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435 Vernon St - 12 bedroom Investment Near Lake Merritt

4,517 SF Specialty Building Offered at $1,750,000 at a 10.75% Cap Rate in Oakland, CA 94610

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Investment Highlights

Rare 12 Bedroom Lake Merritt / Grand Lake Investment With Excellent Current Cash Flow
Well Maintained Property With No Deferred Maintenance And Low Annual Expenses
Full Remodel in the Past 5 Years, Including New Electrical, Plumbing, HVAC Systems, Hardwood Floors, Gourmet Kitchen, & Brand New Solar

11 Bedroom 4.5 Bathroom Front House With Rear 1 Bedroom, 1 Bathroom ADU
Prime Oakland Location, Near BART, Award-Winning Restaurants, Whole Foods, and Easy Commute to Downtown Oakland, Berkeley, and San Francisco
100% Vacant Building - Perfect For Owner-User or Investor

Executive Summary

$500,000 price reduction! Rare 12-bedroom co-living investment in Lake Merritt/Grand Lake offering strong current cash flow and excellent rental upside. The front house offers 11 bedrooms, 4.5 bathrooms and in the rear is a 1-bedroom, 1-bathroom ADU. The property was built in 1914, offers a total of 4,515 square feet, and sits on a 6,545 square foot lot with ample driveway space and a spacious rear yard. All the bedrooms are rented individually to maximize the current income and the tenants share the main living areas which are spacious and beautifully furnished. The entire property has been fully remodeled with new electrical and plumbing systems, new HVAC systems, solar, gourmet kitchen with granite counter tops, custom tile, custom lighting, hardwood floors, double pane windows, and more. Currently, the entire building is vacant, including the back ADU, creating a perfect opportunity for an owner-occupant or investor seeking high market rent.
*** EMAIL DAVID@PINZAGROUP.COM FOR A COMPLETE MARKETING PACKAGE AND PRIVATE SHOWING.

Property Facts

Price	$1,750,000	Building Class	B
Price Per SF	$387	Lot Size	0.15 AC
Sale Type	Investment	Building Size	4,517 SF
Cap Rate	10.75%	No. Stories	3
Property Type	Specialty	Year Built/Renovated	1914/2020
Property Subtype	Residential Income Multifamily Apartments Multifamily Dormitory	Parking Ratio	2.21/1,000 SF

Price	$1,750,000
Price Per SF	$387
Sale Type	Investment
Cap Rate	10.75%
Property Type	Specialty
Property Subtype	Residential Income Multifamily Apartments Multifamily Dormitory
Building Class	B
Lot Size	0.15 AC
Building Size	4,517 SF
No. Stories	3
Year Built/Renovated	1914/2020
Parking Ratio	2.21/1,000 SF