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3139-3145 West ST
oakland, ca - BROCKHURST
A 4-UNIT Mixed-use INVESTMENT PROPERTY
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ALSO AVAILABLE FOR SALE
Mike Colhoun
mcolhoun@arausa.com
T 415-273-2177
3139-3145 West street
A 4-UNIT MIXED-USE INVESTMENT OPPORTUNITY IN OAKLAND
property information
Investment Highlights
Location Highlights
REO, offering tremendous upside
Less than ½ mile to Macarthur BART
Seller financing available
Offered at $495,000 at $123,750/unit
Less than 1 mile to Emeryville’s largest employers: Peets, Pixar,
and Novartis
6.8% cap rate, 9.4 GRM on market income
Within minutes of the following national retailers: Best Buy,
Office Depot, Home Depot, Pottery Barn, Ikea, Target, Babies R
Us, and Sports Authority
Property Highlights
Residents are provided easy access to I-80, I-580, and route 24;
all roads are less than 1 mile from the property
5.2% cap rate, 11.1 GRM on current income
Property was rebuilt in 2008
Two commercial units and two large apartments 1(3x1), 1(2x1)
Less than 1 mile to Alta Bates Summit Medical Center and
Kaiser Permanente Medical Center
Emery Station
-Amyris
-Jill
-Whole Foods Regional HQ
-Bayer Healthcare
-Lawrence Berkeley National Lab -Amtrak Capitol Corridor Station
Novartis HQ
Peet’s Coffee HQ
Pixar
East Bay Bridge
Shopping Center
Macarthur BART
ALSO AVAILABLE
867 37th St.
-Best Buy
-Home Depot
-Sports Authority
85
24
3139 – 3145 West St.
Real Estate
Investment Services
280
980
3139-3145 West street
A 4-UNIT MIXED-USE INVESTMENT OPPORTUNITY IN OAKLAND
Site Information
OFFERING SUMMARY
Construction
Total Units
4 (2 commercial, 2 residential)
Construction
Wood frame
Property Address
3139-3145 West Street.,
Oakland, CA 94608
Siding
Wood siding
Roof
Composite shingle
Year Built
1910 (Rebuilt in 2008)
Stairs
Wood interior
Net Rentable SF
4,554 SF
Heating
Wall furnaces
AVG Unit Size
1,114 SF
Hot Water
2 individual heaters
Property Size
0.11 Acres
Plumbing
Supply lines: Copper
Sewer: Galvanized steel
Price
$495,000
Parcel #
9-713-1
Price Per Unit
$123,750
Parking
4 spots
Price per SF
$119
Cap Rate
5.2% (Current), 6.8% (Market)
GrM
11.1 (Current), 9.4 (Market)
Parking Ratio
1.0 per unit
STORIES
2
Utilities
Electricity
Paid by residents
Propane
Paid by residents
Water & Sewer
Paid by landlord
Trash
Paid by landlord
Unit mix/underwriting
UNIT TYPE
RESIDENTIAL
COMMERCIAL
TOTALS/AVERAGES
UNITS
2
3145 West St
AVERAGE
TOTAL
SF (Est) SF (Est)*
1,172
2,344
2
3145 West St, Oakland,
CA 1,105
2 Residential Units 2 Retail Spaces
4
1,114
% OF Current RENT Current RENT
UNITS
PER MO.
PER SF
50%
$1,185
$1.01
2,210
50%
$666
$0.60
4,554
100%
$926
$0.81
MARKET RENT MARKET RENT
PER MO.
