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5918 Genoa Street offers 22.6% rental upside on a building where the heavy capital work is already done. Ownership has invested $282,822 in unit renovations, soft-story retrofit, sewer lateral, sidewalk, and laundry. Eight of 12 units are renovated, and the property is 100% occupied. In-place rents average $1,428 against a $1,750 market rent. The building's own renovated leases support that market figure, with five units at $1,632-$1,730. Four units below $1,300 account for roughly three-quarters of the loss-to-lease. That gives a buyer a defined, unit-by-unit path to the $153,000 pro forma NOI as those units turn over. The 1930 building totals 6,072 SF on 0.12 acres, with an average unit size of 506 SF and three covered parking spaces. In-place: $109,543 NOI, 5.62% cap rate, 9.48 GRM. Pro forma at market rents: $153,000 NOI, 7.85% cap rate, 7.74 GRM.
Property Type(s):
Residential Income
| Last Updated | 10/16/2026 | Tract | NORTH OAKLAND |
|---|---|---|---|
| Year Built | 1930 | County | Alameda |
Additional Details
| AIR | None |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Dryer, Gas Water Heater, Washer |
| CONSTRUCTION | Stucco, Wood Siding |
| HEAT | Natural Gas, Wall Furnace |
| LOT | 5201 sq ft |
| LOT DIMENSIONS | 5200 |
| SUBDIVISION | NORTH OAKLAND |
| TAXES | 35665 |
Location
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Listed with Marcus & Millichap
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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