2945 McClure St - Apartments FOR SALE


Oakland, CA 94609
$5,200,000 USD
415-229-1245
2945 McClure St, Oakland, CA for Sale
$5,200,000 USD
Apartments - FOR SALE
1/21
null | 5.95% Cap Rate

2945 McClure St
Oakland, CA 94609


HIGHLIGHTS

  • 24 Units - 11 Units Beautifully Updated in Last 14 Months
  • Secured Covered Garage with Parking for 22 Single Cars, 2 Tandem & 1- 3 Motorcycles
  • Separately Metered for Electricity & Separate Heat
  • Recently Installed New Secure Mailboxes in Interior Lobby
  • Stable Long-Term Tenants Showing an Estimated 32+% Upside with Rental Turnover
  • Primarily Residential Neighborhood with Close Proximity to a Plethora of Medical Offices, Hospitals, Shops, Bars & Restaurant

OVERVIEW

2945 McClure Street is a well maintained 24-unit apartment building with secure entry to enclosed parking, mail delivery and a laundry facility in the well-known Pill Hill neighborhood of Oakland. The Unit mix includes 1 two bedroom with balcony, 21 one bedrooms, of which 2 have balconies & 2 studios with balconies. All units have ample closet space, storage & eat in kitchens. 11 of the units have been significantly renovated with tasteful upgrades. New vinyl laminate wood flooring, new interior doors & fixtures, new cabinets, quartzite counter tops, stainless steel appliances, dishwashers , microwave ovens, garbage disposals plus freshly updated bathrooms. Covered garage has secure parking for 22 single cars including 2 single car tandem slots and/or 1-3 additional motorcycle spaces. Apartment units are all-electric, separately metered, with tenants paying their own electricity & electric heat. Owner pays for water, garbage, & gas services to provide hot water in the building. It is a secure building with common area laundry facilities and secure interior individual mailboxes, as well as secure enclosed parking. All units have their own exterior front door entrance from a secure interior building walkway.

FOR SALE DETAILS

PRICE

$5,200,000 USD

PRICE/SF

$321 USD /SF

# OF UNITS

24

PRICE/UNIT

$216,667

CAP RATE

5.95%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

24 Apartments + Parking | Pill Hill

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1963

PARKING SPACES

24

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

S1

APN/PARCEL ID

009-0699-005-04

ASK ABOUT THIS PROPERTY

Daniel McGueColdwell Banker Commercial RealtyMore Info
415-229-1245

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Daniel McGueColdwell Banker Commercial RealtyMore Info
415-229-1245

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