 1,195 7Studio7/18/2013 $ 775 $ 1,195 8Studio9/11/2013 $ 775 $ 1,195 9Studio7/16/2012 $ 675 $ 1,195 10Studio5/30/2015 $ 995 $ 1,195 11Studio7/16/2012 $ 650 $ 1,195 12Studio7/16/2012 $ 650 $ 1,195 13Studio7/2/2015 $ 995 $ 1,195 14Studio7/27/2013 $ 775 $ 1,195 15Studio8/5/2015 $ 995 $ 1,195 16Studio6/6/2015 $ 995 $ 1,195 17*1/1.06/3/2015 $ 1,095 $ 1,395 LaundryLaundry $ 150 $ 150 17UnitsMonthly $ 14,540 $ 20,665 Annually $ 174,480 $ 247,980 Property BreakdownProperty Value: $ 1,995,000 =$117,353 Per Unit Property Sq Ft:7,077 =$281.90 Per Sq Ft Existing GRM:11.43Market GRM:8.05Existing Cap:4.6Market Cap:8.1Existing Cash on Cash:3%Market Cash on Cash:12%Upside in Rents:30%*Apartment 17 is a non-Conforming unit.Since owner has not owned property stabilized for more than 1 year, the above income and expenses are only estimates. Although the information contained herein is deemed reliable, no representations of any kind, expressed or implied, are being made as to the accuracy of such information. All of the data in this prospectus are estimates and approximations to include square footage. Any prospective purchaser and their tax and legal advisor should carefully verify all information contained herein and conduct an independent investigation. Seller bears no liability of any errors, inaccuracies or omissions. Sale ComparablesSubject Property Address# of UnitsUnit Mix Sales Price Cost Per Unit Building Size Cost Per Foot GRM CAPClose of Escrow1937 26th Avenue Oakland, CA 946011716-S/1 1-1/1$1,995,000$117,353 7,077 $ 281.90 11.434.6%TBA550 Fairmont Avenue106-1/1 4-2/1$1,800,000$180,000 6,632 $27114.843.3%Active500 Zorah Street137-s/1 6-1/1$2,265,000$174,231 7,393 $30612.004.6%3/26/2015285 Fairmont Avenue2121-1/1$3,150,000$150,000 12,075 $26114.733.0%Active1810 E 25th Street238-1/1 14-2/1 1-3/1$3,425,000$148,913 12,608 $2726.2%7/9/2015NorthGate Terrance Senior Community 550 24th Street Oakland, CA201108- S/1 21 - 1/1 $ 27,500,000 $ 136,816 113,960 $2415/14/2015870 31st Street77-2/1$936,000$133,714 5,056 $1859.895.8%12/31/20143020 35th Avenue182-1/1 16-2/1$2,280,000$126,667 13,959 $1637/16/2015949 35th Street108-1/1 2-2/1$1,150,000$115,000 4,416 $26010.226.0%TBA2600 International Blvd.24$2,410,000$100,417 12,158 $1988.906.7%6/25/201521659 Montgomery Street Hayward, CA 5050-1/1 $ 5,000,000 $ 100,000 33,111 $1511.1%Active2912 14th Avenue1814-1/1 4-2/1$1,800,000$100,000 12,079 $1492/27/20151921 26th Avenue1812-1/1 6-2/1$1,800,000$100,000 10,341 $1749.26.1%10/22/20142575 Fruitvale Avenue8-$767,500$95,938 4,752 $16210.005.7%5/29/2015Since owner has not owned property stabilized for more than 1 year, the above income and expenses are only estimates. Although the information contained herein is deemed reliable, no representations of any kind, expressed or implied, are being made as to the accuracy of such information. All of the data in this prospectus are estimates and approximations to include square footage. Any prospective purchaser and their tax and legal advisor should carefully verify all information contained herein and conduct an independent investigation. Seller bears no liability of any errors, inaccuracies or omissions. Rent ComparablesSurveyed Property Studio1 BedroomsIn the vicinity of1937 26th AveOakland, CA 94601$650-1,095$1,0952912 14th Avenue #108 Oakland CA 94606$1,4003513 Lincoln Avenue Oakland CA 94602$1,3951907 E. 30th Street Oakland CA $1,2751907 E 30th Street Oakland, CA$1,2751929-1937 E 29th Street Oakland, CA$9272924 14th Avenue Oakland, CA$9223232 14th Avenue Oakland CA 94602$1,5753230 14th Street Oakland CA 94601$1,5501930 E 27th Street Oakland, CA$1,5232029 E. 20oth Street Oakland CA 94606$1,5002800 21st Avenue Oakland, CA$1,5001715 High Street Oakland, CA 94601$1,4481637 33rd Avenue Oakland, CA$1,4251811 27th Avenue Oakland, CA 94601$1,4005549 Foothill Avenue Oakland, CA $1,3502626 High Street Oakland, CA $1,3252543 E. 16th Street #5 Oakland CA 94601$1,3001951 E 30th Street Oakland, CA$1,2051810 E 25th Street Oakland, CA$1,1412382-2396 Grande Vista PL, Oakland, CA$1,080Since owner has not owned property stabilized for more than 1 year, the above income and expenses are only estimates. Although the information contained herein is deemed reliable, no representations of any kind, expressed or implied, are being made as to the accuracy of such information. All of the data in this prospectus are estimates and approximations to include square footage. Any prospective purchaser and their tax and legal advisor should carefully verify all information contained herein and conduct an independent investigation. Seller bears no liability of any errors, inaccuracies or omissions.

Rent Data for Oakland by Zip Code and Unit TypeSince owner has not owned property stabilized for more than 1 year, the above income and expenses are only estimates. Although the information contained herein is deemed reliable, no representations of any kind, expressed or implied, are being made as to the accuracy of such information. All of the data in this prospectus are estimates and approximations to include square footage. Any prospective purchaser and their tax and legal advisor should carefully verify all information contained herein and conduct an independent investigation. Seller bears no liability of any errors, inaccuracies or omissions.

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