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Listed by Willem Bos • COMPASS
$ 3,525,000
Est. payment /mo
New
3128 Fruitvale Ave Oakland, CA 94602
14,871 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 14,871 sqft
Price per Sqft $237
Subdivision Oakland
MLS Listing ID 41149663
HOA Y/N No
Year Built 1950
Lot Size 0.459 Acres
Property Sub-Type 5 or More Units
Source Bridge AOR
Property Description
Renovated with huge upside: ownership has invested $492,707 in improvements since 2018, yet eight of the 14 apartments still rent below $1,300 a month, leaving 53% upside to market. The work includes six gut-remodeled units, new copper plumbing and a heat pump water heater, a sewer lateral, main electrical panels, a roof and a new parking lot. The property is Soft Story and SB 721 compliant. Offered at $3,525,000, a 6.02% current cap and 10.13 GRM, growing to a 10.36% cap and 6.69 GRM at market rents. This 18-unit mixed-use property in Oakland's Dimond District offers 14 apartments and 4 commercial storefronts across three buildings on a 20,000 SF lot with 14 surface parking spaces. The unit mix is seven 1BR/1BA units, seven 2BR/1BA units and four commercial suites. Just 0.2 miles to Farmer Joe's with easy access to I-580 and Fruitvale BART.
Location
State CA
County Alameda
Interior
Heating Natural Gas
Cooling Other
Flooring Laminate, Wood
Fireplace No
Building
Lot Description Rectangular Lot
Water Public
Others
Special Listing Condition Standard
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