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$3,650,000
Est. payment /mo
16,306 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Pending
Purchase Type For Sale
Square Footage 16,306 sqft
Price per Sqft $223
MLS Listing ID 41082352
HOA Y/N No
Year Built 1926
Lot Size 7,250 Sqft
Acres 0.17
Property Sub-Type 5 or More Units
Property Description
410 Fairmount Avenue is a desirable eighteen-unit apartment building consisting of a strong unit mix, including (2) Well-maintained studios, (10) large one-bedroom units, and (6) functionally designed two-bedroom units. With extensive capital improvements, including bringing all electrical panels up to date, replacing the main panel, individually meeting each unit, and fully seismically upgrading the building, this is a stable and easy-to-manage asset for any investor. In addition, 410 Fairmount is located directly above the sprawling Lake Merritt Recreation Center in Oakland, making this a highly sought-after tenant location. With day-one solid cash flow and a sizable amount of rental growth potential, this is a safe and secure asset for any investor looking for a long-term hold and priced well below comps at only an 8.45 GRM and over a 6.70% in-place CAP rate.
Location
State CA
County Alameda
Rooms
Basement Other, Storage Space
Interior
Heating See Remarks
Cooling None
Flooring Tile, Vinyl, Carpet, Wood
Fireplace No
Appliance Dryer, Washer
Exterior
Utilities Available Other Water/Sewer, Individual Electric Meter
Total Parking Spaces 15
Building
Lot Description Sloped Down
Water Other
New Construction No
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Listed by Willem Bos • COMPASS
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