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This impeccably maintained and updated 1915 Prairie Style building is truly the epitome of a pride of ownership property. From the architectural appeal of its original single family origin to the current creative use of space as a fourplex, 578 Forest now offers 4 fortunate dwellers a comfortable respite.
Units feature Oak floors, updated kitchens with granite counters, stainless appliances, well lighted living spaces framed by double hung wood and casement windows. Outside your private abode is the calming rear gated garden with BBQ patio and on site laundry building and storage.
Beyond the newer roof, newer painting, plumbing fixtures, lush and manicured landscaping that a new owner will appreciate, is the more intimate care that has been. taken to create a clean, secure home for its grateful residents over many years. Sited gracefully and slightly perched on the corner of Forest and treelined Ayala streets, the placement allows for two driveways suited for 4 cars (2 side by side and 2 tandem).
These comfortable living spaces are all just steps to Rockridge BART, the multitude of Market Hall’s bakery, fish, wine, produce and coffee goods, ample casual and acclaimed restaurants, eclectic shops, convenient Trader Joe’s grocery, a local library and many parks. It attracts tenants easily with its easy access to UC Berkeley, downtown Oakland, Berkeley and San Francisco where BART gets you to the Embarcadero in 20 minutes.
The true clinching benefit is that with such a desirable building and location comes easy leasing with low turnover at high market rent rates. So if you’re an investor, your costs are covered even if you fully finance the purchase with just 25% down or receive well over a 4% return before debt service and appreciation.
For the smart and savvy owner occupant buyer, a unit has just become vacant and ready to occupy while you receive income from the other 3 units that will still cover 95% of your mortgage interest, property taxes, insurance, utilities, landscaping and license fees, making it more advantageous to purchase this 2700sf plus multiunit building than renting one of its units!
See financial proforma doc here.
Additional Showings by Appointment with the Listing Agent