1525 Lakeside DR, Oakland, CA 94612 – ML81980185

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$4,488,000

Est. payment - /mo

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3 BD

3 BA

17,872 SqFt

Pending

1525 Lakeside DR Oakland, CA 94612

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The Ruiz Group Real Estate

ruizgrpcommander@gmail.com +1(831) 917-8526

UPDATED:

12/20/2024 06:28 PM

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

Restrictions None

Tax ID 8-630-9

Security Features None

Special Listing Condition Not Applicable

Listed by Eymon Binesh • Marcus & Millichap

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The Ruiz Group Real Estate

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+1(831) 917-8526

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1525 Lakeside DR Oakland, CA 94612

The Ruiz Group Real Estate

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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1525 Lakeside DR