2450 Martin Luther King Jr Way
Oakland, CA 94612
0.11 acres | #41064898
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.
Property Details
- Acres0.1098
Construction Details
- Property TypeMulti-Family
Condition
- Year Built1970
Community and Neighborhood Details
- CountyAlameda
Financial Details
- Original List Price$1,150,000
Other
- MLS #41064898
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: David Howarth (#BMLS-R01360348)
Listing Office: The Pinza Group, Inc (#BMLS-OBPINZA)
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