1146 McKinley Ave
Lake Merritt, Oakland, CA
Offered at $3,255,000 • Sold
- 18 Units
BUYER REPRESNTED
Building Features:
· 12 Large Studios, 3 Jr. 1 Bedrooms and 3 – 1 Bedrooms 1 Bath Units
· Spacious layouts and sunny units
· Banked rent increases
· Significant capital improvements including foundation work
· Secured entry
· Cleavland Heights – Easy access to Lake Merritt, 580, and Trader Joe’s
· Separate Electrical meters
PROPERTY DESCRIPTION:
1146 McKinley is a well maintained building in the desired Cleveland Heights neighborhood. The current owner has done many upgrades including replacing the hot water heater and furnace while carefully preserving the original charm of the 1920’s construction. The property features 12 large studios measuring about 550 sq ft, 3 - Jr. 1 Bedroom units that have all been recently remodeled and 3 - 1 bedrooms. All units offer high ceilings, eat-in kitchens, and either hardwood or wood laminate floors with tiled bathrooms and kitchens. The building has 2 large garages and on-site laundry for additional income. Investors will enjoy great returns, significant upside in rents and the benefits of a quiet street in a good location.
Unit Mix:
|
Unit |
Bed/Bath |
|
1 |
Studio |
|
2 |
Jr. 1 Bed |
|
3 |
Studio |
|
4 |
1x1 |
|
5 |
Studio |
|
6 |
Studio |
|
7 |
Studio |
|
8 |
Jr. 1 Bed |
|
9 |
Studio |
|
10 |
1x1 |
|
11 |
Studio |
|
12 |
Studio |
|
14 |
Studio |
|
15 |
Jr. 1 Bed |
|
16 |
Studio |
|
17 |
1x1 |
|
18 |
Studio |
|
19 |
Studio |