539 Mandana Blvd - Apartments FOR SALE


Oakland, CA 94610- Lower Hills District
$1,650,000 USD
510-822-1331
539 Mandana Blvd, Oakland, CA for Sale
$1,650,000 USD
Apartments - FOR SALE
1/22
null | 7.23% Cap Rate

539 Mandana Blvd
Oakland, CA 94610
Lower Hills District


HIGHLIGHTS

  • Excellent Unit Mix Featuring Seven Total Units Comprised of Two 2bd/1bth Units, Four 1bd/1bth Units, and One Studio Apartments
  • Prime Lakeshore Grand Lake Oakland Location Less than Two Blocks to Lakeshore Ave;
  • Walking Distance Popular Restaurants, Cafes, Schools, Shopping Options, and Public Transportation
  • Remodeled Units with Low Annual Operating Expenses

OVERVIEW

7-unit apartment complex with strong current income and excellent location one block to all the restaurants and shopping on Lakeshore Ave. The property features an attractive unit mix including two 2bd/1bth units, five 1bd/1bth units, and one studio unit. The property was originally built in 1950, offers 6,151 square feet of rental space, and sits on a 5,000 square foot lot with four vacant attached garage spaces and three off-street parking spaces. The units have been remodeled over time and offer updated kitchens and bathrooms, custom tile and lighting, hardwood floors, double pane windows, and more. The property is easy to manage and separately metered for electric, gas, and water, providing for low annual operating expenses. The seller recently spent approximately $300,000 to complete a full earthquake retrofit, upgrade the electrical, and install a new sewer lateral, to deliver a turnkey property for the next owner. This is a high demand rental location one block from Lakeshore Ave and all the popular restaurants, coffee shops, and shopping options. This location is surrounded by multi-million dollar homes and is impossible to beat if you're seeking high rents, little to no turn-over, and the best possible tenants. ****EMAIL DAVID@PINZAGROUP.COM FOR A COMPLETE MARKETING PACKAGE AND PRIVATE SHOWING.

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$268 USD /SF

# OF UNITS

7

PRICE/UNIT

$235,714

CAP RATE

7.23%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lakeshore Grand Lake Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,963 SF

ZONING

R-70, Oakland

APN/PARCEL ID

011-0837-032-00

ASK ABOUT THIS PROPERTY

David HowarthPinza GroupMore Info
510-822-1331

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David HowarthPinza GroupMore Info
510-822-1331

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