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Matthew Larsen

Matthew Larsen
Broker Associate
CALBRE #01448393
RE/MAX Accord
Oakland, CA 94611

510-415-2458
Contact Me

Matt@mattlarsenhomes.com I Info@mattlarsenhomes.com

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Listing 4 out of 358
Sold for $4,110,000 Sold

429 Bellevue Avenue
Oakland, CA 94610

13 units | Multi Family Home
6098 sq ft - MLS# 40810262 Courtesy of Cbre
Property Photo

Sold

Sold for $4,110,000 on Aug 2, 2018

Description

429 Bellevue Ave is a 13-unit apartment building located in Oakland's Adams Point Neighborhood. Built in 1961, the ±7,555 sq. ft. building is situated on a ±6,250 sq. ft. lot. The property features a unit mix of 2 X studio units, 9 X one bedroom units and 2 X two bedroom units. The property also features 3 secured single car garages and 8 tuck-under parking spaces. 7 of the 13 units have been turned and updated since 2014 and there have been significant exterior upgrades includeing a new paint job, a recently installed security camera system, and a new 100-gallon gas water heater. The property also has a coin operatred on-site laundry facility. The average in-place rent is $1,806 per unit and there is potential to increase the net operating income by more than 65%. This asset provides an excellent opportunity for investors and 1031 exchange Buyers to acquire a quality multifamily investment with significant income upside potential in one of Oakland's most prestigous neighborhoods.

Features

  • Property Type: Multi Family Home
  • Sub Type: Lowrise (1-3 Flrs)
  • Listing Status: Sold
  • Listing Price: $4,288,000
  • County/Area: Alameda County
  • Zip Code: 94610
  • Year Built: 1961
  • Age: 57
  • Sq.Ft.: 7,555 sq ft
  • Units: 13 units
  • # of Parking Spaces: 11
  • Lot Size: 6098 sq ft
  • Zoning: RU2
  • Addtl Features Misc.: Balcony/Patio, Extra Storage, Other
  • All Units Have: Oven Range Free Standing, Refrigerator, Other
  • Annual Gross Sched Inc: 276936
  • Apx Lot Sq Ft: 6250
  • Equipment Additional: Dryer, Washer, Water Heater Gas, Other
  • Exterior: Stucco, Wood Frame, Other, Siding - Stucco
  • Flooring: Hardwood Floors, Partial Carpeting, Tile, Wood, Other
  • Heating: Forced Air 1 Zone, Gas, Wall Furnace
  • Laundry: Coin Operated, Common Room, Dryer, In Laundry Room, Inside Unit, Washer, Other
  • Lot Description: Regular, Other
  • Net Oper Income: $167,203
  • On-Site Parking Desc: Attached Garage, Carports - 2 Or More, Covered Parking, Enclosed Garage, Garage Parking, Spaces - Assigned, Other
  • Roof: Tar And Gravel
  • Tenant Pays: Electric, Gas, Parking, Other
  • Unit # 1 # Of Bathrooms: 1
  • Unit # 2 # Of Bathrooms: 1
  • Unit # 2 # Of Bedrooms: 1
  • Unit # 3 # Of Bathrooms: 1
  • Unit # 3 # Of Bedrooms: 2
  • Unit 1 # Units This Type?: 2
  • Unit 2 # Units This Type?: 9
  • Unit 3 # Units This Type?: 2
  • Water/Sewer: Sewer System - Public, Water - Public
  • Sold Date: 2018-08-02 00:00:00
  • Sold Price: 4110000
Courtesy of Cbre



Matthew Larsen | 510-415-2458 | Contact Me
3327 Castro Valley Blvd. - Castro Valley, CA 94546
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