515 E 11Th St

Oakland, CA 94606

$745,000

List Price

N/A

bed Beds

shower Baths

N/A sqft

straighten / sqft

1906

calendar_month Built

Property Description

www.pinzaoaklandportfolio.com; The Pinza Group is pleased to present 515 E 11th St, a distinguished five-plex in Oakland's sought-after Merritt neighborhood. The property offers three expansive studios and two 2bd/1bth units. Its strategic location near the Lake Merritt BART station positions it as an attractive option for commuters. The one studio unit, set to be delivered vacant, presents a perfect opportunity for both new investors aiming for owner occupancy through a low downpayment loan and seasoned investors looking to capitalize on market-rate rents. The current rental rates, set at approximately 40% below market, unveil a substantial opportunity for significant rental upside upon turnover, capital improvement pass-throughs, or tenant buy-outs. This property stands as an excellent investment avenue with a clear upside for growth, suitable for both established investors and those seeking an owner-occupied investment. Current GRM 9.32; Market GRM 6.02; Email agent on property website for more info.

Listing Information

List Price $745,000
Status Active
MLS 41070061
HOA $0
Type Residential Income
Year Built 1906
Lot Size 4,000
Structure Size N/A
DOM 7
Courtesy Of The Pinza Group, Inc
Listing Agent Steven Pinza DRE#01867691

Interior Features

Total Bedroom
Bedrooms N/A
Cooling Type
Cooling Type See Remarks

Exterior Information

Maps

Listing information courtesy of: Steven Pinza, The Pinza Group, Inc . *Based on information from the Association of REALTORS/Multiple Listing as of Aug 23rd, 2024 at 1:40 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.