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150 11th St
Oakland, CA 94607
8 Units Near Lake Merritt BART - 5 Vacant · Multifamily Property For Sale
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8 Units
PROPERTY FACTS
| No. Units | 8 | Building Size | 6,052 SF |
| Property Type | Multifamily | Average Occupancy | 25% |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid-Rise | Year Built | 1907 |
| Building Class | C | Parking Ratio | 10/1,000 SF |
| Lot Size | 0.04 AC | ||
| Zoning | D-LM-4 - Current zoning allows for up to 15.91 market rate apartment units or up to 31.82 market rate rooming units. (Buyer to verify) | ||
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 6,052 SF |
| Average Occupancy | 25% |
| No. Stories | 4 |
| Year Built | 1907 |
| Parking Ratio | 10/1,000 SF |
| Zoning | D-LM-4 - Current zoning allows for up to 15.91 market rate apartment units or up to 31.82 market rate rooming units. (Buyer to verify) |
AMENITIES
UNIT AMENITIES
- Heating
- Bay Window
- Kitchen
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
- Double Pane Windows
- Family Room
- Freezer
- Linen Closet
- Pantry
- Vinyl Flooring
SITE AMENITIES
- Controlled Access
- Laundry Facilities
- Vintage Building
ABOUT 150 11TH ST , OAKLAND, CA 94607
OPEN HOUSE TOUR SCHEDULE: Wednesday, February 12th from 12:00 PM to 1:00 PM Friday, February 14th from 12:0 PM to 1:00 PM CALL FOR OFFERS: Friday, February 14th by 3:00 PM CBRE, Inc. is pleased to offer for sale, 150 11th Street, an 8-unit value-add apartment building conveniently located in Downtown Oakland, just three blocks from Lake Merritt BART Station and three blocks from Lake Merritt shoreline. Delivered to investors and 1031 Exchange buyers, this ±6,052 Sq. Ft., 1907 vintage asset is comprised of an ideal unit mix of 1 X one-bedroom, one-bathroom unit and 7 X two-bedroom, one-bathroom units. The Property currently has five vacant units providing an opportunity to complete unit upgrades and take advantage of current market rate rents in Oakland, one of the most expensive rental markets in the United States. The property has also recently been repainted and a new fire alarm system has been installed. The current owner has applied for a capital improvement pass-through for these improvements that, upon approval from the City of Oakland, will provide additional revenue over the next 5-10 years. With in-place rents that average $2,400/month paired with five vacant units to work with, there is potential to stabilize the asset and generate fantastic cash flow in a core Downtown Oakland location.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+1 | 7 | - | - |
PROPERTY TAXES
| Parcel Number | 002-0081-005-00 | Improvements Assessment | $1,534,919 |
| Land Assessment | $795,900 | Total Assessment | $2,330,819 |
PROPERTY TAXES
