1140 E 22nd St - Apartments FOR SALE


Oakland, CA 94606- East Lake
$1,850,000 USD
707-363-2463
1140 E 22nd St, Oakland, CA for Sale
$1,850,000 USD
Apartments - FOR SALE
1/43
null | 5.9% Cap Rate

1140 E 22nd St
Oakland, CA 94606
East Lake


HIGHLIGHTS

  • Fully Renovated Five (5) Unit Apartment Community in Oakland’s Clinton Neighborhood
  • Rare opportunity to purchase a fully occupied turn-key asset with near-market rents
  • Unit Mix consists of one (1) large 3-bedroom 2-bathroom unit totaling 1,100 square feet, one (1) 2-bedroom 2-bathroom, and three (3) 2-bedroom 1-bath
  • Each unit contains a private balcony, modern gourmet kitchen, new bathrooms, huge closets, vinyl wood ?ooring, and recessed LED lighting
  • Conveniently located in Clinton adjacent to Lake Merritt, less than two blocks to city bus lines, walking distance to the Lake Merritt BART station

OVERVIEW

The Mitchell Warren Team is pleased to present 1140 E 22nd Street, a fully-renovated 5-unit property located in Oakland's Clinton neighborhood. The property consists of one (1) large 3-bedroom 2- bathroom unit totaling 1,100 square feet, one (1) 2-bedroom 2- bathroom unit, and three (3) 2-bedroom 1-bathroom units. Each unit has its own private balcony, modern gourmet kitchen with premium appliances, new bathrooms, huge closets, vinyl wood ?ooring, recessed LED lighting, and brand new modern design laminate glass entry door. Each unit is also individually metered for Gas and Electricity, limiting the operating expenses. This is an excellent opportunity to acquire a fully occupied turn-key stabilized asset. 1140 E 22nd St is located in the charming Clinton Neighborhood of Oakland just blocks from Lake Merritt. Situated south of Grand Avenue, the location allows tenants the convenience of Trader Joe's, Starbucks Co?ee, and various cafes and shops, all within walking distance. Tenants may also indulge in the best of Oakland's restaurants and nightlife, including the charming Grand Lake Theatre just a short distance from the property. Commuters will appreciate the proximity of city bus lines and the Lake Merritt BART Station, allowing access to the entire Bay Area. This location will continue to demand premium tenants and maintain a low vacancy rate.

FOR SALE DETAILS

PRICE

$1,850,000 USD

PRICE/SF

$229 USD /SF

# OF UNITS

5

PRICE/UNIT

$370,000

CAP RATE

5.9%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fully Renovated 941 SF Avg Unit Size

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Manufactured Housing/Mobile Housing, Office/Residential, Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1966

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,105 SF

ZONING

-

APN/PARCEL ID

022-0301-023-00

ASK ABOUT THIS PROPERTY

Timothy WarrenNAI Northern CaliforniaMore Info
707-363-2463

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Timothy WarrenNAI Northern CaliforniaMore Info
707-363-2463

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.