149 Montecito AveOakland, CA 94610

Property Details for 149 Montecito Ave

Year built

1960

Construction

WOOD

Lot size

0.15 AC

Property size (Sq ft)

12,612 SF

Property type

Apartment buildings

APN

10-769-10

APU

1076910

Description

This exceptional 21-unit apartment building, located at 149 Montecito Ave in Oakland, CA's desirable Adams Point neighborhood, presents a compelling investment opportunity. Boasting 12,612 square feet on a 0.15-acre lot (APN 10-769-10), this 1960-built property offers a mix of studio, one-, two-, and three-bedroom units, providing diverse income streams. The building features convenient amenities including on-site laundry facilities, secure gated underground parking, and controlled entry, enhancing tenant appeal and property value. Its prime location near Lake Merritt offers residents easy access to downtown Oakland, Uptown's vibrant culinary and shopping scene, and renowned cultural institutions such as the Oakland Museum of California and the Fox Theater. The property's strong fundamentals, combined with a significant potential rental upside, make it an attractive acquisition for both owner-occupants and investors seeking a value-add opportunity. The asking price is $3,265,000, translating to approximately $155,476 per unit. This well-maintained building presents a rare chance to capitalize on the thriving Oakland rental market. The unit breakdown includes nine studios, six one-bedroom/one-bathroom units, and six two-bedroom/one-bathroom units. This property offers a solid foundation for long-term growth and profitability in a highly sought-after location.

• CAP approach

  CAP return

  Valuation

  6%

  $4,331,642

  6.5%

  $3,998,439

  7%

  $3,712,836

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,988,456

  Geo Method

  $5,452,300

• Alternative Use

  Use

  Valuation

  Residential

  $3,998,439

  Hospitality

  $3,662,549

  Educational

  $3,047,198

  Medical

  $3,151,996

  Retail

  $4,740,086

Location Insight

City

Oakland

County

Alameda

State

California

Latitude

37.812

Longitude

-122.26

CBSA code

41860

CBSA name

SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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