OMC Lofts
21 Unit Apartment Building | $6,500,000 ($309,524/Unit) | 6.50% Cap Rate | Oakland, CA 94606
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $6,500,000
- Property Type
-
Multifamily
- Square Feet
- 33,065 SF
Listing Contacts
Matt Treadway
Verified Profile
- Property Info
Property Overview
The property was originally used as an AT&T switching station until 1922 when Old Mother's Cookies bought the property and transformed it into their bakery and corporate headquarters. The property was converted into 20 live/work and 1 commercial loft in 2009. One benefit of the property is exempt from local rent control! The building is separately metered for gas/electric and the rest of the utilities are reimbursed to the owner through RUBS. The units range in size from 1,018 to 2,600 square feet. The size of the units along the brick and timber design are big selling factors for the tenants. Old Mother's Cookies Lofts offer a new owner a unique opportunity to own a rarely available property type for less than $200 per square foot!!
Located in the Clinton neighborhood of Oakland just southeast of Lake Merritt the Old Mother's Cookies Lofts are in a desirable location. Tenants are able to walk for most errands, enjoy both Franklin and San Antonio Parks and have close access to public transportation. The property boast a Walkscore of 86! Tenants are also just over a mile away from the Brooklyn Basin development site which will offer tenants a plethora new choices for shopping with 200,000 feet of commercial space coming on line. Old Mother's Cookies location is a selling point for it's tenants.
Located in the Clinton neighborhood of Oakland just southeast of Lake Merritt the Old Mother's Cookies Lofts are in a desirable location. Tenants are able to walk for most errands, enjoy both Franklin and San Antonio Parks and have close access to public transportation. The property boast a Walkscore of 86! Tenants are also just over a mile away from the Brooklyn Basin development site which will offer tenants a plethora new choices for shopping with 200,000 feet of commercial space coming on line. Old Mother's Cookies location is a selling point for it's tenants.
Property Details
- Class
- C
- Year Built
- 1922
- Stories
- 2
- Lot Size (sq. ft)
- 35,719 SF
- Units
- 21
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