Thank you
Pedram Karbassi
BAY'S ELITE INVESTMENTS
510-414-5354
$475,000 CASH ONLY! $79,000/Door Rare Contractors special w/ huge upside: Beautiful 1930s Mediterranean style building struck by fire. Attractive six unit building w/ five studios and one two bedroom has great cash flow potential with two units sustaining moderate fire damage and one unit gutted it to studs w/ floor joist in good shape. Building was remodeled w/ permits in mid 1980s w/ new foundation, new electrical panel, new sewer lateral and copper piping and electrical upgrades as well as new kitchen counters and shower stalls. Building was occupied prior to fire w/ studios renting at average $1500-$1550 monthly and two bedroom priced at $2250 monthly. Building is smoke damaged throughout however, washing down walls and using ozone odor removal machines should remove smoke odor. We believe structural damage could easily be completely restored without a huge financial burdent and building could turn significant cash flow for motivated builder/investor. Building comes w/ full architectural plans for restoration and can be modified by new owner. Don't miss this rare opportunity to own six units at only $79k per door, 1/3 of Market Value Pre-Fire! **Photos are from before and after the fire**
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Total Baths: 0
None
Air Conditioning
Floor Furnace
Has Heating
Year Built: 1923
Construction: Stucco,Wood Siding
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1435
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 6250
Original List Price: 475,000
Listing Contract Date: 2024-03-28
Lease Term: Negotiable
Tenant Pays: Gas
Source Listing Status: Active
Source Neighborhood:
Directions: 35th Ave to Lynde St Cross Street: 35th Ave.
Source Property Type: Residential Income
Property Age: 101
Year Built Source: Vendor Enhanced
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
2 Peroly Ct, Oakland, CA,94601 | $699,000 | 4 | 2 | 1,048 | 8277 Sqft |
2946 E 29th Street, Oakland, CA,94601 | $1,199,999 | 9 | 4 | 3,157 | 4800 Sqft |
3021 E 7th St, Oakland, CA,94601 | $795,000 | 8 | 4 | -- | 6500 Sqft |
1515 54th Avenue, Oakland, CA,94601 | $450,000 | 3 | 1 | 1,029 | 4000 Sqft |
3482 Paxton Ave, Oakland, CA,94601 | $799,000 | 3 | 2 | 1,652 | 6780 Sqft |
340 29th Ave #203, Oakland, CA,94601 | $489,000 | 1 | 1 | 735 | 25949 Sqft |
3701 International Blvd, Oakland, CA,94601 | $2,700,000 | -- | -- | -- | 5000 Sqft |
916 36th Ave, Oakland, CA,94601 | $575,000 | 2 | 1 | 936 | 5850 Sqft |
3617 San Leandro St, Oakland, CA,94601 | $825,000 | -- | -- | -- | 5500 Sqft |
2344 E 17th, Oakland, CA,94601 | $1,900,000 | -- | -- | -- | 6375 Sqft |
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ByOwner last updated this listing 05/02/2024 @ 15:16
MLS: 41054227
LISTED BY: Pedram Karbassi, BAY'S ELITE INVESTMENTS
SOURCE: CRMLS
Buyer Agency Compensation: 2.5%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.