2831 Martin Luther King Jr Way, Oakland, CA 94609
- $799,000
Listed by Christopher Paratore, (650) 302-0992 from BHHS Drysdale Alameda
(If provided) CoList: from
- List Price
- $799,000
- Price Change
- ▼ $50,000 1783725925
- MLS#
- EB41137937
- Status
- ACTIVE
- Lot Size
- 2,520
- Listing Area
- Oakland Zip Code 94609
- Year Built
- 1912
Property Description
Exceptional opportunity to acquire a fully occupied 5-unit apartment building in one of North Oakland's most sought-after rental markets, offered at $799,000. The property features an excellent unit mix of four 1-bedroom/1-bath units and one 2-bedroom/1-bath unit, providing stable in-place income and broad tenant appeal. This well-maintained asset has benefited from significant recent capital improvements, including remodeled units, a newer roof, and fresh exterior paint, allowing investors to acquire a turnkey property with reduced near-term capital expenditures. Separately metered PG&E service allows tenants to pay their own gas and electricity, helping improve operating efficiency. Ideally situated just minutes from the Temescal District, MacArthur BART Station, UC Berkeley, Emeryville, Downtown Oakland, Kaiser Permanente, and major freeways, the property enjoys strong rental demand driven by convenient access to employment centers, shopping, dining, and public transportation. The property is 100% occupied and generates approximately $89,523 in annual scheduled rental income, providing immediate cash flow from the first day of ownership. Whether you're completing a 1031 exchange, expanding an existing portfolio, or acquiring your first multifamily investment, this property o
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Additional Information
- Acres
- 0.06
- Amenities
- None
- Cooling System
- None
- Exterior Features
- Stucco
- Floor Covering
- Laminate, Hardwood
- Heating System
- Electric
- Lot Size
- 2,520
- Neighborhood
- Oakland Zip Code 94609
- Numberof Units
- 5
- Unincorporated Yn
- Yes
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