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$3,525,000
Est. payment /mo
0.46 Acres Lot
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision Oakland
MLS Listing ID 41149663
HOA Y/N No
Year Built 1950
Lot Size 0.459 Acres
Property Description
Renovated with huge upside: ownership has invested $492,707 in improvements since 2018, yet eight of the 14 apartments still rent below $1,300 a month, leaving 53% upside to market. The work includes six gut-remodeled units, new copper plumbing and a heat pump water heater, a sewer lateral, main electrical panels, a roof and a new parking lot. The property is Soft Story and SB 721 compliant. Offered at $3,525,000, a 6.02% current cap and 10.13 GRM, growing to a 10.36% cap and 6.69 GRM at market rents. This 18-unit mixed-use property in Oakland's Dimond District offers 14 apartments and 4 commercial storefronts across three buildings on a 20,000 SF lot with 14 surface parking spaces. The unit mix is seven 1BR/1BA units, seven 2BR/1BA units and four commercial suites. Just 0.2 miles to Farmer Joe's with easy access to I-580 and Fruitvale BART.
Location
State CA
County Alameda
Interior
Heating Natural Gas
Cooling See Remarks
Fireplace No
Exterior
Total Parking Spaces 14
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Listed by Willem Bos COMPASS #02013980
Nearby Locations
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