PER SF
$1,375
$1.17
UNDERWRITING
$829
$0.75
$1,103
$0.97
VALUATION
*Square footage estimates per tax records
PRO FORMA -CURRENT RENTS
PRO FORMA -MARKET RENTS
ACTUAL
PER MONTH
ACTUAL
PER MONTH
INCOME
GROSS POTENTIAL RENT - RESIDENTIAL
GROSS POTENTIAL RENT - RETAIL
GROSS POTENTIAL RENT
Less: VACANCY - RESIDENTIAL
Less: RETAIL VACANCY
TOTAL INCOME
$28,440
$15,990
$44,430
($1,422)
($1,199)
$41,809
$2,370
$1,333
$3,703
($119)
($100)
$3,484
$33,000
$19,890
$52,890
($1,650)
($1,492)
$49,748
$2,750
$1,658
$4,408
($138)
($124)
$4,146
EXPENSES
ADMINISTRATIVE
TURNOVER
REPAIRS & MAINTENANCE
UTILITIES
LANDSCAPING / GROUNDS
TOTAL CONTROLLABLE EXPENSES
INSURANCE
REAL ESTATE TAXES
SPECIAL ASSESSMENTS
TOTAL OPERATING EXPENSES
CAPEX / RESERVES
TOTAL EXPENSES
$1,000
$600
$700
$2,350
$1,200
$5,850
$1,481
$6,958
$1,215
$15,505
$450
$15,955
$83
$50
$58
$196
$100
$488
$123
$580
$101
$1,292
$38
$1,330
$1,000
$600
$700
$2,350
$1,200
$5,850
$1,481
$6,958
$1,215
$15,505
$450
$15,955
NOI AFTER RESERVES
$25,854
$2,154
$33,793
VALUATION SUMMARY
LIST PRICE
PRICE PER UNIT
PRICE PER S.F.
CAP. RATE
GROSS RENT MULTIPLIER
% GPR
-5.0%
-7.5%
1.41%
% GPR
-5.0%
-7.5%
1.41%
$83
$50
$58
$196
$100
$488
$123
$580
$101
$1,292
$38
$1,330
$2,816
PRO FORMA -CURRENT RENTS
PRO FORMA -MARKET RENTS
$495,000
$123,750
$119
5.2%
11.1
$495,000
$123,750
$119
6.8%
9.4
3145 West St
RENT COMPARABLES
3145 West St, Oakland, CA
2 Residential Units 2 Retail Spaces
Rental comparables
3145
West St
RENT COMPARABLES
RENT COMPARABLES
3145 West St, Oakland, CA
REsidential
cOMPARABLES
2 Residential Units 2 Retail Spaces
S
Pic
Comp #
Location
1
1324 Fitzgerald St
RENT COMPARABLES
2
1220 30th St
3 #
845 37th St
Comp
Location
37th StSt
14
1324 947
Fitzgerald
Comp2Totals/Avgs.
1220 30th St
Subject
3145
West
3
845
37th
St St
5
3321
Chestnut
St
4
947 37th St
828 32nd St
Comp 6Totals/Avgs.
Subject
3145
7
695West
33rdStSt
58
3321 675
Chestnut
31st StSt
6
828
32nd
St
Comp Totals/Avgs.
7
695
33rd
St St
Subject
3145
West
8
675 31st St
Comp Totals/Avgs. 1
Subject
3145 West St
9
3600 San Pablo Ave
10
3501 San Pablo Ave
Comp Totals/Avgs.
Subject
3145 West St
Unit Type
3 BR x 1 BA
3 BR x 1 BA
3 BR
x 1 BA
Unit
Type
3 BR
1 BA
3 BR
x 1 xBA
3 BR
1 BA
3 BR
x 1 xBA
3 BR
1 BA
3 BR
x 1 xBA
2 BR
1 BA
3 BR
x 1 xBA
2 xBR1 xBA
1 BA
3 BR
3 BR2 xBR
1 xBA
1 BA
2 BR
x
1
BA
2 BR x 1 BA
2 BR
x 1 xBA
2 BR
1 BA
2 BR
x 1 xBA
2 BR
1 BA
2 BR x 1 BA
22 BR x 1 BA
2 BR x 1 BA
Retail
Retail
Retail
Retail
Retail COMPARABLES
S
1
1
2
2
Rent
Notes
$1,695 Brand new carpet, flooring, stainless steel appliances, 1 parking space
$1,450 Large unit in duplex with shared backyard, no parking
Lower unit Notes
in duplex with large shared yard, new tile, hardwood floors
$1,900 Sqft
Rent
Unit in
duplex,
parking,
$1,8501,393
Brand
newno
carpet,
flooring, stainless steel appliances, 1 parking space
$1,695
$1,724
$1,450
Large unit in duplex with shared backyard, no parking
$1,450
$1,900
Lower unit in duplex with large shared yard, new tile, hardwood floors
$1,195
New
paint,
hardwood
floors, granite countertops, new cabinets
$1,850
1,156 Unit
in duplex,
no parking,
$1,3501,275
Granite countertops, in-unit washer/dryer, 2 car parking
$1,724
$1,450
$1,750 1,172
Vintage unit in Victorian duplex with large yard
$1,195
New
paint,
hardwood
floors, granite countertops, new cabinets
$1,450 Unit in
4-plex
with
shared parking
$1,350
Granite
countertops,
in-unit
washer/dryer, 2 car parking
$1,432
$1,750
Vintage unit in Victorian duplex with large yard
$1,300
$1,450
Unit in 4-plex with shared parking
4
$1,432
$0.00
$1,300
$3,600
1,200
$36/SF/YR
Old restaurant. Vacant.
