633 Clara Street in Oakland presents an excellent opportunity for an investor or owner-occupant to purchase a four-unit apartment building with tremendous upside in future income. Built in 1963, the 3,234 square foot property offers four (4) Two-Bedroom/One-Bath units and sits on an oversized 6,640 square foot lot. New ownership could increase property value with the construction of a ADU unit on the vacant portion of the lot with approval by the city. Maintenance is low and all units are separately metered for PG&E providing lower annual expenses. The property is currently 100% occupied and all tenants are paying full rent.Unit 3 has been totally renovated. Unit 4-new kitchen and bathroom in 2020. New roof in 2017. Ability to capture 35% upside in rent upon unit turnover and renovation.Individually metered electric and gas meters reduce overall operating expenses and recent renovations/capital improvements will mitigate operating expenses and future costs to the new owner.
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