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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.
Property Type(s):
Residential Income
| Last Updated | 11/20/2024 | Year Built | 1958 |
|---|---|---|---|
| County | Alameda |
Price History
| Prior to Nov 20, '24 | $3,500,000 |
|---|---|
| Nov 20, '24 - Today | $3,375,000 |
Additional Details
| AIR | See Remarks |
|---|---|
| AIR CONDITIONING | Yes |
| CONSTRUCTION | See Remarks |
| HEAT | See Remarks |
| HOA DUES | 0 |
| LOT | 6958 sq ft |
| LOT DESCRIPTION | Corner Lot |
Location
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Listed with BHHS Drysdale Properties
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.
This IDX solution is (c) Diverse Solutions 2024.
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