REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,375,000
Est. payment | /mo
7,501 Sqft Lot
$ 1,375,000
Est. payment | /mo
7,501 Sqft Lot
Key Details
Property Type Commercial
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID ML82045784
HOA Y/N No
Year Built 1962
Annual Tax Amount $17,571
Lot Size 7,501 Sqft
Property Description
Price Per Unit Under $200k. 2244 12th Avenue presents a seven-unit multifamily investment opportunity in Oakland's Clinton Neighborhood, a well-established rental pocket in the East Bay. Located on a corner lot with strong street presence, the property offers immediate access to Lake Merritt, Grand Avenue, Lakeshore dining and retail, Downtown Oakland employment hubs, and direct freeway access to I-580 and I-880. The asset consists of seven 2-bedroom/1-bathroom apartments across a two-story wood frame and stucco building totaling 5,495 sq ft, built in 1962 on a 0.17-acre lot. All units are individually metered for gas and electricity. Income is further supported by a double garage leased to an on-site tenant, five designated parking spaces offered to residents for a monthly fee, and a coin-operated laundry room generating supplemental income. Units are clean and fully rentable in their current condition, with clear value-add potential for an incoming owner to modernize interiors and bring rents to market at $2,200/month. Current cap rate of 7.81% with a pro forma cap rate of 9.52% at market rents. SB 721 inspection completed. Do Not Disturb Tenants.
Location
State CA
County Alameda
Area 699 - Not Defined
Zoning RM-2
Interior
Heating Wall Furnace
Fireplace No
Exterior
Roof Type Flat
Total Parking Spaces 5
Schools
School District Other
Others
Tax ID 2230115
Special Listing Condition Standard
Listed by Ray Rodriguez Compass #01999734
NEARBY SCHOOLS & PROPERTIES
“My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! ”