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Listed by Steven Peterson • Infinity Investments peterson.infinity@gmail.com
$ 6,995,000
Est. payment /mo
Active
2624 Foothill Blvd Oakland, CA 94601
29,423 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Apt Complex
Listing Status Active
Purchase Type For Sale
Square Footage 29,423 sqft
Price per Sqft $237
Subdivision Fruitvale
MLS Listing ID 41130335
HOA Y/N No
Year Built 1928
Lot Size 0.262 Acres
Property Sub-Type Apt Complex
Source BAY EAST
Property Description
This very nostalgic 3 story marina style building property located at 2624 Foothill Blvd in Oakland California. Building description size is 29,423 square feet with 40 units. It is a great central business district location. It is in the heart of Oakland's Fruitvale district close to Lake Merritt. It has a concrete foundation, wood frame on .26-acre lot. The majority of the units have been substantially renovated. With 37% upside in rents, this building allows the next owner to increase returns and leverage investment in the hot Oakland market. The subject is a 40-unit apartment building which is three stories over a basement with 37% upside in the rents. The prior owner replaced reportedly rough half of the windows. The subject has a key fob entrance. There is a beautiful penthouse that has a view. The basement has a poured concrete foundation and perimeter walls and an open beam ceiling. The complex unit mix is 18 studios, 19 (1) bedrooms and 3 (2) bedrooms. The property is individually metered for gas and electricity. There is a laundry room generating extra monthly income and as a convenience for the residents. The interior finishes of the units contain carpet or wood flooring in living and be The soft story work is completed as well as the sewer lateral.
Location
State CA
County Alameda
Interior
Heating See Remarks
Cooling See Remarks
Flooring Tile, Wood, See Remarks
Fireplace No
Building
Lot Description See Remarks
Others
Special Listing Condition Standard
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