$5,779,000
29 apartments in two two-story buildings on two parcels (21 units and 8 units), built in 1949: 23 one-bedrooms, 4 two-bedrooms and 2 studios in about 32,382 SF. About 80% of units have been renovated. Seven garages and eight covered parking spaces, plus coin laundry on site, add income. Gas and electric are separately metered. Market rents run about 17% above in-place rents. In Oakland's Highland Park area by the Tuxedo and Dimond neighborhoods, across from Highland Hospital and minutes from Glenview, the Dimond District and Lake Merritt, with quick I-580 access. 7.03% current cap; 7.33% pro forma cap at market rents. 100% occupied per the rent roll.
Listed by Alina Siert with KW Advisors
MLS Property Type
Commercial Sale
Status
Active
MLS Number
ML82064079
Year Built
1949
Building Size
32,382 sq ft
Lot Size
5,001 sq ft
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449 Merritt Ave, Oakland
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