2831 Martin Luther King Jr Way,Oakland, CA 94609
Oakland, CA 94609
Description
Exceptional opportunity to acquire a fully occupied 5-unit apartment building in one of North Oakland's most sought-after rental markets, offered at $799,000. The property features an excellent unit mix of four 1-bedroom/1-bath units and one 2-bedroom/1-bath unit, providing stable in-place income and broad tenant appeal. This well-maintained asset has benefited from significant recent capital improvements, including remodeled units, a newer roof, and fresh exterior paint, allowing investors to acquire a turnkey property with reduced near-term capital expenditures. Separately metered PG&E service allows tenants to pay their own gas and electricity, helping improve operating efficiency. Ideally situated just minutes from the Temescal District, MacArthur BART Station, UC Berkeley, Emeryville, Downtown Oakland, Kaiser Permanente, and major freeways, the property enjoys strong rental demand driven by convenient access to employment centers, shopping, dining, and public transportation. The property is 100% occupied and generates approximately $89,523 in annual scheduled rental income, providing immediate cash flow from the first day of ownership. Whether you're completing a 1031 exchange, expanding an existing portfolio, or acquiring your first multifamily investment, this property offers an outstanding combination of location, stability, and long-term investment potential.
Details
| MLS # | 41137937 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1912 |
| Days On Site | 79 |
| Listing Provided By | BHHS Drysdale Alameda | Christopher Paratore |
Features
| Units | 5 |
|---|---|
| Acreage | 0.06 |
Interior
| Cooling | None |
|---|---|
| Heating | Electric |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Appliances | Electric Water Heater |
Exterior
| Construction Materials | Stucco |
|---|
Area Information
| State | CA |
|---|---|
| County | Alameda |
| City | Oakland |
| Zip Code | 94609 |
| Community Name | PILL HILL |
| Listing VS Median (in PILL HILL) | |
Price: $799,000 low | high Med: $0 On site: 79 low | high Med: | |
Market Activity 94609
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Learn More About This Property
| State | CA |
|---|---|
| County | Alameda |
| City | Oakland |
| Zip Code | 94609 |
| Community Name | PILL HILL |
| Listing VS Median (in PILL HILL) | |
Price: $799,000 low | high Med: $0 On site: 79 low | high Med: | |
 | $175,000730 29th StOakland, CA 94609 |