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Listed by Willem Bos, DRE #02013980 • COMPASS
$ 3,525,000
Est. payment /mo
New
3128 Fruitvale Ave Oakland, CA 94602
14,871 SqFt
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 14,871 sqft
Price per Sqft $237
MLS Listing ID EB41149663
Year Built 1950
Lot Size 0.459 Acres
Property Sub-Type Five or More Units
Source Bridge MLS
Property Description
Renovated with huge upside: ownership has invested $492,707 in improvements since 2018, yet eight of the 14 apartments still rent below $1,300 a month, leaving 53% upside to market. The work includes six gut-remodeled units, new copper plumbing and a heat pump water heater, a sewer lateral, main electrical panels, a roof and a new parking lot. The property is Soft Story and SB 721 compliant. Offered at $3,525,000, a 6.02% current cap and 10.13 GRM, growing to a 10.36% cap and 6.69 GRM at market rents. This 18-unit mixed-use property in Oakland's Dimond District offers 14 apartments and 4 commercial storefronts across three buildings on a 20,000 SF lot with 14 surface parking spaces. The unit mix is seven 1BR/1BA units, seven 2BR/1BA units and four commercial suites. Just 0.2 miles to Farmer Joe's with easy access to I-580 and Fruitvale BART.
Location
State CA
County Alameda
Area Oakland Zip Code 94602
Interior
Heating Gas
Cooling Other
Flooring Laminate, Wood
Exterior
Exterior Feature Stucco, Siding - Wood
Parking Features Parking Area
Garage Spaces 14.0
Roof Type Other
Building
Lot Description Regular
Others
Special Listing Condition New, Not Applicable
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