Oakland, CA 94611,410 Fairmount ave
Oakland, CA 94611,410 Fairmount ave
Oakland, CA 94611,410 Fairmount ave
24
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$3,700,000
Est. payment /mo
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7,248 Sqft Lot
Price Dropped by $50K

410 Fairmount ave Oakland, CA 94611

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UPDATED:

10/11/2024 01:18 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 41068920

HOA Y/N No

Year Built 1926

Lot Size 7,248 Sqft

Property Description

New electrical sub and main panels! 410 Fairmount Avenue is a desirable eighteen-unit apartment building consisting of a strong unit mix, including (2) Well-maintained studios, (10) large one-bedroom units, and (6) functionally designed two-bedroom units. With extensive capital improvements, including bringing all electrical panels up to date, replacing the main panel, individually meeting each unit, and fully seismically upgrading the building, this is a stable and easy-to-manage asset for any investor. In addition, 410 Fairmount is located directly above the sprawling Lake Merritt Recreation Center in Oakland, making this a highly sought-after tenant location. With day-one solid cash flow and a sizable amount of rental growth potential, this is a safe and secure asset for any investor looking for a long-term hold and priced well below comps at only an 8.8 GRM and over a 6.3% in-place CAP rate.

Location

State CA

County Alameda

Interior

Heating See Remarks

Cooling See Remarks

Fireplace No

Exterior

Total Parking Spaces 9

Building

Water Other

Others

Tax ID 1080913


California Regional MLS (CRMLS)
Listed by Willem Bos β€’ COMPASS

Sean Glaze

Broker | License ID: 01394201

+1(626) 975-4104

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410 Fairmount ave