3281 M L King Jr Way

    Oakland, CA 94609
    • $1,199,000
    • STATUS: Active
    • ON SITE: 22 days
    • ID#: EB40904300
    UPDATED: 43 min ago
    $1,199,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1903
    County:

    School Ratings & Info

    Description

    There is no better time than now to do a remodel project. The City of Oakland has approved the plans to develop this building into 3 units and a commercial store with 5 parking on the back. A structural engineering company has inspected the building and found it structurally sound. Construction drawings are ready. You will save 2 years of run around with the city of Oakland to get approvals and save $100K cost. This is commercial property grandfathered as residential so one can use this as commercial or residential. There is plenty of space in the back to add more sq ft instead of parking space later. Given the rental potential for units and shop, it is priced for buyer to get 7% cap rate return. After remodel, this could give you rental income of $14,000-15,000/month. MacArthur Bart Station is only 0.6 miles away giving you access to the entire Bay area and its airports. The bay bridge is 3 miles and an elementary school is a block away.

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    © 2020 MLSListings Inc. Based on information from MLSListings MLS as of 2020-06-02T11:47:35.297. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. DX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Real Estate Experts.

    Licensed in the State of California.
    www.siliconvalleyrealestatesearch.com/homes/105726018

    3281 M L King Jr Way Oakland, CA 94609

    • Price: $1,199,000
    • Status: Active
    • Updated: 43 min ago
    • ID#: EB40904300
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1903
    Built
    Neighborhood:
    Oakland Zip Code 94609
    County:
    Alameda
    Area:
    Oakland Zip Code 94609
    Property Description
    There is no better time than now to do a remodel project. The City of Oakland has approved the plans to develop this building into 3 units and a commercial store with 5 parking on the back. A structural engineering company has inspected the building and found it structurally sound. Construction drawings are ready. You will save 2 years of run around with the city of Oakland to get approvals and save $100K cost. This is commercial property grandfathered as residential so one can use this as commercial or residential. There is plenty of space in the back to add more sq ft instead of parking space later. Given the rental potential for units and shop, it is priced for buyer to get 7% cap rate return. After remodel, this could give you rental income of $14,000-15,000/month. MacArthur Bart Station is only 0.6 miles away giving you access to the entire Bay area and its airports. The bay bridge is 3 miles and an elementary school is a block away.
    Exterior Features

    Building Type Apartment Complex Exterior Other Garage Parking Parking Area Lot Description Other Lot Location Corner Roof Composition Units In Complex Max 4 View Other

    Interior Features

    Additional Rooms Basement - Apartment Cooling Other Flooring Other Laundry Other Structure Sq Ft 4075

    Property Features

    Additional Listing Info Not Applicable Amenities None City Name Oakland Cross Street 33rd St Hoa Amenities None Lot Size Area Maximum 5100.00 Meters Separate Other Sewer Septic Sewer - Public Water Public

    © 2020 MLSListings Inc. All rights reserved. Listing provided courtesy of Jonathan Minerick of Homecoin.Com.


    © 2020 MLSListings Inc. Based on information from MLSListings MLS as of 2020-06-02T11:47:35.297. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. DX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Real Estate Experts.

    Licensed in the State of California.
     
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