$ 3,700,000
410 Fairmount ave Oakland, CA 94611
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$ 3,700,000
Est. payment | /mo
7,248 Sqft Lot
$ 3,700,000
Est. payment | /mo
7,248 Sqft Lot
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 41068920
HOA Y/N No
Year Built 1926
Lot Size 7,248 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 See Remarks
Cooling See Remarks
Fireplace No
Exterior
Total Parking Spaces 9
Building
Water Other
Others
Tax ID 1080913
Listed by Willem Bos • COMPASS
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Phillip Nunez
REALTOR® | Lic# 01421807