$ 3,700,000
410 Fairmount ave Oakland, CA 94611
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
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$ 3,700,000
Est. payment /mo
Price Dropped by $50K
410 Fairmount ave Oakland, CA 94611
16,306 SqFt
UPDATED:
10/11/2024 10:03 AM
Key Details
Property Type Multi-Family, Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 16,306 sqft
Price per Sqft $226
MLS Listing ID EB41068920
Originating Board Bridge MLS
Year Built 1926
Lot Size 7,250 Sqft
Property Description
New electrical sub and main panels! 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 8.8 GRM and over a 6.3% in-place CAP rate.
Location
State CA
County Alameda
Area Other Area
Interior
Cooling Other
Flooring Other
Laundry Community Facility
Exterior
Exterior Feature Other
Garage Underground Parking
Garage Spaces 9.0
Roof Type Other
Building
Lot Description Other
Water Other
Others
Special Listing Condition Not Applicable
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Listed by Willem Bos • COMPASS