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Listed by Jatin Mehta • Kite Hill Real Estate
$ 798,000
Est. payment | /mo
2,979 SqFt
$ 798,000
Est. payment | /mo
2,979 SqFt
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 2,979 sqft
Price per Sqft $267
Subdivision Oak Center
MLS Listing ID 41125772
HOA Y/N No
Year Built 1885
Lot Size 5,188 Sqft
Property Sub-Type 5 or More Units
Source Bridge AOR
Property Description
769 17th Street presents a rare opportunity to acquire a 5-unit income property in Oakland's coveted Oak Center neighborhood. The property delivers an exceptional unit mix of four 2-bed/1-bath units and one 1-bed/1-bath unit — four on public record plus a fifth non-conforming unit — spanning 2,979 square feet on a 5,188 square foot lot. Thoughtfully updated interiors and sewer lateral compliance minimize near-term capital requirements and reduce due diligence risk, allowing an incoming investor to focus immediately on revenue growth. With three of five units delivered vacant at close of escrow, an investor has the rare ability to set market-rate rents from day one with zero tenant displacement concerns. Projected annual income of $93,828 ($7,819 per month) upon lease-up of the currently vacant units.. The property also features a rear yard and bonus space with the potential to add an additional unit, further maximizing long-term returns (buyer to verify).
Location
State CA
County Alameda
Interior
Heating Natural Gas
Cooling None
Flooring Wood
Fireplace No
Building
Lot Description Rectangular Lot, Paved
Others
Special Listing Condition Standard
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Vander Meulen Real Estate Group
Broker, REALTOR® | Lic# 00842213 | Lic# 02150745