Fruitvale Commons, Oakland, CA.

12 Units with huge ADU potential.

5 units renovated.

For Sale $2,595,000. 

PROPERTY DESCRIPTION

Myerhoff & Associates is pleased to offer an outstanding 12-unit multi-family real estate investment. This property is located in the Fruitvale neighborhood of Oakland, CA. This is a well maintained mid-rise walk-up apartment building with 1920’s detailing and two large vacant garages. Each floor has 4 units, most of which are 1bd/1ba units, many have been significantly remodeled. There is a strong tenant profile and historically low vacancy rate.A large backyard with fruit trees provides green space and possible freestanding ADU construction. There is a dedicated laundry room in the basement with new card activated machines, along with a vacant unwarranted unit and individual storage lockers which are not in use.

• Two Oversized Garages

• 8.7% Total Return Day One

• Qualified Opportunity Zone

• Two Blocks From BART

• 5 Renovated Units

• New Laundry Machines

• Multiple ADU Opportunities

PROPERTY LOCATION & SITE SURVEY

The subject property is in a burgeoning location in the inner Bay Area and just two blocks to BART. Just a stone’s throw south is the Fruitvale Transit Village, one of the most successful TOD projects in the country, and home to a walkable plaza, public market, farmers market, and important social services. Phase 2, newly completed, is a $60 million redevelopment project consisting of 257,000 square feet of building space built on the former BART parking lot and containing 220 mixed use housing units.Fruitvale BART is a primary transit hub providing public transportation to nearly the entire Bay Area. This highly centralized location is within a mile of the 880 FWY with easy access to San Francisco and San Jose.

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