Multifamily For Sale

Overview

Highlights

• Procured several offers through an extensive marketing period
• Four ~1,000 SF 2-bedroom units plus one in-law unit
• Large lot presents a wealth of opportunity to add ADU's where three detached garages stand
• Pride of ownership asset with top of the line renovations and capital expenditures
• Sought after Adam's Point location one block from Sprouts shopping center
• Separately metered PG&E as well as individual water heaters for low operating expenses
• Owner-user opportunity in the vacant renovated 2-bedroom unit
• Two 2-bedroom units delivered vacant for buyer flexibility
• Substantial rental upside with a 6.6% cap rate on market rents
• First time being marketed in 20+ years

Description

Est. Rental Value $2,300 - $2,400

Unit A is a 2-bedroom, 1-bathroom unit located on the ground floor of the property.

Location

256 29th Street is located in Oakland's Adam's Point/ Westlake neighborhood. This highly sought after location is within walking/ biking distance to some of Oakland's top neighborhoods, including Grand Lake, Piedmont Avenue, and downtown. Tenants enjoy being one block from Grocery Outlet as well as a short walk to the shops on Broadway such as Sprouts, CVS Pharmacy, Starbucks, Chipotle, and many more. The commuter central location provides easy access to 19th Street BART, I-580, I-880, I-980, leading to main employment hubs in downtown Oakland, Berkeley, and San Francisco.

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