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$2,575,000
Est. payment /mo
4,569 Sqft Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Ivy Hill
MLS Listing ID 41142132
HOA Y/N No
Year Built 1929
Lot Size 4,569 Sqft
Property Sub-Type Apartment
Property Description
1142 McKinley Avenue, a well-maintained 13-unit multifamily investment opportunity located in Oakland's highly desirable Cleveland Heights neighborhood. This classic 1929 Mediterranean-style building offers an attractive unit mix of twelve one-bedroom/one-bath apartments and two studio apartments, providing a diverse tenant base in one of Oakland's strongest rental markets. The property generates strong in-place income while still offering approximately 11.6% rental upside through natural turnover, creating an excellent opportunity for both immediate cash flow and long-term value appreciation. Current financials reflect an attractive 7.04% CAP rate and 8.13 GRM at the asking price. Ideally situated just blocks from Lake Merritt, Grand Lake, Lakeshore Avenue, shopping, restaurants, cafes, and public transportation, the property offers residents exceptional walkability and convenient access to Downtown Oakland, Interstate 580, Interstate 880, and Lake Merritt BART. The location continues to attract strong tenant demand due to its proximity to employment centers, recreation, and neighborhood amenities. With over 10,400 square feet of building area on a 4,570-square-foot lot, this asset presents an excellent opportunity for investors seeking stable income with future upside in one of Oakland's most desirable neighborhoods. Whether you're looking to add a high-quality East Bay apartment building to your portfolio or complete a 1031 exchange, 1142 McKinley Avenue offers an outstanding combination of location, cash flow, and long-term appreciation potential. Buyer to verify all information independently.
Location
State CA
County Alameda
Interior
Heating See Remarks
Cooling See Remarks
Fireplace No
Exterior
Total Parking Spaces 9
Others
Tax ID 2340315
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Listed by Willem Bos COMPASS #02013980
Nearby Locations
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