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450 Merritt Ave
Oakland, CA 94610
**$283/PSF TWO BLOCKS TO LAKE MERRITT** · Multifamily Property For Sale
·
9 Units
INVESTMENT HIGHLIGHTS
- Fantastic Cleveland Heights location just one block from Lake Merritt
- Just blocks from both Lakeshore Avenue and Grand Avenue
- 10 Garage spaces with additional surface spots
- Massive +/- 1,050-1,260 square foot 2 bedroom, 2 bathroom units
- Easy access to the Lake Merritt BART Station and City Bus Lines
- Amenities include on-site laundry rooms, tenant storage lockers, and balconies with sweeping views
PROPERTY FACTS
| No. Units | 9 | Lot Size | 0.19 AC |
| Property Type | Multifamily | Building Size | 12,344 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1957 |
| Building Class | C | Parking Ratio | 0.81/1,000 SF |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 12,344 SF |
| No. Stories | 3 |
| Year Built | 1957 |
| Parking Ratio | 0.81/1,000 SF |
AMENITIES
UNIT AMENITIES
- Balcony
- Heating
- Carpet
- Breakfast Nook
- Deck
- Dining Room
- Window Coverings
SITE AMENITIES
- Laundry Facilities
- Trash Pickup - Curbside
- Storage Space
ABOUT 450 MERRITT AVE , OAKLAND, CA 94610
**SHOWING WEDNESDAY 02/19 FROM 11 AM-12 PM** The Mitchell Warren Team is pleased to present 450 Merritt Avenue, a nine-unit multifamily property located in the heart of Oakland's Cleveland Heights neighborhood. The property consists of six ~1,260 square foot 2 bedroom, 2 bathroom units and three ~1,050 square foot 2 bedroom, 1.5 bathroom units. The building sits above ten garage spaces, increasing the desirability for tenants and offering the owner an additional revenue source. The property offers on-site laundry, tenant storage lockers, and balconies with sweeping views. In addition, the property offers a significant value-add component allowing the new owner impressive upside potential upon unit turnover and capital improvement work. This is truly a rare opportunity to purchase a trophy asset in an A+ location. 450 Merritt Avenue is located in the beautiful Cleveland Heights Neighborhood of Oakland just one block from Lake Merritt. Situated just blocks from both Lakeshore Avenue and Grand Avenue allow tenants the convenience of Trader Joe's, Starbucks Coffee and various cafes and shops all within walking distance. Tenants may also indulge in the best of Oakland’s restaurants and nightlife including the charming Grand Lake Theatre just a short distance from the property. Commuters will appreciate the close proximity of city bus lines and the Lake Merritt BART Station which allows access to the entire bay area. This A+ location will continue to demand premium tenants and maintain a very low vacancy rate.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 9 | - | 1,050 - 1,260 |
PROPERTY TAXES
| Parcel Number | 023-0416-010-01 | Improvements Assessment | $289,719 |
| Land Assessment | $345,629 | Total Assessment | $635,348 |
PROPERTY TAXES
