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$3,375,000
Est. payment /mo
6,956 Sqft Lot
UPDATED:
12/10/2024 11:25 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 41077995
HOA Y/N No
Year Built 1958
Lot Size 6,956 Sqft
Property Description
This 10,150 SF multifamily property, built in 1957, presents a lucrative opportunity for investors seeking solid returns. Featuring 15 units—10 1-bedroom, 1-bathroom units, 3 studios, and 2 2-bedroom, 1-bathroom units—the property provides a well balanced unit mix that appeals to a broad tenant base. Zoned R50 also offers flexibility for future development or expansion, enhancing its long-term value. Located in a highly desirable Oakland area, this asset is strategically positioned less than 5 minutes from Northeastern University and Mills College, with easy access to Highways 580 and 880. Its close proximity to Oakland International Airport and other key amenities further increases tenant demand, making it a strong rental market performer. The property is separately metered for PG&E utilities, features on-site parking, and has undergone a full seismic retrofit, ensuring modern infrastructure and reduced future capital expenditures. With potential for rent growth through tenant turnover, the property offers significant upside for value-add investors. This multifamily property combines immediate cash flow potential with strong prospects for future appreciation, making it a prime investment in Oakland's growing real estate market.
Location
State CA
County Alameda
Interior
Heating See Remarks
Cooling See Remarks
Fireplace No
Exterior
Total Parking Spaces 11
Building
Lot Description Corner Lot
Others
Tax ID 362503137
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Listed by Matthew Rulloda • BHHS Drysdale Properties