Multifamily For Sale

Overview

Highlights

• Huge in-place cash flow with substantial future upside in rents
• Outstanding Old Oakland location adjacent to Swan's Market
• Significant capital improvements totaling over $1M
• 2 Large ground-floor commercial spaces
• 39 SRO (single-room occupancy) units
• 2 Commercial-grade kitchens located on both the second- and third-floor residential levels
• 4 Renovated restrooms located on both the second- and third-floor residential levels

Description

The Mitchell Warren Team is pleased to announce the sale of 524-530 8th Street, a 14,098 sq. ft. mixed-use building located in the thriving Old Oakland district. The building consists of two large ground-floor commercial spaces and thirty-nine micro-units. The commercial spaces are occupied by two local restaurateurs, further expressing Oakland’s vibrant community. On the second and third floor, the residential tenants enjoy the convenience of two large commercial kitchens and four updated restrooms. In addition, the property offers a new historically accurate facade and significant interior upgrades, making this a truly turn-key asset. This building provides a rare opportunity to acquire a stabilized asset in an A+ Oakland location.

Location

524-530 8th St is located in the heart of historic Old Oakland a thriving shopping and dining district with a growing list of restaurants, cafés, bars, shops and galleries. This attractive location is ideal for tenants commuting to all points of the Bay Area due to its central location right off the 880 freeway. Commuters utilizing public transportation will see the benefit of living a short walk to 12th Street BART and bus station (the major transportation hub of downtown). Because of this property's appealing location, it will continue to demand premium tenants and maintain a very low vacancy rate.

Contact Broker