Alex LinInvestment Analyst
O: 415.813.5871M: 626.348.9192
Max RattnerInvestment Advisor
O: 415.230.0999M: 650.248.4342
[email protected] #02081586
Tim WarrenVice President
O: 510.336.4719M: 707.363.2463
[email protected] #02008347
Kent MitchellSenior Vice President
O: 510.548.2554M: 510.919.4919
[email protected] #01784628
Offering Memorandum
Blake Manor570 Boden WayOakland, CA 94610
nainorcal.com 2
Blake Manor570 Boden Way
Oakland, California 94610
The information contained in the following Investment Summary is proprietary and strictly confidential. It is
intended to be reviewed only by the party receiving it from NAI Northern California Investment Real Estate
Brokerage and should not be made available to any other person or entity without the written consent of Broker.
This Investment Summary has been prepared to provide summary, unverified information to prospective
purchasers, and to establish only a preliminary level of interest in the subject property. The information contained
herein is not a substitute for a thorough due diligence investigation. Broker has not made any investigation, and
makes no warranty or representation, with respect to the income or expenses for the subject property, the future
projected financial performance of the property, the size and square footage of the property and improvements,
the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal
regulations, the physical condition of improvements thereon, or the financial condition or business prospects of
any tenant, or any tenant’s plans or intentions to continue occupancy of the subject property.
The information contained in the Marketing Brochure has been obtained from sources we believe to be reliable;
however, Broker has not verified, and will not verify, any of the information contained herein, nor has Broker
conducted any investigation regarding these matters and makes no warranty or representation whatsoever
regarding the accuracy or completeness of the information provided. All potential purchasers must take
appropriate measures to verify all of the information set forth herein.
Kent MitchellO: 510 548 [email protected] CalDRE #01784628
Tim WarrenO: 510 336 [email protected] CalDRE #02008347
Max RattnerO: 415 230 [email protected] CalDRE #02081586
Alex LinO: 415 813 [email protected]
For More Information:
Confidentiality & Disclosure
Blake Manor570 Boden Way, Oakland, CA 94610
Table of Contents
4 Section 1Property Information
7 Section 2Location Information
10 Section 3Financial Analysis
15 Section 4Demographics
Table Of Contents
Blake Manor570 Boden Way, Oakland, CA 94610
Section 1
PROPERTYINFORMATION
1
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STATS POPULATION AVG. HHINCOME
0.5 MILES 13,820 $73,223
1 MILE 57,175 $70,279
1.5 MILES 101,955 $71,964
DEMOGRAPHICS
* Figures shown represent estimates
SALE PRICE: $4,500,000
PRICE/UNIT: $500,000
PRICE/SF: $366
NUMBER OF UNITS: 9
CAP RATE: 4.24%
GRM: 14.4
MARKET CAP RATE: 5.72%
MARKET GRM: 11.80
NOI: $190,729
LOT SIZE: 14,000 SF
BUILDING SIZE: 12,294 SF
YEAR BUILT: 1960
Executive Summary
Blake Manor570 Boden Way, Oakland, CA 94610
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Additional Photos
Blake Manor570 Boden Way, Oakland, CA 94610
Section 2
LOCATIONINFORMATION
2
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Location Maps
Blake Manor570 Boden Way, Oakland, CA 94610
Aerial Map
Blake Manor570 Boden Way, Oakland, CA 94610
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Section 3
FINANCIALANALYSIS
3
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Investment Overview CURRENT MARKET
Price $4,500,000
Number of Units 9
Price per Unit $500,000
Approximate Square Footage 12,294
Price per Square Footage $366
GRM 14.40 11.80
CAP Rate 4.24% 5.72%
Operating Data CURRENT MARKET
Gross Scheduled Income $312,408 $381,288
Vacancy Cost (3.0%) - $9,372 - $11,438
Gross Operating Income $303,035 $369,849
