444 Lee StOakland, CA 94610

Property Details for 444 Lee St

Year built

1916

Construction

WOOD

Lot size

0.14 AC

Property size (Sq ft)

12,507 SF

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

10-775-17

APU

1077517

Description

This exceptional 20-unit apartment building presents a compelling investment opportunity in Oakland's desirable Adams Point neighborhood, just a block from Lake Merritt. The property boasts 12,507 square feet on a 6,250 square foot lot and comprises fourteen studios, five one-bedroom/one-bathroom units, and one two-bedroom/one-bathroom unit. Currently operating at 100% occupancy, the building generates a strong NOI of $263,499, with a pro-forma NOI projected at $295,704, reflecting a 6.60% cap rate and a pro-forma cap rate of 7.40%. Built in 1916, this four-story building is exceptionally well-maintained and benefits from its proximity to downtown Oakland and the lake. The property's strong tenant base is drawn to its convenient location and classic charm. The asking price is $3,995,000, translating to $199,750 per unit. The property's address is 444 Lee Street, Oakland, CA 94610, and its APN is 10-775-17. This is a rare chance to acquire a well-performing multifamily asset in a prime Oakland location. The building has been effectively self-managed for the past 16 years, demonstrating its ease of operation and potential for further optimization.

• CAP approach

  CAP return

  Valuation

  6%

  $4,295,580

  6.5%

  $3,965,151

  7%

  $3,681,926

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,946,924

  Geo Method

  $5,406,908

• Alternative Use

  Use

  Valuation

  Residential

  $3,965,151

  Hospitality

  $3,632,057

  Educational

  $3,021,828

  Medical

  $3,125,754

  Retail

  $4,700,622

Location Insight

City

Oakland

County

Alameda

State

California

Latitude

37.8098

Longitude

-122.257

CBSA code

41860

CBSA name

SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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