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Listed by Eymon Binesh • Marcus & Millichap
$ 2,998,000
Est. payment | /mo
9,482 SqFt
$ 2,998,000
Est. payment | /mo
9,482 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 9,482 sqft
Price per Sqft $316
MLS Listing ID ML82027846
HOA Y/N No
Year Built 1925
Lot Size 4,120 Sqft
Property Sub-Type Other
Source Datashare MLSListings
Property Description
Marcus & Millichap is pleased to present 570 Grand Avenue, a 13-unit apartment community located in Oaklands highly desirable Grand Lake district, just steps from Lake Merritt. The property consists of seven 1-bedroom/1-bath units, four 2-bedroom/1-bath units, one 3-bedroom/1-bath unit, and one studio. Offering a strong in-place 6.80% CAP rate and 8.91 GRM, the asset provides immediate cash flow with significant upside through targeted capital improvements and unit renovations. Nearly every apartment enjoys sweeping views of beautiful Lake Merritt, and the property is within easy walking distance to the best of Adams Point vibrant restaurants, cafes, and boutique shops. This is an exceptional opportunity to own a well-located, high-performing asset in one of Oakland's most sought-after neighborhoods.
Location
State CA
County Alameda
Interior
Heating Natural Gas
Cooling None
Fireplace No
Appliance Refrigerator
Laundry Coin Operated
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Vander Meulen Real Estate Group
Broker, REALTOR® | Lic# 00842213 | Lic# 02150745