2244 12th Avenue, Oakland, CA 94606
List Price: $1.38M
Listing Status: Active
0Days on Market: 0
0 Bedrooms · 0 Bathrooms
Property Type: CommercialSale
Year Built: 1962
Lot Size: 7,500 sq ft
Annual Property Tax: $17,571
MLS Number: ML82045784
About This Property
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 provided by: Ray Rodriguez DRE #01999734 (415) 345-3000 ray.rodriguez@compass.com, Compass
Source: CRMLS, MLS #: ML82045784
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.