For Sale
$3,675,000

410 Fairmount AveOakland, CA 94611

16,306 SF 18 Unit Apartment Building 6.79% Cap Rate in Oakland, CA 94611

Overview

Added:
Jan 15
Days on market:
80
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 8.45 GRM and over a 6.70% in-place CAP rate.

Property Details for 410 Fairmount Ave

Sale Condition
1031-exchange
Property type
Residential income homes, Investment properties
Square Feet
16,306 SF
Price / Square Foot
$225.38
Class
C
Year Built
1926
Stories
3
Elevators
N/A
Lot Size (sq. ft)
7,405 SF
Units
18
Occupancy
91%

Location Insight

City
Oakland
County
State
California

FAQs

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410 Fairmount Ave
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