1068 Aileen StOakland, CA 94608

This exceptional two-unit apartment building, located at 1068 Aileen Street in Oakland, California, presents a compelling investment opportunity. The property, built in 1918, features a total of 2,803 square feet situated on a 4,800 square foot lot. Currently vacant, this property offers a blank canvas for renovation and potential expansion. The building boasts two units: a three-bedroom, one-bathroom unit and a two-bedroom, one-bathroom unit. The property includes two parking spaces. The permitted zoning is R2, allowing for potential future development. The property's strong financial performance is highlighted by a net operating income (NOI) of $54,161 and a pro-forma cap rate of 6.00%. Its prime location in Oakland's desirable NOBE area, bordering Emeryville, offers convenient access to major transportation arteries including Highways 80, 580, 24, and the Bay Bridge, as well as public transportation and bike lanes. Nearby amenities include Golden Gate Library, Stanford Ave Park, and Temescal Creek Park. The property's 84 WalkScore reflects its walkability. An unfinished basement and spacious lot provide significant potential for adding an accessory dwelling unit (ADU), further increasing the property's value and rental income. This is a rare opportunity to acquire a multifamily property in a highly sought-after location with substantial upside potential. The asking price is $998,000. APN: 15-1306-10.