1520 1st Avenue

Home » All Multifamily Properties » California & West » 1520 1st Avenue

Address: 1520 1st Ave, Oakland, CA 94606, USA

California & West + Apartment Buildings

Created date: June 26, 2024

Date last updated: August 26, 2024

Situated in the heart of the vibrant Lake Merritt neighborhood, this property offers a highly desirable location that is sought after by tenants and investors alike.
With the flexibility to deliver 7 out of 8 units vacant upon sale, this property provides immediate possibilities for renovations or upgrades to maximize rental income potential.
Unlock additional revenue streams with the potential for constructing an Additional Dwelling Unit (ADU) and/or onsite laundry facilities, enhancing the property’s value and income potential.
Enjoy easy access to transportation with the Lake Merritt BART Station just a brief 5-minute drive away, facilitating seamless commutes throughout the Bay Area for tenants.
Strategically located near major Oakland employers such as Kaiser Permanente and Sutter Health, this property offers an attractive housing option for employees seeking proximity to their workplaces.

Property Description

Berkshire Hathaway Commercial Property Group proudly presents 1520 1st Ave, Oakland, CA—an exceptional 8-unit multifamily property ideally situated in Downtown Oakland, steps away from the Lake Merritt. This property boasts a diverse mix of units, comprising (3) 2-bedroom, 1-bathroom residences, (3) spacious 1-bedroom, 1-bathroom units, and (2) generous studio apartments with 1 bathroom each. Upon acquisition, the property offers the flexibility of delivering up to 7 out of 8 units vacant at the close of escrow, providing immediate opportunities for renovations or leasing at market value. Moreover, the property presents promising potential for further development, with the possibility of constructing an Additional Dwelling Unit (ADU) and an onsite laundry room, catering to tenant needs and enhancing property value. This is a great opportunity to acquire a lucrative asset in a great location.

Available

Request Information

Key Property Information

Listing Status:	Available
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$2,300,000
No. of Units:	8
Year Built:	1910
Lot Size:	0.09 Sq ft
Opportunity Zone:	No
Price per unit:	$287,500
Property Website	Click Here