3128 Fruitvale Ave, Oakland, CA 94602
- $3,525,000
- 14,871
- SqFt
- List Price
- $3,525,000
- MLS#
- 41149663
- Property Type
- Multifamily
- Sqft. of Residence
- 14,871
- Lot Size
- 20,000
- Region
- Oakland Zip 94602
- Status
- ACTIVE
- County
- Alameda
- Acres
- 0.46
- Year Built
- 1950
- Parking Spaces
- 14
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.
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Additional Information
- Basement
- None
- Living Area
- 14,871
- Lot Size
- 20,000
- Possession
- Close Of Escrow
- Region
- Oakland Zip 94602
- Roof
- Other
- Subdivision
- Oakland
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Listing courtesy of COMPASS.
All data, photos, visualizations, and information regarding a property, including the property's compliance with state and local legal requirements and all measurements and calculations of area, have been obtained from various sources, and may include such material that has been generated by use of artificial intelligence. Such information and material have not been and will not be verified for accuracy by the listing broker or the multiple listing service, and are not guaranteed as complete, accurate or reliable. Such information and material should be independently reviewed and verified for accuracy. This information and material are intended for the personal use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.