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Listed by Willem Bos • COMPASS
$ 3,650,000
Est. payment /mo
Active
410 Fairmount Ave Oakland, CA 94611
16,306 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 16,306 sqft
Price per Sqft $223
MLS Listing ID 41082352
HOA Y/N No
Originating Board Bridge AOR
Year Built 1926
Lot Size 7,250 Sqft
Property Sub-Type 5 or More Units
Property Description
410 Fairmount Avenue is a desirable eighteen-unit apartment building consisting of a strong unit mix, including (2) Well-maintained studios, (10) large one-bedroom units, and (6) functionally designed two-bedroom units. With extensive capital improvements, including bringing all electrical panels up to date, replacing the main panel, individually meeting each unit, and fully seismically upgrading the building, this is a stable and easy-to-manage asset for any investor. In addition, 410 Fairmount is located directly above the sprawling Lake Merritt Recreation Center in Oakland, making this a highly sought-after tenant location. With day-one solid cash flow and a sizable amount of rental growth potential, this is a safe and secure asset for any investor looking for a long-term hold and priced well below comps at only an 8.45 GRM and over a 6.70% in-place CAP rate.
Location
State CA
County Alameda
Interior
Heating See Remarks
Cooling None
Flooring Tile, Vinyl, Carpet, Wood
Fireplace No
Appliance Dryer, Washer
Building
Lot Description Sloped Down
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Sofia Gurevich
Real Estate & Mortgage Broker | License ID: CA DRE 01249163 I NMLS 287968