2244 12th Ave - Apartments FOR SALE


Oakland, CA 94606- East Lake
$1,400,000 USD
510-815-2000
2244 12th Ave, Oakland, CA for Sale
$1,400,000 USD
Apartments - FOR SALE
1/26
null | 6.49% Cap Rate

2244 12th Ave
Oakland, CA 94606
East Lake


HIGHLIGHTS

  • Upside in Rents w Remodels - Opportunity to upgrade the units and command rents higher over time
  • Soft Story Exempt - Removed from City of Oakland’s soft story list after an engineer review in 2024.
  • Near Lake Merritt - Short walk to outstanding Lake Merritt area shops, restaurants, bars, and coffee houses.

OVERVIEW

Davide F. Pio proudly presents 2244 12th Ave in Oakland, CA for sale. The multifamily asset 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.

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$255 USD /SF

# OF UNITS

7

PRICE/UNIT

$200,000

CAP RATE

6.49%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7 Unit in Clinton / Bella Vista Neighborhood

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,492 SF

ZONING

RM-2

APN/PARCEL ID

022-0301-015-00

ASK ABOUT THIS PROPERTY

510-815-2000

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

510-815-2000

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