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2515 Ivy Drive

Oakland, CA 94606
  • $1,850,000
  • STATUS: Active
  • ON SITE: 87 Days
  • MLS #: 422662052
UPDATED: 218 min ago
$1,850,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 5,308
    SQFT
  • $349
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1950
County:

School Ratings & Info

Description

Excellent income generating 8 units in the heart of Cleveland Heights and Ivy Hill - A few blocks from Lake Merritt, Oakland's main commercial corridor. The building includes storage, garage, and laundry income with a 6.08% cap rate, 11.2 GRM. The four-story building is consisted of one 2 bed 1 bath, three 1 bed 1 bath, and four studio units. This property generates great cash flow from day 1 while also having great upside potential to build two (2) additional ADU units in the back of the lot. There is also potential upside to raising tenants' rents for stronger cashflows. This is a unique opportunity to purchase a large well-maintained, low-expense building with strong upside potentials in a highly desirable location.

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© 2022 San Francisco Association of REALTORS® Multiple Listing Service. All rights reserved. Listings on this page identified as belonging to another listing firm are based upon data obtained from the SFAR MLS, which data is copyrighted by the San Francisco Association of REALTORS®, but is not warranted. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or EXP Realty. Data last updated 2022-08-17T00:21:18.507.
www.sfhothomes.com/homes/128983597
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2515 Ivy Drive Oakland, CA 94606

  • Price: $1,850,000
  • Status: Active
  • On Site: 87 Days
  • Updated: 218 min ago
  • MLS #: 422662052
0
Beds
0
Baths
0
½ Baths
N/A
Acres
5,308
SQFT
$349
$/SQFT
1950
Built
Neighborhood:
Oakland Zip 94606
County:
Alameda
Area:
Oakland Zip 94606
Property Description
Excellent income generating 8 units in the heart of Cleveland Heights and Ivy Hill - A few blocks from Lake Merritt, Oakland's main commercial corridor. The building includes storage, garage, and laundry income with a 6.08% cap rate, 11.2 GRM. The four-story building is consisted of one 2 bed 1 bath, three 1 bed 1 bath, and four studio units. This property generates great cash flow from day 1 while also having great upside potential to build two (2) additional ADU units in the back of the lot. There is also potential upside to raising tenants' rents for stronger cashflows. This is a unique opportunity to purchase a large well-maintained, low-expense building with strong upside potentials in a highly desirable location.
Exterior Features

Independent Parking Spaces 0 Lot Features CourtGardenPrivate Parking Features Garage Parking Total 3 Tandem Parking Spaces 0

Interior Features

Basement Storage Area Flooring CarpetTileVinylWood Heating CentralCommonElectric Interior Features Formal Entry Laundry Features Coin OperatedIn Common Area Rooms Total 17 Unit1 Approx Sq Ft 0 Unit1 Bedrooms 0 Unit1 Full Baths 0 Unit1 Partial Baths 0 Unit1of Rooms 0 Unit2 Approx Sq Ft 0 Unit2 Bedrooms 0 Unit2 Full Baths 0 Unit2 Partial Baths 0 Unit2of Rooms 0 Unit3 Approx Sq Ft 0 Unit3 Bedrooms 0 Unit3 Full Baths 0 Unit3 Partial Baths 0 Unit3of Rooms 0 Unit4 Approx Sq Ft 0 Unit4 Bedrooms 0 Unit4 Full Baths 0 Unit4 Partial Baths 0 Unit4of Rooms 0

Property Features

Cap Rate 6.08 Listing Terms _1031Exchange Number Of Units Vacant 0 Property Sub Type 5 Or More Units Separate Meters Common Area Meter Special Listing Conditions Offer As Is Subtype Description Apartments Unit Type Commercial Units Total 0 Unit Type Studio Units Total 4 Unit Type1 Bedroom Units Total 3 Unit Type2 Bedroom Units Total 1 Unit Type3 Bedroom Units Total 0 Unit Type4 Bedroom Units Total 0 Unit1 Rent 0 Unit2 Rent 0 Unit2 Rent1 0 Unit4 Rent 0

Listing provided courtesy of Howard Ran of Howard Realty.


© 2022 San Francisco Association of REALTORS® Multiple Listing Service. All rights reserved. Listings on this page identified as belonging to another listing firm are based upon data obtained from the SFAR MLS, which data is copyrighted by the San Francisco Association of REALTORS®, but is not warranted. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or EXP Realty. Data last updated 2022-08-17T00:21:18.507.
 
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