2450 Martin Luther King Jr Way
Oakland, CA 94612

Details

10-unit West Oakland mixed-use investment offering five commercial units and five residential units with excellent upside. Current Cap Rate: 7.62%, Market Cap Rate: 13.29%, Current GRM: 8.27, Market GRM: 5.56. The property was originally built in 1970, offers approximately 3,200 square feet of rental space, and sits on a 4,784 square foot lot with multiple off-street parking spaces. The property is easy to manage and separately metered for PG&E providing low annual operating expenses. The exterior and interior are in good condition, with no deferred maintenance, making this an easy building to manage. Two commercial units and one residential unit can be delivered vacant or leased at market rate before the close of escrow offering maximum flexibility. The current tenants are stable with rents 50% below market providing for huge rental increases upon move-out or buyouts. This is an attractive Oakland location only a short distance to Downtown Oakland, Temescal, Berkeley, multiple BART stations, and San Francisco. Nearby there are countless restaurants, coffee shops, micro-breweries, and shopping options.

- 10-Unit Mixed-Use Investment Comprised of Five
Commercial Units and Five Residential Units with
Excellent Upside

- Two Commercial Units and One Residential Unit can be
Delivered Vacant or Leased at Market Rent at Closing

- Current Rents 50% Below Market Rate, Providing Huge
Opportunity for Rental Upside Upon Turnover or Buyouts

- Low Maintenance Property Separately Metered For PG&E
with Low Annual Operating Expenses

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Contact

Feel free to contact us for more details!

David Howarth

David Howarth

The Pinza Group (DRE: 01941229)

DRE #: 01360348
The Pinza Group (DRE: 01941229)