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Multifamily

520 31st Street

520 31st St, Oakland, CA 94609

Listing Price: $1,400,000

Cap Rate
3.72%
Number of Units
4
Occupancy
100.0%
Price/Unit
$350,000
Price/Gross SF
$566.34
Gross SF
2,472

Investment Overview

This prime, well-located offering at 520 31st Street consists of a 100% vacant, fourplex, located in a prime Pill Hill location, across the street from Samuel Merritt College, and two-Blocks from Alta Bates Summit Medical Center. The location allows an easy walk to the neighborhood shopping, restaurants, and retail of Telegraph and Broadway Avenue and offers gainful nearby employment at the surrounding medical offices and Alta Bates Hospital. Nearby retail & restaurants include Walgreens, Starbucks, Sprouts Farmers Market, Oasis Food Market, Zion Market, Z-Café & Bar, Koffee Pot, Gogi Time Korean BBQ, all within an easy walk. The property sits on a 5,601 square foot lot of 0.13 acres (per county records) and is fully entitled for a 11,613 square foot nine-unit building of modular construction, with shared co-living space. Built circa 1910/1920 per county records, the property improvements currently consist of a fourplex of wood frame construction, with a flat roof, and a driveway to the north side of the property leading to a huge backyard, and additional open parking. The floorplans currently consist of four studio units, with a secured common entryway and hallway, individual gas and electric meters, and a private rear laundry area for each unit with washer/dryer hook-ups. The property is to be delivered 100% vacant at the close of escrow allowing a new buyer to temporarily rent in it’s current form as fourplex, or to immediately commence development.

Investment Highlights

  • Fully entitled project with existing plans for 11,613 square foot building consisting of nine-units of modular construction.
  • Large 0.13-acre lot surrounded by retail, restaurants, and shopping of Telegraph Avenue & Broadway Avenue.
  • Across the street from Samuel Merritt College and two-blocks to Alta Bates Medical Center.
  • Existing fourplex to be delivered 100% vacant at close of escrow.
  • Charming period detail from original 1910/1920 construction, with on-site laundry, and individual PG&E meters.

Exclusively Listed By

  • Jon A. Holmquist

    Senior Managing Director Investments

    (415) 625-2117

    Email Jon

    License(s): CA: 01257479

    San Francisco

Multifamily

520 31st Street

Listing Price: $1,400,000

Cap Rate
3.72%
Number of Units
4
Occupancy
100.0%
Price/Unit
$350,000
Price/Gross SF
$566.34
Gross SF
2,472

Investment Highlights

  • Fully entitled project with existing plans for 11,613 square foot building consisting of nine-units of modular construction.
  • Large 0.13-acre lot surrounded by retail, restaurants, and shopping of Telegraph Avenue & Broadway Avenue.
  • Across the street from Samuel Merritt College and two-blocks to Alta Bates Medical Center.
  • Existing fourplex to be delivered 100% vacant at close of escrow.
  • Charming period detail from original 1910/1920 construction, with on-site laundry, and individual PG&E meters.

Investment Overview

This prime, well-located offering at 520 31st Street consists of a 100% vacant, fourplex, located in a prime Pill Hill location, across the street from Samuel Merritt College, and two-Blocks from Alta Bates Summit Medical Center. The location allows an easy walk to the neighborhood shopping, restaurants, and retail of Telegraph and Broadway Avenue and offers gainful nearby employment at the surrounding medical offices and Alta Bates Hospital. Nearby retail & restaurants include Walgreens, Starbucks, Sprouts Farmers Market, Oasis Food Market, Zion Market, Z-Café & Bar, Koffee Pot, Gogi Time Korean BBQ, all within an easy walk. The property sits on a 5,601 square foot lot of 0.13 acres (per county records) and is fully entitled for a 11,613 square foot nine-unit building of modular construction, with shared co-living space. Built circa 1910/1920 per county records, the property improvements currently consist of a fourplex of wood frame construction, with a flat roof, and a driveway to the north side of the property leading to a huge backyard, and additional open parking. The floorplans currently consist of four studio units, with a secured common entryway and hallway, individual gas and electric meters, and a private rear laundry area for each unit with washer/dryer hook-ups. The property is to be delivered 100% vacant at the close of escrow allowing a new buyer to temporarily rent in it’s current form as fourplex, or to immediately commence development.

Exclusively Listed By

  • Jon A. Holmquist

    Senior Managing Director Investments

    (415) 625-2117

    Email Jon

    License(s): CA: 01257479

    San Francisco

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