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Listed by Christopher Paratore, DRE #01955016 • BHHS Drysdale Alameda
$799,000
Est. payment /mo
3,420 SqFt
Price Dropped by $50K
2831 Martin Luther King Jr WAY Oakland, CA 94609
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Key Details
Property Type Multi-Family, Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 3,420 sqft
Price per Sqft $233
MLS Listing ID EB41137937
Year Built 1912
Lot Size 2,520 Sqft
Property Sub-Type Five or More Units
Source Bridge MLS
Property Description
Exceptional opportunity to acquire a fully occupied 5-unit apartment building in one of North Oakland's most sought-after rental markets, offered at $799,000. The property features an excellent unit mix of four 1-bedroom/1-bath units and one 2-bedroom/1-bath unit, providing stable in-place income and broad tenant appeal. This well-maintained asset has benefited from significant recent capital improvements, including remodeled units, a newer roof, and fresh exterior paint, allowing investors to acquire a turnkey property with reduced near-term capital expenditures. Separately metered PG&E service allows tenants to pay their own gas and electricity, helping improve operating efficiency. Ideally situated just minutes from the Temescal District, MacArthur BART Station, UC Berkeley, Emeryville, Downtown Oakland, Kaiser Permanente, and major freeways, the property enjoys strong rental demand driven by convenient access to employment centers, shopping, dining, and public transportation. The property is 100% occupied and generates approximately $89,523 in annual scheduled rental income, providing immediate cash flow from the first day of ownership. Whether you're completing a 1031 exchange, expanding an existing portfolio, or acquiring your first multifamily investment, this property o
Location
State CA
County Alameda
Area Oakland Zip Code 94609
Interior
Heating Electric
Cooling None
Flooring Laminate, Hardwood
Exterior
Exterior Feature Stucco
Garage Spaces 2.0
Building
Water Heater - Electric
Others
Special Listing Condition Not Applicable
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