2244 12th AVE, Oakland, CA 94606
2244 12th AVE, Oakland, CA 94606
2244 12th AVE, Oakland, CA 94606
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Steven Gary

Steven Gary

+1(408) 644-3287
Listed by Ray Rodriguez • Compass, DRE#01999734
$1,375,000
Est. payment /mo
2 Beds
1 Bath
5,495 SqFt
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UPDATED:

Key Details

Property Type Commercial

Sub Type Five or More Units

Listing Status Contingent

Purchase Type For Sale

Square Footage 5,495 sqft

Price per Sqft $250

MLS Listing ID ML82045784

Bedrooms 2

Full Baths 1

Year Built 1962

Lot Size 7,500 Sqft

Property Sub-Type Five or More Units

Property Description

Price Per Unit Under $200k. 2244 12th Avenue presents a seven-unit multifamily investment opportunity in Oakland's Clinton Neighborhood, a well-established rental pocket in the East Bay. Located on a corner lot with strong street presence, the property offers immediate access to Lake Merritt, Grand Avenue, Lakeshore dining and retail, Downtown Oakland employment hubs, and direct freeway access to I-580 and I-880. The asset consists of seven 2-bedroom/1-bathroom apartments across a two-story wood frame and stucco building totaling 5,495 sq ft, built in 1962 on a 0.17-acre lot. All units are individually metered for gas and electricity. Income is further supported by a double garage leased to an on-site tenant, five designated parking spaces offered to residents for a monthly fee, and a coin-operated laundry room generating supplemental income. Units are clean and fully rentable in their current condition, with clear value-add potential for an incoming owner to modernize interiors and bring rents to market at $2,200/month. Current cap rate of 7.81% with a pro forma cap rate of 9.52% at market rents. SB 721 inspection completed. Do Not Disturb Tenants.

Location

State CA

County Alameda

Area Oakland Zip Code 94606

Zoning RM-2

Rooms

Kitchen Oven Range - Electric

Interior

Heating Wall Furnace

Cooling Other

Flooring Vinyl / Linoleum

Laundry Coin Operated

Exterior

Exterior Feature Low Maintenance

Parking Features Assigned Spaces, Attached Garage, On Street, Uncovered Parking

Garage Spaces 2.0

Utilities Available Individual Electric Meters, Individual Gas Meters

Roof Type Flat / Low Pitch,Rolled Composition

Building

Foundation Concrete Slab

Sewer Sewer - Private

Water Private / Mutual

Others

Restrictions None

Tax ID 22-301-15

Security Features Other

Special Listing Condition Not Applicable

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Steven Gary

Steven Gary

+1(408) 644-3287

Realtor | License ID: 01895061

Realtor License ID: 01895061

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2244 12th AVE

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