1525 Lakeside DR Active

Oakland,CA 94612

$ 4488000

- Bed

0 Bath

17872 SqFt


Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 17,872 sqft

Price per Sqft $251

MLS Listing ID ML81980185

Year Built 1910

Annual Tax Amount $78,538

Lot Size 0.294 Acres

Property Description

Marcus & Millichap is pleased to present the prestigious 1525 Lakeside Drive, recognized by many as one of the most iconic properties on Lake Merritt in the heart of Oakland, California. This asset has been cared for by the same family for nearly 40 years. The property features spacious two-bedroom, one-bedroom, and studio floor-plans. Residents at 1525 Lakeside Drive enjoy amenities including off-street covered parking, on-site laundry, and beautiful lake views. The building has recently gone through substantial capital improvements, with many of the units featuring LVT flooring, updated kitchens, and newer bathrooms. The brick facade has been reinforced, and the building has recently been deemed exempt from Oaklands Soft Story Ordinance. This building qualifies for excellent financing and boasts a 6.00% CAP rate on current metrics, with upside trending to an 8.00% CAP.

Location

State CA

County Alameda

Area 699 - Not Defined

Zoning CBD-R

Interior

Heating Wall Furnace

Cooling None

Exterior

Roof Type Flat

Building

Water Public

Schools

School District Other

Others

Special Listing Condition Standard

View More
Favorite Go Tour