1528 Alice St - Apartments FOR SALE


Oakland, CA 94612- Lakeside
$2,598,000 USD
510-304-8077
1528 Alice St, Oakland, CA for Sale
$2,598,000 USD
Apartments - FOR SALE
1/16
null | 6.17% Cap Rate

1528 Alice St
Oakland, CA 94612
Lakeside


HIGHLIGHTS

  • Investors have the opportunity to acquire a value-add multifamily asset in one of the most dynamic and desirable locations in Oakland, CA.
  • The subject property offers tenants beautifully designed two-bedroom and one-bedroom floor plans.
  • 1528 Alice St offers tenants convenient community amenities such as on-site laundry, bicycle parking, and a common backyard area.
  • The subject property is located in Lakeside, a family friendly community positioned just west of Lake Merritt and east of Downtown Oakland.

OVERVIEW

1528 Alice St is an exceptional 12-unit value-add investment opportunity located in the thriving city of Oakland, California. Situated on a 6,700 square foot parcel of land, the subject property was originally constructed in 1910 and has a gross building area of approximately 9,721 square feet, offering its tenants beautifully designed two-bedroom and one-bedroom floor plans. The subject property offers tenants convenient community amenities such as on-site laundry, bicycle parking, and a common backyard area. The property is located in the exceptional neighborhood of Lakeside, a family friendly neighborhood positioned just west of Lake Merritt. One of the most unique neighborhoods in all of Oakland, Lakeside combines the exciting urban life of Downtown Oakland with the peaceful suburban feel of Lake Merritt. The city of Oakland is the eighth-largest city by population in California, and the county seat of Alameda County. It is the largest city within the East Bay and has a large concentration of tech, healthcare, and banking companies around the area including Kaiser Permanente, Sutter Health, Pandora, Wells Fargo as well as many others. Oakland offers convenient access to several transportation corridors including the San Francisco - Oakland Bay Bridge, Interstate 880 and several nearby BART stations to easily reach anywhere within the Bay Area. Oakland also serves as the trade center for the entire Bay Area with the Port of Oakland being the busiest port in all of Northern California. The investment appeal of this asset is driven by Oakland’s strong employment fundamentals and low vacancy levels. With a world-class location in the heart of the East Bay, 1528 Alice St presents an attractive choice for investors due to its close proximity to major employers, transportation corridors, shopping, dining and entertainment options.

FOR SALE DETAILS

PRICE

$2,598,000 USD

PRICE/SF

$267 USD /SF

# OF UNITS

12

PRICE/UNIT

$216,500

CAP RATE

6.17%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lake Merritt Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

R-90, Oakland

APN/PARCEL ID

008-0627-033-00

ASK ABOUT THIS PROPERTY

Robert JohnstonLevin JohnstonMore Info
510-304-8077

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Robert JohnstonLevin JohnstonMore Info
510-304-8077

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.