48 Units Steps From Piedmont Avenue

11-15-2022
11-28-2022

237 41st St Oakland, CA 94611

255 41st St Oakland, CA 94611

  • Two side-by-side twenty-four-unit apartment buildings with a mix of one and two-bedroom units
  • Amenities include 46 covered parking spaces, storage closets, and four on-site laundry rooms
  • Individually metered for gas/electricity and each unit is equipped with its own hot water heater
  • Over $350,000 in annual rental upside allowing a new owner to maximize their return over time
  • Properties feature a 99 walk score and are considered a “Walker’s Paradise” by walkscore.com
  • Excellent location steps from Piedmont Avenue, Oakland's premier shopping district
  • Macarthur BART Station is a short 0.7-mile walk offering complete Bay Area Access

Portfolio Description

The Mitchell Warren Team is pleased to present 237-255 41st Street, a 48-unit apartment community located just steps from Piedmont Avenue in Oakland, CA. The property consists of two side-by-side twenty-four-unit buildings with a mix of one and two-bedroom units. Amenities include 46 covered parking spaces, four on-site laundry rooms, and storage closets. Both gas and electricity are individually metered and each unit is equipped with its own water heater. The property offers over $350,000 of annual rental upside allowing a new owner to maximize their return over time. Both buildings have been seismically retrofitted making this a true turn-key asset. This highly sought-after location will continue attracting premium tenants and maintain a low vacancy rate.
237-255 41st Street is ideally located less than two blocks from the Piedmont Avenue shopping district. Residents benefit from a range of choices from Michelin-starred restaurant Commis, the historic Piedmont Theatre, to the casual Barney's Gourmet Burgers as well as a variety of other restaurants and shopping options. Commuters will appreciate the close proximity of city bus lines and the Macarthur BART Station which allow access to the entire bay area. Additionally, the property is a short five-minute walk to Kaiser Permanente – Oakland’s largest employer, and only 0.9 miles from Sutter Health Alta Bates Medical Center – Oakland’s second-largest employer. The property features a 99 walk score and is considered a “Walker’s Paradise” by walkscore.com.

Key Portfolio Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Garden Style
Price
$ 13,750,000
No. of Units
48
Year Built
1956
Building Size
28,399 Sq ft
Price per unit
286,458
Lot Size
0.69 acres
No. of Stories
2
Opportunity Zone
No
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37.827793, -122.254722

37.827893, -122.255038

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