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2244 12Th Ave Oakland, CA 94606

For Sale
$1,400,000

Seven-unit property near Lake Merritt with value-add potential.

Lot size:
0.17 Acres

Property Features for 2244 12Th Ave

General Information

Lot size
0.17 Acres

Building Details

Year built
1962

Source: BCRE Agent Davide Pio

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Oakland Multifamily Investment Opportunity

The property at 2244 12th Avenue features seven units, each with two bedrooms and one bathroom. The building has been well-maintained and upgraded, with improvements including city-required point of sale ordinances such as sewer lateral replacement, fire inspection compliance, sidewalk repairs, and soft story list removal. A two-car garage, a small parking lot, and a leased laundry room provide additional income. The property is a turn-key investment with potential for increased rents through light remodeling in some units. Located on the Clinton / Bella Vista neighborhood border, the property is near local businesses east of Lake Merritt. Highway 580 and 880 are a short drive away, providing access to San Francisco, Berkeley, and Silicon Valley. The current capitalization rate is 6.42%, with a gross rent multiplier of 8.83. The proforma capitalization rate is 8.47%, and the proforma gross rent multiplier is 7.32.
Insight Report Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Oakland
County
Alameda
State
California
Longitude
-122.2398453
Latitude
37.7962322

FAQs

What type of property is this?
Apartment building - Seven-unit property near Lake Merritt with value-add potential.
Where is this apartment building located?
The property is located at 2244 12Th Ave Oakland, CA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: - High current Cap Rate of 6.42% with potential to increase to 8.47% (Proforma).; - Seven large 2 bed / 1 bath units offering substantial rental income potential.; - Well-maintained and upgraded property, including compliance with city ordinances.
More about this property
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