410 Fairmount ave Active

Oakland,CA 94611

$ 3700000

- Bed

0 Bath

- SqFt


Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 41068920

HOA Y/N No

Year Built 1926

Lot Size 7,248 Sqft

Property Description

New electrical sub and main panels! 410 Fairmount Avenue is a desirable eighteen-unit apartment building consisting of a strong unit mix, including (2) Well-maintained studios, (10) large one-bedroom units, and (6) functionally designed two-bedroom units. With extensive capital improvements, including bringing all electrical panels up to date, replacing the main panel, individually meeting each unit, and fully seismically upgrading the building, this is a stable and easy-to-manage asset for any investor. In addition, 410 Fairmount is located directly above the sprawling Lake Merritt Recreation Center in Oakland, making this a highly sought-after tenant location. With day-one solid cash flow and a sizable amount of rental growth potential, this is a safe and secure asset for any investor looking for a long-term hold and priced well below comps at only an 8.8 GRM and over a 6.3% in-place CAP rate.

Location

State CA

County Alameda

Interior

Heating See Remarks

Cooling See Remarks

Fireplace No

Exterior

Total Parking Spaces 9

Building

Water Other

Others

Tax ID 1080913

View More
Favorite Go Tour