$1,442
961
$18/SF/YR
Divisible spaces in California Hotel. Historic property.
$2,521
1,081
$27.00
$1,658
1,105
$18.00
3
3
4
5
4
S
123750
6
7
8
9
10
123750
rental comparables map
947 37th St
$1,850 | 3x1 4
3600 San Pablo Ave
$3,600 | Retail
9
1324 Fitzgerald St
$1,695 | 3x1
1
845 37th St
$1,900 | 3x1 3
3501 San Pablo Ave
$1,442 | Retail
10
3321 Chestnut St
$1,195 | 2x1
5
1220 30th St
$1,450 | 3x1
2
828 32nd St
$1,350 | 2x1 6
3145 West St
$1,450 | 3x1
$1,300 | 2x1
$1,665 | Retail S
695 33rd St
$1,750 | 2x1 7
675 31st St
$1,450 | 2x1 8
property information
3145 West St
3145 West St, Oakland, CA
2 Residential Units 2 Retail Spaces
demographics
rent roll
VALUATION
1 Mile
3 Mile
5 Mile
Radius
Radius
Radius
Unit
Unit Type
Sq Ft*
Population
38,893
230,367
473,545
Households
17,805
106,014
198,915
3143
3145
$45,564
$69,345
$75,986
Average Household Size
2.07
2.11
2.28
2 BR x 1 BA
3 BR x 1 BA
AVERAGE
TOTAL
1,172
1,172
1,172
2,344
Owner Occupied Housing Units
3,420
34,531
75,402
Renter Occupied Housing Units
14,385
69,668
120,567
Unit
Tenant
Sq Ft
3139
3141
Vacant
Quality Fine Foods
AVERAGE
TOTAL
1,105
1,105
1,105
2,210
Summary
Average Household Income
*Source ESRI 2012
Location Highlights
Less than ½ mile to Macarthur BART
Less than 1 mile to Emeryville’s largest employers: Peets, Pixar, and
Novartis
Within minutes of the following national retailers: Best Buy, Office Depot,
Home Depot, Pottery Barn, Ikea, Target, Babies R Us, and Sports Authority
RESIDENTIAL UNITS
RETAIL UNITS
Current Asking
Market
Actual Rent
Rent
Rent
$1,070
$1,300
$1,185
$2,370
$1,070
$1,300
$1,185
$2,370
$1,300
$1,450
$1,375
$2,750
Current Asking
Market
Actual Rent
Rent
Rent
$553
$0
$553
$780
$780
$1,105
$666
$390
$829
$1,333
$780
$1,658
*SF has been estimated based on total building sq. ft.
3703
0.813131313
0.750226244
4564
1141
$926
$1,139
#NAME?
4408 0.967940272
Residents are provided easy access to I-80, I-580, and route 24; all roads
are less than 1 mile from the property
Less than 1 mile to Alta Bates Summit Medical Center and Kaiser
Permanente Medical Center
3139-3145 West street
A 4-UNIT MIXED-USE INVESTMENT OPPORTUNITY IN OAKLAND
EAST BAY
More information is available on our website at:
www.arausa.com/norcal
www.arausa.com
© ARA. All Rights Reserved
Mike Colhoun
mcolhoun@arausa.com
T 415-273-2177
License CA 01464496
Cynthia Tsai
Investment Analyst
ctsai@arausa.com
T 415-430-1051
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