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.
Property Details
Price:
$3,750,000
MLS #:
41068920
Status:
Active
Baths:
0
Address:
410 Fairmount ave
Type:
Residential Income
City:
Oakland
Listed Date:
Aug 6, 2024
State:
CA
ZIP:
94611
Lot Size:
7,250 sqft / 0.17 acres (approx)
Year Built:
1926
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Schools
Interior
Cooling
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Heating
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Exterior
Parking Spots
9.00
Water Source
Other
Financial
Association Fee
0.00
Map
Community
- Address410 Fairmount ave Oakland CA
- CityOakland
- CountyAlameda
- Zip Code94611
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410 Fairmount ave
Oakland, CA
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