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Listed by Willem Bos, DRE #02013980 • COMPASS
$2,575,000
Est. payment /mo
10,486 SqFt
Active
1142 McKinley Ave Oakland, CA 94610
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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 10,486 sqft
Price per Sqft $245
MLS Listing ID EB41142132
Year Built 1929
Lot Size 4,570 Sqft
Property Sub-Type Five or More Units
Source Bridge MLS
Property Description
1142 McKinley Avenue, a well-maintained 13-unit multifamily investment opportunity located in Oakland's highly desirable Cleveland Heights neighborhood. This classic 1929 Mediterranean-style building offers an attractive unit mix of twelve one-bedroom/one-bath apartments and two studio apartments, providing a diverse tenant base in one of Oakland's strongest rental markets. The property generates strong in-place income while still offering approximately 11.6% rental upside through natural turnover, creating an excellent opportunity for both immediate cash flow and long-term value appreciation. Current financials reflect an attractive 7.04% CAP rate and 8.13 GRM at the asking price. Ideally situated just blocks from Lake Merritt, Grand Lake, Lakeshore Avenue, shopping, restaurants, cafes, and public transportation, the property offers residents exceptional walkability and convenient access to Downtown Oakland, Interstate 580, Interstate 880, and Lake Merritt BART. The location continues to attract strong tenant demand due to its proximity to employment centers, recreation, and neighborhood amenities. With over 10,400 square feet of building area on a 4,570-square-foot lot, this asset presents an excellent opportunity for investors seeking stable income with future upside in one
Location
State CA
County Alameda
Area Oakland Zip Code 94610
Interior
Cooling Other
Flooring Carpet - Wall to Wall, Hardwood
Laundry Washer/Dryer - Owned, Community Facility
Exterior
Exterior Feature Stucco
Garage Spaces 9.0
Others
Special Listing Condition Not Applicable
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