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$825,000
Est. payment /mo
3 Beds
3,192 SqFt
UPDATED:
12/20/2024 02:09 AM
Key Details
Property Type Other Types
Sub Type OTHER
Listing Status Active
Purchase Type For Sale
Square Footage 3,192 sqft
Price per Sqft $258
MLS Listing ID CL24473677
Bedrooms 3
HOA Y/N No
Year Built 1944
Lot Size 6,000 Sqft
Acres 0.14
Property Description
Welcome to an exceptional investment opportunity at 1240-1248 E 15th St, a wellmaintained 4-unit building located near the highly desirable Lake Merritt area ofEast Oakland. With a rare combination of strong cash flow and fantastic upsidepotential this property is a true gem in today's market.Boasting a solid cap rate and occupied by vetted tenants, this asset deliversimmediate stability and consistent rental income. The property is thoughtfullydesigned with an open lot offering valuable off-street parkinga coveted featurethat ensures tenant satisfaction and convenience. Recently landscaped toperfection, the property presents an inviting and well-kept exterior that sets thetone for the entire building.Given the strong demand in the area and the potential for market rent growth, theproperty offers significant upside. Currently fully leased, any future vacancy wouldpresent an opportunity to increase rental income by adjusting rents to prevailingmarket rates, thereby enhancing the overall return on investment.Located just minutes from the iconic Lake Merritt, residents enjoy easy access tovibrant city amenities, parks, and convenient transit options. This is an area withstrong demand for quality housing, and the opportunity for rent growth issubstantial. Whether you're looking for a
Location
State CA
County Alameda
Interior
Fireplace No
Exterior
Total Parking Spaces 4
Building
New Construction No
Others
Tax ID 0200170009
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Listed by Daniel Withers • Matthews Real Estate Investment Services