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JLee Broker

[email protected] +1(650) 857-1000

$1,295,000

Est. payment - /mo

6 Beds

4 Baths

4,605 SqFt

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OPEN HOUSE

Sat Nov 23, 1:00pm - 3:00pm

UPDATED:

11/20/2024 09:50 PM

Key Details

Property Type Multi-Family, Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 4,605 sqft

Price per Sqft $281

MLS Listing ID EB41079321

Bedrooms 6

Originating Board Bridge MLS

Year Built 1943

Lot Size 5,000 Sqft

Property Description

An exceptional investment opportunity in the highly sought-after Grand Lake area, just behind the iconic Grand Lake Theater. This two-story, 5-unit apartment building features a front structure built in 1943, with a rear addition built later, providing a total of +/-4,605 square feet of living space. The unit mix includes (4) 2-bedroom/1-bath units & (1) 1 bedroom/1-bath unit. In a vibrant neighborhood with increasing property values & strong demand for housing, this is a prime opportunity for investors. $76,488/annually (+/-4.725% cap rate, +/-16.93 GRM). Vacant 2bd/1ba offers significant rental upside $105,960 +/-annually (+/-6.54% cap rate, +/-12.22 GRM). Add value opportunity with potential projected rental income of $153,600+/-annually (+/-9.35% cap rate, +/-8.56 GRM). (5) Gas meters, (4) Electric meters, (4) Water meters, (5) Off-street parking spaces. Situated between Grand Ave and Lakeshore Ave, join friends for brunch at one of the many diverse eateries or catch the latest movie from the iconic Grand Lake Theater or gather your organic produce every Saturday morning at the farmer's market. Enjoy the Lake Merritt vibe and get in your daily exercise along the lakefront with a WalkScore of 97. Located near BART, downtown Oak-SF, casual carpool & major freeways.

Location

State CA

County Alameda

Area Other Area

Interior

Heating Gravity, Wall Furnace

Cooling None

Flooring Other

Exterior

Exterior Feature Stone, Siding - Wood

Garage Spaces per Unit - 1, Off-Site Parking

Garage Spaces 5.0

Roof Type Rolled Composition,Composition

Building

Lot Description Regular

Sewer Sewer - Public

Water Public

Others

Tax ID 11-837-61

Special Listing Condition New

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Listed by Giuseppe Zumbo • Corcoran Icon Properties

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JLee Broker

+1(650) 857-1000

Broker | License ID: 00851314

Broker License ID: 00851314

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481 Wickson AVE Oakland, CA 94610

JLee Broker

JLee Broker

OPEN HOUSE

Key Details

Location

Interior

Exterior

Building

Others

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