12 bedroom Investment Near Lake Merritt
4,517 SF Specialty Building Offered at $2,250,000 at a 8.36% Cap Rate in Oakland, CA 94610
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,250,000
- Property Type
-
Specialty, Multifamily
- Square Feet
- 4,517 SF
- Price / Square Foot
- $498
Listing Contacts
David Howarth
Verified Profile
- Property Info
Property Overview
Rare 12-bedroom co-living investment in Lake Merritt/Grand Lake offering strong current cash flow and excellent rental upside. The front house offers 11 bedrooms, 4.5 bathrooms and in the rear is a 1-bedroom, 1-bathroom ADU. The property was built in 1914, offers a total of 4,515 square feet, and sits on a 6,545 square foot lot with ample driveway space and a spacious rear yard. All the bedrooms are rented individually to maximize the current income and the tenants share the main living areas which are spacious and beautifully furnished. The entire property has been fully remodeled with new electrical and plumbing systems, new HVAC systems, solar, gourmet kitchen with granite counter tops, custom tile, custom lighting, hardwood floors, double pane windows, and more. Currently, there are five vacant bedrooms, including the back ADU, creating a perfect opportunity for an owner-occupant or investor seeking high market rent. Seller financing is available with excellent terms.
*** EMAIL [email protected] FOR A COMPLETE MARKETING PACKAGE AND PRIVATE SHOWING.
*** EMAIL [email protected] FOR A COMPLETE MARKETING PACKAGE AND PRIVATE SHOWING.
Property Details
- Class
- B
- Year Built/Renovated
- 1914/2020
- Stories
- 3
- Property Subtype
- Residential Income, Dormitory
- Lot Size (sq. ft)
- 6,534 SF
Highlights
- Rare 12 Bedroom Lake Merritt / Grand Lake Investment With Excellent Current Cash Flow
- 11 Bedroom 4.5 Bathroom Front House With Rear 1 Bedroom, 1 Bathroom ADU
- Well Maintained Property With No Deferred Maintenance And Low Annual Expenses
- Prime Oakland Location, Near BART, Award-Winning Restaurants, Whole Foods, and Easy Commute to Downtown Oakland, Berkeley, and San Francisco
- Full Remodel in the Past 5 Years, Including New Electrical, Plumbing, HVAC Systems, Hardwood Floors, Gourmet Kitchen, & Brand New Solar
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