Mark|Davis Group of Compass Commercial is pleased to offer for sale this three (3) unit multifamily investment opportunity located at 2422 E. 24th Street, in the City of Oakland. This two-story building, consisting of two separate structures, was constructed of wood frame and stucco on a raised foundation built in 1902 with a square footage of 2,364 on a 4,920-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 one (1) 5+2 unit, one (1) 4+2 unit, 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, three (3) in unit laundry machines, updated copper plumbing, double pane windows, recently painted, and individually metered for gas and electricity.
Well positioned within Oaklands’ continuously gentrifying submarket, this investment presents an excellent opportunity for an investor to capitalize on a densely populated affluent area that continues to experience rapid rent growth. The investment is a current 7% Cap Rate with extremely high yields of return.
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.
