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Key Details
Sold Price $1,500,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Subdivision Temescal
MLS Listing ID 41048723
Sold Date 02/27/24
HOA Y/N No
Year Built 1941
Lot Size 5,000 Sqft
Property Description
539-545 45th Street is an incredibly rare opportunity to acquire a pridefully maintained 3,714±SF fourplex on a 5,000±SF parcel in the heart of one of Oakland's hottest submarkets, Temescal! Located within one half-block of bustling Telegraph Avenue, this income producing asset boasts a 97 WalkScore and 97 BikeScore, with rental demand driven by proximity to award-winning restaurants, retail, MacArthur BART Station, UCSF Benioff Children's Hospital, transit lines and freeway access. With one 1BD/1BA unit delivered vacant, 539-545 45th features a desirable unit mix of (1) 3BD/1BA; (3) 1BD/1BA. New ownership benefits from Seller's recent investment of over $100,000 in capital improvements and projected Potential Rental Income over $136,000/annually (5.71% cap rate, 11.35 GRM). Whether you are a first-time owner-user or seasoned multifamily investor, 539-545 45th appeals to a broad range of Buyers, offering the ideal combination of steady near-market rents coupled with maximum Day 1 flexibility, future upside, and conversion potential in one of the City's most desirable submarkets.
Location
State CA
County Alameda
Interior
Heating Electric, Forced Air, Natural Gas, Wall Furnace
Flooring Carpet, Laminate, Tile, Vinyl, Wood
Fireplace No
Appliance Gas Water Heater, Dryer, Washer
Exterior
Parking Features Garage, Garage Door Opener, Other, On Street
Roof Type Shingle,Tile
Total Parking Spaces 2
Building
Lot Description Back Yard, Street Level, Yard
Sewer Public Sewer
Others
Tax ID 13109451
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Financing Conventional
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Bought with Giuseppe Zumbo • Corcoran Icon Properties