515 E 11th St Active

Oakland,CA 94606

$ 745000

- Bed

- Bath

3181 SqFt


Key Details

Property Type Commercial

Sub Type 5 or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 3,181 sqft

Price per Sqft $234

MLS Listing ID 41070061

HOA Y/N No

Originating Board Bridge AOR

Year Built 1906

Lot Size 4,000 Sqft

Property Description

www.pinzaoaklandportfolio.com; The Pinza Group is pleased to present 515 E 11th St, a distinguished five-plex in Oakland's sought-after Merritt neighborhood. The property offers three expansive studios and two 2bd/1bth units. Its strategic location near the Lake Merritt BART station positions it as an attractive option for commuters. The one studio unit, set to be delivered vacant, presents a perfect opportunity for both new investors aiming for owner occupancy through a low downpayment loan and seasoned investors looking to capitalize on market-rate rents. The current rental rates, set at approximately 40% below market, unveil a substantial opportunity for significant rental upside upon turnover, capital improvement pass-throughs, or tenant buy-outs. This property stands as an excellent investment avenue with a clear upside for growth, suitable for both established investors and those seeking an owner-occupied investment. Current GRM 9.32; Market GRM 6.02; Email agent on property website for more info.

Location

State CA

County Alameda

Interior

Heating Other

Cooling Other

Flooring Other

Fireplace No

Exterior

Parking Type Other

Building

Lot Description Other

View More
Favorite Go Tour