540-546 34th St
Oakland, CA 94609
Multifamily Property For Sale · 4 Units

IN CONTRACT, REVIEWING BACKUPS - 4 UNIT NEAR BART 540-546 34th St is a 4-unit apartment building conveniently located on the border of Oakland's trendy and amenity rich Temescal neighborhood. The asset was built in 1918 and features a unit mix of 3 large 2 BR, 1 BA units and 1 large 3 BR, 1BA unit. Every unit is between ± 1,000-1,334 SF and contains its own in-unit washer/dryer and gas water heater. All units also feature dual pane windows throughout, hardwood floors throughout, crown molding, baseboards and original character throughout. The property is fully parked as each unit has an assigned off-street parking space. Each unit is also individually metered for gas and electric, and submetered for water, leaving very few operating expenses for the owner. Perfect for Investors, 1031 Exchange Buyers and Owner Occupiers, this property will be delivered with 1 vacant unit allowing quick capitalization on the properties existing upside potential. With rents that are roughly 19% below market rate, investors will have the potential to increase the net operating income of the investment by more than 41% by stabilizing the asset. 540-546 34th Street is located off Telegraph Avenue on the border of one of Oakland' s most up and coming neighborhoods - the Temescal District. Becoming well known for its shops and restaurants, the Temescal District offers the residents of 540-546 34th Street several dining options such as Burma Superstar, Beauty' s Bagel Shop, Homeroom, The Hog' s Apothecary and many shopping opportunities including Tip Top Bike Shop, Guitar-O-Rama, and The Wine Mine. The property is walking distance to the thriving Uptown District, an Oakland neighborhood recognized for its entertainment options, such as Fox Theater and Paramount Theater, and its restaurants including Hopscotch, Flora and Ozumo. The property also provides easy access to Broadway Avenue which is the middle of a development renaissance with more than 3,400 apartment units and more than 300,000 sq. ft. of commercial space proposed, approved or under construction. The asset is walking distance to MacArthur BART station and 4 AC Transit bus lines. Tenants can also enjoy easy access to Interstate 580, 80 and Highway 24, providing direct and speedy access to San Francisco and almost the entire East Bay.