Commercial Investment Group is pleased to offer for sale this fifty-five (55) unit multifamily investment opportunity located at 2000 36th Avenue, in the City of Oakland. This two-story building was constructed of wood frame and stucco on a raised foundation built in 1959 with a square footage of 30,368 on a 52,000-square foot lot. The building has been reinforced and upgraded in compliance with the latest city codes and regulations, and is comprised of a remarkable unit mix, consisting of fifty-four (54) 1+1 units, and one (1) 2+1 unit. The subject property is 100% occupied, and is subject to the City of Oakland rent control regulation.
The investment boasts spacious floor plans, secured gated entry, an on-site laundry room for additional income, forty-eight (48) on-site parking spaces, updated copper plumbing, and individually metered for gas and electricity.
Well positioned within Oaklands’ continuously gentrifying sub-market, this investment presents an excellent opportunity for an investor to capitalize on a densely populated affluent area that continues to experience rapid rent growth. This opportunity represents a significant value-add play in a quickly developing neighborhood, which has seen consistent rental increases in the wake of rising costs in San Francisco and the Lake Merritt area of Oakland. Additionally, the property is a strong candidate for conversion into affordable housing.
PLEASE NOTE THE FOLLOWING:
1) DO NOT DISTURB THE TENANTS.
2) Submit Offer on a CAR Residential-Income Purchase Agreement.
3) Interior Inspection/Books & Records Granted with an Accepted Offer.
4) Submit Proof of Funds & Pre-Qualification Letter with Offer.
5) Seller Selects all Services
Disclaimer: All information has been secured from sources we believe to be reliable. However, we make no representation or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information above and bears all risk for any inaccuracies.
