1520 1St Ave, Oakland, CA 94606
8 Unit Apartment Building | $2,300,000 ($287,500/Unit) | 6.02% Cap Rate | Oakland, CA 94606
For Sale
Active
Asking Price $2,300,000
- Property Type
-
Multifamily
- Square Feet
- 5,049 SF
Listing Contacts
Matthew Rulloda
Monjid Aldiyyat
Property Overview
Berkshire Hathaway Commercial Property Group proudly presents 1520 1st Ave, Oakland, CA—an exceptional 8-unit multifamily property ideally situated in Downtown Oakland, steps away from the Lake Merritt. This property boasts a diverse mix of units, comprising (3) 2-bedroom, 1-bathroom residences, (3) spacious 1-bedroom, 1-bathroom units, and (2)
generous studio apartments with 1 bathroom each. Upon acquisition, the property offers the flexibility of delivering up to 7 out of 8 units vacant at the close of escrow, providing immediate opportunities for renovations or leasing at market value. Moreover, the property presents promising potential for further development, with the possibility of constructing an Additional Dwelling Unit (ADU) and an onsite laundry room, catering to tenant needs and enhancing property value. This is a great opportunity to acquire a lucrative asset in a great location.
generous studio apartments with 1 bathroom each. Upon acquisition, the property offers the flexibility of delivering up to 7 out of 8 units vacant at the close of escrow, providing immediate opportunities for renovations or leasing at market value. Moreover, the property presents promising potential for further development, with the possibility of constructing an Additional Dwelling Unit (ADU) and an onsite laundry room, catering to tenant needs and enhancing property value. This is a great opportunity to acquire a lucrative asset in a great location.
Property Details
- Class
- C
- Year Built
- 1910
- Stories
- 3
- Lot Size (sq. ft)
- 3,485 SF
- Units
- 8
Highlights
- Situated in the heart of the vibrant Lake Merritt neighborhood, this property offers a highly desirable location that is sought after by tenants and i
- With the flexibility to deliver 7 out of 8 units vacant upon sale, this property provides immediate possibilities for renovations or upgrades to maxim
- Unlock additional revenue streams with the potential for constructing an Additional Dwelling Unit (ADU) and/or onsite laundry facilities, enhancing th
- Enjoy easy access to transportation with the Lake Merritt BART Station just a brief 5-minute drive away, facilitating seamless commutes throughout the
- Strategically located near major Oakland employers such as Kaiser Permanente and Sutter Health, this property offers an attractive housing option for
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