Remarks

An exceptional investment opportunity in the highly sought-after Grand Lake area, just behind the iconic Grand Lake Theater. This two-story, 5-unit apartment building features a front structure built in 1943, with a rear addition built later, providing a total of +/-4,605 square feet of living space. The unit mix includes (4) 2-bedroom/1-bath units & (1) 1 bedroom/1-bath unit. In a vibrant neighborhood with increasing property values & strong demand for housing, this is a prime opportunity for investors. $76,488/annually (+/-4.725% cap rate, +/-16.93 GRM). Vacant 2bd/1ba offers significant rental upside $105,960 +/-annually (+/-6.54% cap rate, +/-12.22 GRM). Add value opportunity with potential projected rental income of $153,600+/-annually (+/-9.35% cap rate, +/-8.56 GRM). (5) Gas meters, (4) Electric meters, (4) Water meters, (5) Off-street parking spaces. Situated between Grand Ave and Lakeshore Ave, join friends for brunch at one of the many diverse eateries or catch the latest movie from the iconic Grand Lake Theater or gather your organic produce every Saturday morning at the farmer’s market. Enjoy the Lake Merritt vibe and get in your daily exercise along the lakefront with a WalkScore of 97. Located near BART, downtown Oak-SF, casual carpool & major freeways.

Details

MLS#: 41079321
Price: $1,295,000

Style: 5 or More Units
Sq Ft: 4605
Year Built: 1943

County: Alameda