$1,345,000
429 Vernon Street Oakland, CA 94610
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Listed by Steven Pinza • The Pinza Group, Inc
$1,345,000
Est. payment /mo
5,008 SqFt
UPDATED:
08/26/2024 03:50 PM
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 5,008 sqft
Price per Sqft $268
MLS Listing ID 41070333
HOA Y/N No
Originating Board Bridge AOR
Year Built 1905
Lot Size 6,275 Sqft
Property Description
www.pinzaoaklandportfolio.com; The Pinza Group is pleased to present 429 Vernon St, an eight-unit property in Oakland's sought-after Adams Point neighborhood. This property features seven 1bd/1bth units and one studio, 1:1 off-street parking and ample storage. Its strategic location near the 19th Street BART station makes it an attractive option for commuters. The current rental rates, approximately 40% below market, reveal a substantial opportunity for significant rental upside upon turnover, capital improvement pass-throughs, or tenant buy-outs. With two units set to be delivered vacant, this property is ideal for both new investors aiming for owner occupancy through a low downpayment loan and seasoned investors looking to capitalize on market-rate rents. Current GRM 9.92; Market GRM 7.11; Email agent on property website for more info.
Location
State CA
County Alameda
Interior
Heating Other
Cooling Other
Flooring Other
Fireplace No
Exterior
Parking Type Other
Building
Lot Description Other
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