1415 Martin Luther King Jr Way, Oakland, CA 94612
14 Unit Apartment Building | $2,300,000 ($164,286/Unit) | 5.31% Cap Rate | Oakland, CA 94612
For Sale
Active
Asking Price $2,300,000
- Property Type
-
Multifamily
- Square Feet
- 14,236 SF
Listing Contacts
Colter Carton
Adam Levin
Eymon Binesh
Property Overview
ATTRACTIVE SELLER FINANCING AVAILABLE. The subject property offers qualified investors an attractive seller financing option at 5% IO, 70% LTV and a 5-year term.
1415 Martin Luther King Jr Way is an exceptional mixed-use investment opportunity located in the thriving city of Oakland, California.
Situated on a 3,520 square foot parcel of land, the subject property was originally constructed in 1906 and has a gross building area of approximately 14,236 square feet, offering beautifully designed two-bedroom, one-bedroom and studio floor plans, and two commercial retail spaces.
The city of Oakland is the eighth-largest city by population in California, and the county seat of Alameda County. It is the largest city within the East Bay and has a large concentration of tech, healthcare, and banking companies around the area including Kaiser Permanente, Sutter Health, Pandora, Wells Fargo as well as many others. Oakland offers convenient access to several transportation corridors including the San Francisco - Oakland Bay Bridge, Interstate 880 and several nearby BART stations to easily reach other major hubs within the Bay Area. Oakland also serves as the trade center for the entire Bay Area with the Port of Oakland being the busiest port in all of Northern California.
The investment appeal of this asset is driven by Oakland’s strong employment fundamentals and low vacancy levels. With a world-class location in the heart of East Bay, 1415 Martin Luther King Jr Way presents an attractive choice for renters due to close proximity to major employers, transportation corridors, shopping, dining and entertainment options.
1415 Martin Luther King Jr Way is an exceptional mixed-use investment opportunity located in the thriving city of Oakland, California.
Situated on a 3,520 square foot parcel of land, the subject property was originally constructed in 1906 and has a gross building area of approximately 14,236 square feet, offering beautifully designed two-bedroom, one-bedroom and studio floor plans, and two commercial retail spaces.
The city of Oakland is the eighth-largest city by population in California, and the county seat of Alameda County. It is the largest city within the East Bay and has a large concentration of tech, healthcare, and banking companies around the area including Kaiser Permanente, Sutter Health, Pandora, Wells Fargo as well as many others. Oakland offers convenient access to several transportation corridors including the San Francisco - Oakland Bay Bridge, Interstate 880 and several nearby BART stations to easily reach other major hubs within the Bay Area. Oakland also serves as the trade center for the entire Bay Area with the Port of Oakland being the busiest port in all of Northern California.
The investment appeal of this asset is driven by Oakland’s strong employment fundamentals and low vacancy levels. With a world-class location in the heart of East Bay, 1415 Martin Luther King Jr Way presents an attractive choice for renters due to close proximity to major employers, transportation corridors, shopping, dining and entertainment options.
Property Details
- Class
- C
- Year Built
- 1906
- Stories
- 4
- Lot Size (sq. ft)
- 14,375 SF
- Units
- 14
Highlights
- The subject property offers qualified investors an attractive seller financing option at 5% IO, 70% LTV and a 5-year term.
- Investors have the opportunity to acquire a multifamily asset with high potential cash flow by increasing rents to market premiums.
- The subject property is comprised of 14 multifamily units and 2 commercial retail spaces and allowing investors to further diversify their portfolio.
- Tenants enjoy easy access to the Bay Bridge, Interstate 880, Interstate 980, several BART Stations, and convenient bus services.
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