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$ 11,501,000
Est. payment | /mo
30,012 SqFt
$ 11,501,000
Est. payment | /mo
30,012 SqFt
Key Details
Property Type Commercial
Sub Type Apt Complex
Listing Status Active
Purchase Type For Sale
Square Footage 30,012 sqft
Price per Sqft $383
Subdivision Fruitvale
MLS Listing ID 41130175
HOA Y/N No
Year Built 1947
Lot Size 0.787 Acres
Acres 0.79
Property Sub-Type Apt Complex
Property Description
This very nostalgic 61-unit property is conveniently located in the Fruitvale District, situated right in the heart of Oakland's central business district and close to Lake Merritt. Casa Magna Apartments is a gated three-story apartment complex consisting of two separate structures offering a total of 30,012 square feet of living space on a .79-acre lot. This building was substantially renovated in 2014 down to the studs and foundation. This freshly renovated expansive property is well-maintained, beautifully, and professionally landscaped. There is a large laundry room generating substantial monthly income. With 31% upside in rents, this building allows the next owner to increase returns and leverage investment in the hot Oakland market. Casa Magna offers affordable living with great potential and a strong sense of community, particularly appealing to those seeking proximity to medical facilities and a diverse, established neighborhood. The mixture of units on the property has: (22) 2 bedroom / 1 bath, (21) studio units / 1 bath, (18) 1 bedroom / 1 bath. Various apartment units have a balcony or patio. There is ample covered carport parking for cars, and off-street parking. You will find multiple security features including monitoring cameras and gated entry.
Location
State CA
County Alameda
Rooms
Basement Other
Interior
Heating Electric, See Remarks
Cooling See Remarks
Flooring Tile
Fireplace No
Laundry See Remarks
Exterior
Utilities Available Water/Sewer See Remarks, Individual Electric Meter, Individual Gas Meter
Building
Lot Description See Remarks
New Construction No
Others
Tax ID 2573430
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Listed by Steven Peterson • Infinity Investments
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