10-unit Mixed-Use Investment in West Oakland 2450 Martin Luther King Jr Way

10-unit West Oakland mixed-use investment offering five commercial units and five residential units with excellent cash flow potential. The current cap rate is 11.26 %, the current GRM is 6.56, and the price per unit is $84,900! The property was originally built in 1970, offers approximately 3,200 square feet of rental space, and sits on a 4,784 square foot lot with multiple off-street parking spaces. The property is easy to manage and separately metered for PG&E providing low annual operating expenses. The exterior and interior are in good condition, with no deferred maintenance, making this an easy building to manage. Two commercial units and one residential unit can be delivered vacant or leased at market rate before the close of escrow offering maximum flexibility. The current tenants are stable with rents 50% below market providing for huge rental increases upon move-out or buyouts. This is an attractive Oakland location near countless restaurants, coffee shops, grocery stores and shopping options. This is a very convenient location only a short distance to Downtown Oakland, Temescal, Berkeley, multiple BART stations, and San Francisco.
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