251 Park View Ter - Apartments FOR SALE


Oakland, CA 94610- Adams Point
$3,600,000 USD
510-336-4721
251 Park View Ter, Oakland, CA for Sale
$3,600,000 USD
Apartments - FOR SALE
1/19
null | 6.28% Cap Rate

251 Park View Ter
Oakland, CA 94610
Adams Point


HIGHLIGHTS

  • Impeccable Location: Situated on a tree-lined street within walking distance of Lake Merritt
  • Rare 40's Construction Deco Architecture
  • Spacious Units: Abundant space boasting large closets in bedrooms and living rooms
  • Abundant Lighting: Natural light and views from most units
  • Walking distance to 19th Street BART and Two blocks from Whole Foods
  • Value-Add: Unique opportunity to reposition the asset via lease up at market rents

OVERVIEW

NorCal is pleased to present 251 Park View Terrace, an exceptional, early 40's apartment building located just steps from Lake Merritt. This three story structure features classic Art Deco architecture, 18 spacious units, modern elevator, a secured entry and inviting lobby. The units boast original hardwood floors, abundant closet spaces and large windows providing impressive natural light, many with views of downtown Oakland & Lake Merritt. 1:1 garage parking, laundry area and large owner’s storage room. Located on a beautiful tree-lined street, the property provides many lifestyle conveniences with close proximities to Lake Merritt, 19th Street BART, and Whole Foods Market. This investment gives an Owner the rare opportunity to lease-up high demand units at current market rents to reposition the asset and achieve outstanding returns.

FOR SALE DETAILS

PRICE

$3,600,000 USD

PRICE/SF

$239 USD /SF

# OF UNITS

18

PRICE/UNIT

$200,000

CAP RATE

6.28%

% LEASED

50%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1942

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,751 SF

ZONING

R60-S12, Oakland

APN/PARCEL ID

010-0770-001-00

ASK ABOUT THIS PROPERTY

Grant ChappellNAI Northern CaliforniaMore Info
510-336-4721

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Grant ChappellNAI Northern CaliforniaMore Info
510-336-4721

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