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Listed by Christopher Paratore • BHHS Drysdale Alameda
$ 799,000
Est. payment /mo
Active
2831 Martin Luther King Jr Way Oakland, CA 94609
3,420 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 3,420 sqft
Price per Sqft $233
Subdivision Pill Hill
MLS Listing ID 41137937
HOA Y/N No
Year Built 1912
Lot Size 2,520 Sqft
Property Sub-Type 5 or More Units
Source Bridge AOR
Property Description
Exceptional opportunity to acquire a fully occupied 5-unit apartment building in one of North Oakland's most sought-after rental markets, offered at $799,000. The property features an excellent unit mix of four 1-bedroom/1-bath units and one 2-bedroom/1-bath unit, providing stable in-place income and broad tenant appeal. This well-maintained asset has benefited from significant recent capital improvements, including remodeled units, a newer roof, and fresh exterior paint, allowing investors to acquire a turnkey property with reduced near-term capital expenditures. Separately metered PG&E service allows tenants to pay their own gas and electricity, helping improve operating efficiency. Ideally situated just minutes from the Temescal District, MacArthur BART Station, UC Berkeley, Emeryville, Downtown Oakland, Kaiser Permanente, and major freeways, the property enjoys strong rental demand driven by convenient access to employment centers, shopping, dining, and public transportation. The property is 100% occupied and generates approximately $89,523 in annual scheduled rental income, providing immediate cash flow from the first day of ownership. Whether you're completing a 1031 exchange, expanding an existing portfolio, or acquiring your first multifamily investment, this property offers an outstanding combination of location, stability, and long-term investment potential.
Location
State CA
County Alameda
Interior
Heating Electric, MultiUnits
Cooling None
Flooring Hardwood, Laminate
Fireplace No
Building
Lot Description Curb(s), Garden, Security Gate
Water Water District
Others
Special Listing Condition Standard
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