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$745,000
Est. payment /mo
3,998 Sqft Lot
UPDATED:
12/05/2024 03:26 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 41070061
HOA Y/N No
Year Built 1906
Lot Size 3,998 Sqft
Property Description
www.pinzaoaklandportfolio.com; The Pinza Group is pleased to present 515 E 11th St, a distinguished five-plex in Oakland's sought-after Merritt neighborhood. The property offers three expansive studios and two 2bd/1bth units. Its strategic location near the Lake Merritt BART station positions it as an attractive option for commuters. The one studio unit, set to be delivered vacant, presents a perfect opportunity for both new investors aiming for owner occupancy through a low downpayment loan and seasoned investors looking to capitalize on market-rate rents. The current rental rates, set at approximately 40% below market, unveil a substantial opportunity for significant rental upside upon turnover, capital improvement pass-throughs, or tenant buy-outs. This property stands as an excellent investment avenue with a clear upside for growth, suitable for both established investors and those seeking an owner-occupied investment. Current GRM 9.32; Market GRM 6.02; Email agent on property website for more info.
Location
State CA
County Alameda
Interior
Heating See Remarks
Cooling See Remarks
Fireplace No
Exterior
Total Parking Spaces 3
Building
Water Other
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Listed by Steven Pinza • The Pinza Group, Inc
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Scott Woodburn
Real Estate Professional Knowledge Broker | License ID: 01185194
Real Estate Professional Knowledge Broker License ID: 01185194