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About the Listing ML5012166 - ML5085267,ML5085268
Price Per Unit Under $200k. 2244 12th Avenue presents a seven-unit multifamily investment opportunity in Oakland's Clinton Neighborhood, a well-established rental pocket in the East Bay. Located on a corner lot with strong street presence, the property offers immediate access to Lake Merritt, Grand Avenue, Lakeshore dining and retail, Downtown Oakland employment hubs, and direct freeway access to I-580 and I-880. The asset consists of seven 2-bedroom/1-bathroom apartments across a two-story wood frame and stucco building totaling 5,495 sq ft, built in 1962 on a 0.17-acre lot. All units are individually metered for gas and electricity. Income is further supported by a double garage leased to an on-site tenant, five designated parking spaces offered to residents for a monthly fee, and a coin-operated laundry room generating supplemental income. Units are clean and fully rentable in their current condition, with clear value-add potential for an incoming owner to modernize interiors and bring rents to market at $2,200/month. Current cap rate of 7.81% with a pro forma cap rate of 9.52% at market rents. SB 721 inspection completed. Do Not Disturb Tenants.
Listing Highlights
Status
Active
Days on Site
16
Property Type
Commercial Sale
MLS ®
ML82045784
Year Built
1962
Total Square Footage
5,495
Lot/Acreage
0.17
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond:
- Heating: Wall Furnace
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 5
- Zoning: RM-2
- Roof: Flat
- Others:
- Sewer:
Financial Details
- Tax Amount: $17,571
- Taxes w/Assessments: N/A
- Tax/Property ID: 2230115
- Tax Year: N/A
Payment Calculator
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Questions About..
2244 12th Ave Oakland, CA 94606
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