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Listed by Jon Holmquist • Marcus & Millichap
$ 750,000
Est. payment /mo
New
912 Oak Street Oakland, CA 94607
3,977 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 3,977 sqft
Price per Sqft $188
Subdivision China Town
MLS Listing ID 41141615
HOA Y/N No
Year Built 1912
Lot Size 3,000 Sqft
Property Sub-Type 5 or More Units
Source Bridge AOR
Property Description
This offering of six units at 912 Oak St Avenue, Oakland, CA represents a rare opportunity to acquire a well-located and attractive multifamily property in the China Town neighborhood of Oakland, CA just one block from Lake Merritt. The current owner has owned the property for several decades. The property is constructed with a wood-frame structure and stucco exterior. The unit mix consists of six units, including one studio and five one-bedroom/one-bath units. Five of the six units are currently vacant with one one-bedroom/one-bath occupied by a long-term tenant. While the units were renovated approximately 30 years ago by the current ownership, they present an opportunity for further upgrades to maximize rental income and overall property value. The property is separately metered for gas and electricity, with the potential to implement a RUBS program to further enhance income. Tenants benefit from great walkability, with a Walk-Score of 93 (Walkers Paradise). Nearby public transport, or short walk allow easy access to ample retail, Lake Merritt BART station, and the shoreline of Lake Merritt. The building's ideal location positions it to benefit from Oakland's rebound and provide tenants with easy access to Downtown Oakland and San Francisco's primary employment centers. The huge AI boom in San Francisco is starting to provide spillover to Oakland as jobs and rents have stabilized and strengthened.
Location
State CA
County Alameda
Interior
Heating Natural Gas
Cooling None
Flooring Concrete
Fireplace No
Building
Lot Description Premium Lot, Rectangular Lot
Water Water District
Others
Special Listing Condition Offer As Is
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