28
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$1,195,000
Est. payment /mo
5,201 Sqft Lot
Price Dropped by $55K
1251 Macarthur Blvd Oakland, CA 94610
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Key Details
Property Type Single Family Home, Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Subdivision Lake Merritt
MLS Listing ID 41138117
HOA Y/N No
Year Built 1915
Lot Size 5,201 Sqft
Property Sub-Type Quadruplex
Property Description
$50,000 price reduction! www.1251MacArthur.com; 4-unit apartment complex with excellent cash flow in a high demand rental location near Lake Merritt. The current cap rate is 7.29% and the current GRM is 9.96! The property is 100% occupied and offers an ideal unit mix of one 3bd/2bth unit and three 2bd/1bth units. The property was originally built in 1915, offers approximately 4,236 square feet of rental space, and sits on a 5,200 square foot lot with ample room for parking. The units have been fully remodeled and offer new kitchens and bathrooms with new cabinets, stainless steel appliances, custom tile, wood floors, double pane windows, new paint, new lighting, and more. There are two separate buildings with a unique layout providing maximum space and privacy where each unit feels like it's own separate home. The two back units offer two levels and a nice townhome feel with bedrooms on the second level. The property is easy to manage and separately metered for PG&E providing for low annual operating expenses. The exterior and interior are in great condition with little deferred maintenance resulting in an attractive turn-key investment. The property is close to Lake Merritt with easy access to HWY 580 and the Grand Lake, Lower Dimond, and Laurel shopping districts. There are countless restaurants and coffee shops nearby with easy access to Downtown Oakland. BART, and other forms of public transportation.
Location
State CA
County Alameda
Interior
Heating See Remarks
Cooling See Remarks
Fireplace No
Exterior
Parking Features Other
Total Parking Spaces 4
Others
Tax ID 2348115
Listed by David Howarth The Pinza Group, Inc #01360348
NEARBY SCHOOL & BUSINESS
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