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Key Details
Sold Price $850,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Subdivision Fruitvale
MLS Listing ID 41035599
Sold Date 10/19/23
HOA Y/N No
Year Built 1957
Lot Size 0.320 Acres
Property Description
This 6-unit property presents an exciting investment opportunity for developers seeking to maximize their returns. Not only does it offer the potential to add seven more units, but it also allows you to benefit from the existing cash flow. The property consists of (6) 2-bedroom, 1-bathroom units, all of which are occupied by long-term tenants. The property's location in the "OPPORTUNITY ZONE" further adds to its appeal, as it is zoned for a total of thirteen units, and preliminary design review documents have already been submitted to the City of Oakland. Its highly accessible position near transit, BART, and freeways enhances the investment potential of this project. Moreover, investors interested in taking advantage of tax breaks for properties within the Oakland Opportunity Zone will find this property particularly attractive. Positioned in the upper Fruitvale area, it is conveniently less than 1 mile away from BART, offering transportation options like the nearby Fruitvale Station (0.9 miles away) and Oakland International (6.9 miles away). Notably, the property is separately metered for electricity and gas, while the owner covers the cost of water and garbage.
Location
State CA
County Alameda
Interior
Heating See Remarks
Flooring Laminate
Fireplace No
Exterior
Garage On Street
Parking Type On Street
Total Parking Spaces 18
Building
Sewer Public Sewer
Others
Tax ID 025073301000
Acceptable Financing Conventional
Listing Terms Conventional
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Bought with Hamid Zahir • Reliance Bay Realty
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Monique H. Ott-Beacham
Broker | License ID: DRE #01448692
Broker License ID: DRE #01448692