2450 Martin Luther King Jr Way, Oakland
Oakland Home For Sale
www.2450mlk.com; 10-unit West Oakland mixed-use investment offering five commercial units and five residential units with excellent upside. Current Cap rate: 8.80%, Current price/unit: $99,500! The property was originally built in 1970, offers approximately 3,200 square feet of rental space, and sits on a 4,784 square foot lot with multiple off-street parking spaces. The commercial units are large and in rent-ready condition. The residential units include four studio units and one 1bd/1bth unit. The property is easy to manage and separately metered for PG&E providing low annual operating expenses. The exterior and interior are in good condition, with no deferred maintenance, making this an easy building to manage. Two commercial units and one residential unit can be delivered vacant or leased at market rate before the close of escrow offering maximum flexibility. The current tenants are stable with rents 50% below market providing for huge rental increases upon move-out or buyouts.
Property Details
Additional Information
-
- City:
- Oakland
-
- County:
- Alameda
-
- Zip:
- 94612
-
- MLS® #:
- 41064898
-
- Lot Size:
- 0.11
-
- HOA Dues:
- $
Price Change History for 2450 Martin Luther King Jr Way, Oakland, (MLS® #41064898)
| Date | Details | Price | Change |
|---|---|---|---|
| Price Reduced (from $1,150,000) | $995,000 | $155,000 (13.48%) |
Based on information from California Regional Multiple Listing Service, Inc. as of July 26th, 2024 at 1:45am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.