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Pinnacle Realty Advisors

support@pinnaclera.com +1(972) 338-5441

Listed by Davide Pio • BCRE

$ 1,400,000

Est. payment -/mo

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2244 12th Ave Oakland, CA 94606

8 Beds

4 Baths

5,495 SqFt

UPDATED:

Key Details

Property Type Multi-Family, Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 5,495 sqft

Price per Sqft $254

MLS Listing ID CC41113160

Bedrooms 8

Year Built 1962

Lot Size 7,500 Sqft

Property Sub-Type Five or More Units

Source Contra Costa Association of Realtors

Property Description

Cap Rate - 6.49% (Current) | GRM - 8.78 (Current) | Cap Rate - 8.54% | (Proforma) | GRM - 7.28 (Proforma) 2244 12th Avenue features seven (7) units, all of which are large 2 beds / 1 bath. The property has been well-maintained and upgraded over the years. Improvements include city-required point of sale ordinances such as sewer lateral replacement, fire inspection compliance, sidewalk, and removal of the soft story list. A 2-car garage and small parking lot in addition to a leased laundry room provide additional income. The property allows for both a turn-key investment with upside upon light remodels in some units enabling higher rents. Located on the Clinton / Bella Vista neighborhood border, the property is located in proximity to local businesses just east of Lake Merritt. A short drive provides quick access to Highway 580 or 880 allowing easy connects to San Francisco, Berkeley, and Silicon Valley.

Location

State CA

County Alameda

Area Oakland Zip Code 94606

Interior

Heating Wall Furnace

Cooling None

Flooring Other

Laundry In Laundry Room, Laundry Facility - Coin-Op, Washer/Dryer - Leased, Community Facility, Dryer

Exterior

Exterior Feature Stucco

Parking Features Attached Garage, Enclosed, Off-Site Parking, Other

Garage Spaces 7.0

Building

Sewer Sewer - Public

Water Public, Heater - Gas

Others

Tax ID 22-301-15

Special Listing Condition New, Not Applicable