2450 Martin Luther King Jr Way
Oakland, CA 94612
$155,000.00 (-13.48%)
Active for $995,000
Beds: N/A Baths: Structure Size: N/A sqft Lot Size: 4,784 sqft
| MLS | 41064898 |
| Year Built | 1970 |
| Property Type | |
| County | Alameda |
| Status | Active |
| Active | $995,000 |
| Structure Size | N/A sqft |
| Lot Size | 4,784 sqft |
| Beds | N/A |
| Baths |
Description
www.2450mlk.com; 10-unit West Oakland mixed-use investment offering five commercial units and five residential units with excellent upside. Current Cap rate: 8.80%, Current price/unit: $99,500! The property was originally built in 1970, offers approximately 3,200 square feet of rental space, and sits on a 4,784 square foot lot with multiple off-street parking spaces. The commercial units are large and in rent-ready condition. The residential units include four studio units and one 1bd/1bth unit. The property is easy to manage and separately metered for PG&E providing low annual operating expenses. The exterior and interior are in good condition, with no deferred maintenance, making this an easy building to manage. Two commercial units and one residential unit can be delivered vacant or leased at market rate before the close of escrow offering maximum flexibility. The current tenants are stable with rents 50% below market providing for huge rental increases upon move-out or buyouts.
Listing information courtesy of: David Howarth, The Pinza Group, Inc . *Based on information from the Association of REALTORS/Multiple Listing as of 09/24/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Location
Contact a Local Realtor®
Susan Gasparyan
REALTOR®
Direct: 818.425.3540
Email: Email Me
DRE: 01480520
DRE #01873088
.png){kind=small}