465 40Th St Oakland, CA 94609

Property Details for 465 40Th St

Year built

1924

Property size

3,836 SF

Property type

Commercial real estate

Description

This exceptional four-unit apartment building presents a compelling investment opportunity in Oakland's desirable Temescal neighborhood. Built in 1924, the property boasts 3,836 square feet situated on a 5,733 square foot lot. Each of the four units is a spacious one-bedroom, one-bathroom apartment, updated with modern amenities including in-unit washer/dryers. Individual utility metering minimizes operating expenses, enhancing profitability. Adding to the property's appeal is secure on-site parking and a recently installed electric gate, providing both tenant security and potential for additional income streams. The property's strategic location offers easy access to major employment centers, a vibrant array of shops and restaurants, and excellent public transportation via the nearby MacArthur BART station. Convenient freeway access to I-580, I-24, I-880, and I-80 further enhances its desirability. The asking price is $1,499,500, representing a price per unit of $374,875 and a price per square foot of $390. The property's strong performance is reflected in its pro-forma NOI of $76,975 and a 5.13% cap rate. This multifamily property is an ideal addition to any investor's portfolio seeking strong returns and a prime location in the thriving Oakland market. The property's address is 465 40th Street, Oakland, CA 94609.