Multifamily For Sale

Overview

Highlights

• Ideal Oakland location just 2 blocks from Emeryville
• 14 Studio apartments, greatly increasing the price per square foot yield
• Walking distance to Bay Street and the Bay Bridge Shopping Center
• Transit-oriented location with easy access to Macarthur BART, Amtrak, and city bus lines
• Excellent in-place cash flow with significant growth potential

Description

The Mitchell Warren Team is pleased to present the closing of 3201 Adeline, a 14-unit multifamily property located in Oakland on the Emeryville border. The property consists of 14 studio apartments, greatly increasing the price/SF rental yield and lowering maintenance and utility expenses. The building sits above eight covered parking spaces, increasing the desirability for tenants and offering the owner an additional revenue source. The property offers updated units with on-site laundry and tenant storage lockers. In addition, the property offers a significant value-add component, allowing the new owner impressive upside potential upon unit turnover. This is truly a rare opportunity to purchase a well-located multifamily asset at a very low price per unit.

Location

3201 Adeline is located in Oakland's Clawson neighborhood just two blocks from Emeryville. Situated near the Bay Bridge Shopping Center, the property gives tenants the convenience of Target, Starbucks Coffee, Ikea, Best Buy, and much more all within walking distance. Tenants may also indulge in the best of Bay Street's restaurants and activities including the AMC Bay Street Movie Theater, Barnes and Noble, PF Chang's, and California Pizza Kitchen all just a short distance away.  Commuters will appreciate the proximity of city bus lines, Amtrak, and the Macarthur BART Station, which allows access to the entire Bay Area and more. This A+ transit-oriented location will continue to demand premium tenants and maintain a very low vacancy rate. 

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