$3,700,000
410 Fairmount ave Oakland, CA 94611
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Listed by Willem Bos • COMPASS
$3,700,000
Est. payment /mo
16,306 SqFt
UPDATED:
10/11/2024 03:27 PM
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 $226
MLS Listing ID 41068920
HOA Y/N No
Originating Board Bridge AOR
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
Interior
Heating Other
Cooling Other
Flooring Other
Fireplace No
Laundry Common Area
Exterior
View None
Handicap Access Other
Parking Type Below Ground Parking
Building
Lot Description Other
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