$1,345,000
429 Vernon Street Oakland, CA 94610
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$1,345,000
Est. payment /mo
5,008 SqFt
UPDATED:
08/26/2024 08:29 AM
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 5,008 sqft
Price per Sqft $268
MLS Listing ID 41070333
HOA Y/N No
Year Built 1905
Lot Size 6,275 Sqft
Acres 0.14
Property Description
www.pinzaoaklandportfolio.com; The Pinza Group is pleased to present 429 Vernon St, an eight-unit property in Oakland's sought-after Adams Point neighborhood. This property features seven 1bd/1bth units and one studio, 1:1 off-street parking and ample storage. Its strategic location near the 19th Street BART station makes it an attractive option for commuters. The current rental rates, approximately 40% below market, reveal a substantial opportunity for significant rental upside upon turnover, capital improvement pass-throughs, or tenant buy-outs. With two units set to be delivered vacant, this property is ideal for both new investors aiming for owner occupancy through a low downpayment loan and seasoned investors looking to capitalize on market-rate rents. Current GRM 9.92; Market GRM 7.11; Email agent on property website for more info.
Location
State CA
County Alameda
Area Listing
Rooms
Basement Other
Interior
Heating Other
Cooling Other
Flooring Other
Fireplace No
Exterior
Utilities Available Other Water/Sewer
Building
Lot Description Other
Water Other
New Construction No
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Listed by Steven Pinza • The Pinza Group, Inc
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Parisa Samimi
Founder & Real Estate Broker | License ID: 01858122
Founder & Real Estate Broker License ID: 01858122