1525 Lakeside DR Pending Save Request In-Person Tour Request Virtual Tour
Oakland,CA 94612
Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Pending
Purchase Type For Sale
Square Footage 17,872 sqft
Price per Sqft $251
MLS Listing ID ML81980185
Bedrooms 3
Full Baths 3
Year Built 1910
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 Oakland Zip Code 94612
Zoning CBD-R
Rooms
Kitchen Countertop - Granite,Countertop - Stone,Countertop - Tile
Interior
Heating Wall Furnace
Cooling None
Flooring Laminate,Tile
Laundry Coin Operated,Washer / Dryer
Exterior
Parking Features Covered Parking
Garage Spaces 16.0
Utilities Available Individual Electric Meters,Individual Gas Meters
Roof Type Flat / Low Pitch
Building
Foundation Concrete Slab
Sewer Sewer Connected
Water Public
Others
Special Listing Condition Not Applicable