Operating Expenses - $112,306 - $112,306
Net Operating Income $190,729 $257,543
Debt Service - $150,049 - $150,049
Pre-Tax Cash Flow $40,680 $107,494
Cash-on-Cash Return % (yr 1) 2.26% 5.97%
Principal Reduction (yr 1) + $49,646 + $49,646
Total Return (yr 1) $90,327 $157,140
Return on Investment % 5.02% 8.73%
Financial Summary
Blake Manor570 Boden Way, Oakland, CA 94610
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Financing Data CURRENT
Loan Amount $2,700,000
LTV 60.00%
Interest Rate 3.750%
Debt Service $150,049
Debt Service Monthly $12,504
Amortization 30
Financial Quote
Blake Manor570 Boden Way, Oakland, CA 94610
UnitNumber
UnitBed
UnitBath
UnitSize (SF)
CurrentRent
CurrentRent (Per SF)
MarketRent
MarketRent/SF
#1 2 2 1,320 $2,136 $1.62 $3,500 $2.65
#2 2 2 1,320 $2,020 $1.53 $3,500 $2.65
#3 2 2 1,320 $1,724 $1.31 $3,500 $2.65
#4 (Vacant) 2 2 1,320 $3,500 $2.65 $3,500 $2.65
#5 2 2 1,320 $2,780 $2.11 $3,500 $2.65
#6 2 2 1,320 $3,100 $2.35 $3,500 $2.65
#7 (Vacant) 2 2 1,320 $3,500 $2.65 $3,500 $2.65
#8 (Vacant) 2 2 1,320 $3,500 $2.65 $3,500 $2.65
#9 (Vacant) 2 2 1,320 $3,500 $2.65 $3,500 $2.65
Laundry $94 $94
Parking $180 $180
Totals/Averages 11,880 $26,034 $2.19 $31,774 $2.65
Rent Roll
Blake Manor570 Boden Way, Oakland, CA 94610
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Fixed Expenses Expense Expense / Unit % Of Total % Gross Notes
Property Tax $61,596 $6,844 54.85% 20.33% 1.3688%
Special Assessments $4,118 $457 3.67% 1.36% 19-20 Actual
Insurance $5,362 $595 4.77% 1.77% 2019 Actual
TOTAL FIXED EXPENSES $71,076 $7,897 63.29% 23.45%
Operational Expenses:
Maintenance $4,500 $500 4.01% 1.48% Est $500/unit
Janitorial Service $6,000 $666 5.34% 1.98% 2019 Actual
Elevator Service $1,260 $140 1.12% 0.42% 2019 Actual
Reserves $1,800 $200 1.6% 0.59% Est $200/unit
AT&T $455 $50 0.41% 0.15% 2019 Actual
PG&E $3,130 $347 2.79% 1.03% 2019 Actual
Water $3,433 $381 3.06% 1.13% 2019 Actual
Refuse $4,695 $521 4.18% 1.55% 2019 Actual
Business License $3,055 $339 2.72% 1.01% 2019 Actual
Rent Board $909 $101 0.81% 0.3% $101/unit
Management $11,993 $1,332 10.68% 3.96% Est 4%/gross
TOTAL OPERATIONAL EXPENSES $41,230 $4,581 36.71% 13.61%
TOTAL EXPENSES: $112,306 $12,478 100% 37.06%
Expenses Sheet
Blake Manor570 Boden Way, Oakland, CA 94610
Section 4
DEMOGRAPHICS
4
* Demographic data derived from 2010 US Census
Population 0.5 Miles 1 Mile 1.5 MilesTOTAL POPULATION 13,820 57,175 101,955
MEDIAN AGE 38.0 37.8 38.2
MEDIAN AGE (MALE) 38.6 38.0 37.9
MEDIAN AGE (FEMALE) 37.9 37.7 38.5
Households & Income 0.5 Miles 1 Mile 1.5 MilesTOTAL HOUSEHOLDS 7,895 30,956 51,828
# OF PERSONS PER HH 1.8 1.8 2.0
AVERAGE HH INCOME $73,223 $70,279 $71,964
AVERAGE HOUSE VALUE $579,878 $550,057 $601,708
Ethnicity 0.5 Miles 1 Mile 1.5 Miles% HISPANIC 10.2% 12.5% 12.3%
Race 0.5 Miles 1 Mile 1.5 Miles% WHITE 49.8% 45.9% 45.8%
% BLACK 24.4% 23.8% 20.9%
% ASIAN 20.5% 24.3% 27.7%
% HAWAIIAN 0.0% 0.1% 0.2%
% INDIAN 0.2% 0.4% 0.4%
% OTHER 5.0% 5.6% 5.2%
Demographics Map
Blake Manor570 Boden Way, Oakland, CA 94610
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* Demographic data derived from 2010 US Census
0.5 Miles 1 Mile 1.5 Miles
Total Households 7,895 30,956 51,828
Total Persons Per Hh 1.8 1.8 2.0
Average Hh Income $73,223 $70,279 $71,964
Average House Value $579,878 $550,057 $601,708
0.5 Miles 1 Mile 1.5 Miles
Total Population 13,820 57,175 101,955
Median Age 38.0 37.8 38.2
Median Age (Male) 38.6 38.0 37.9
Median Age (Female) 37.9 37.7 38.5
Demographics Report
Blake Manor570 Boden Way, Oakland, CA 94610
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Blake Manor570 Boden Way, Oakland, CA 94610
Alex LinInvestment Analyst
O: 415.813.5871M: 626.348.9192
Max RattnerInvestment Advisor
O: 415.230.0999M: 650.248.4342
[email protected] #02081586
Tim WarrenVice President
O: 510.336.4719M: 707.363.2463
[email protected] #02008347
Kent MitchellSenior Vice President
O: 510.548.2554M: 510.919.4919
[email protected] #01784628