Development opportunity in Oakland Historic District, with tons of new activity happening. The front structure is a fire damaged duplex; with an overlay for 5 units total. Rear units would be newly constructed studios or 1bds. The estimated rent analysis is that 5 units will bring in over 6K per month.The estimated cost of construction to be between 300K - 350K based on finishes.Based on the income of 6K per month with a 15% load, this property completed is estimated to be worth 1 to 1.2 Million based on a 6% cap with a newly constructed back units and a repaired front duplex.Seller is owner/ builder and willing to complete the project on a cost plus if buyer is interested in obtaining plans and construction services.Private financing is available!
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