Keller Williams is pleased to be retained as the exclusive broker for the Fruitvale Complex Apartments. The subject property is a forty-four (44) unit property in the desirable Fruitvale neighborhood. The 1811 27th Ave property is located a short distance from the Fruitvale Transit Station BART Village. The Fruitvale Transit Station BART Village which was completed in 2006 includes 288 new residential units, 114,000 square feet of community services (clinic, library, and senior center) and office space and 45,000 square feet of retail space. This project immediately transformed the neighborhood into a bustling, vibrant destination within the greater neighborhood. 

Built in 1950, 1811 27th Ave presents a three-story walk-up structure with private entrances for some residences. The building was substantially renovated in 1988 following a major fire that gutted the interior of the space. When it was rebuilt, the building was upgraded with copper plumbing, Romex wiring, fire sprinklers and a central fire alarm. The building is built of wood frame construction with a stucco exterior. The building is built of wood frame construction with a stucco exterior and contains approximately 24,275 square feet of gross building area set on 0.22 acres.

The unit mix consists of five (4) studios averaging 430 square feet, thirty-six (36) one-bedroom / one-bath unit averaging 471 square feet, three (3) two-bedroom / one-bath units averaging 608 square feet and one (1) three-bedroom / two-bath unit of approx. 1000 square feet. The majority of the units have been updated and feature kitchen upgrades such as granite countertops, new cabinetry and Pergo floors. The ranges, ovens and frost-free refrigerators are all electric. The units feature a mix of tile and Pergo flooring throughout the living areas. Bathrooms contain small vanities, tiled and laminate floors, wall-mounted cabinets and shower enclosures. 

Heat is provided to the units via electric wall mounted heaters. The units are entirely electric and metered separately while water is master metered. The gas meter supplies the newly replaced highly efficient water heater for the building. The roof is a torch down mastic construction of unknown age. Management resurfaces the entire roof biannually with elastomeric sealer. The current owner recently invested significant capex which includes the replacement of nearly all the aluminum windows with double-paned vinyl windows and a new one-hundred-gallon water heater to services the building. On-site location and hookups for washers and dryers already exist which presents a future owner with the possibility for immediate value-add potential. Street parking is readily available in the surrounding neighborhood.

The Fruitvale Complex Apartments offer investors the opportunity to acquire a well-situated property with little deferred maintenance and significant upside (18.64%) in a great Oakland location. The Fruitvale neighborhood is one of the strongest rental housing submarkets in Oakland. Located just off I-880 & I-580 and approximately one-half mile from Fruitvale BART, the property will attract commuters as well as those who work in the area Due to the property’s excellent location, large size, and overall quality, the property will continue to produce strong cash flow well into the future.