6-Unit Value-Add Mixed-Use in Temescal District Near BART

01-26-2022
03-23-2022

4208-4214 Telegraph Avenue , Oakland, CA 94609

  • ​A Walker’s & Biker’s Paradise (95 Walk Score & 98 Bike Score) & 2-Blocks from MacArthur BART Station
  • ​Surrounded by Some of Oakland’s Most Popular Retail Corridors – Telegraph Ave, 40th Street, Broadway, College Ave, Piedmont Ave
  • ​Vintage Building with Classic 1920’s Character – High Ceilings, Hardwood Floors, Baseboards, Crown Molding & Large Walk-in Closets
  • ​3 of 4 Residential Units Have Been Upgraded with Modern Finishes Including Updated Kitchens & Bathrooms with 2 Telegraph Avenue Fronting Retail Spaces
  • ​Perfect Opportunity for Owner-Users and Investors Alike with Fantastic Cash-Flow Opportunity with Todays Financing Options
  • ​Potential Opportunity for Accessory Dwelling Unit (ADU) Conversion

Property Description

CALL FOR OFFERS - Thursday, February 10th by 3:00 PM

 

PROPERTY TOUR SCHEDULE 

Tuesday, February 8th 12:00 PM - 1:00 PM (Please RSVP Listing Agent)

The CBRE, Inc.​ East Bay Multifamily team is pleased to offer for sale, 4208-4214 Telegraph Avenue, a 6-unit, value-add, mixed-use investment property located in the Popular Temescal District of Oakland, CA, and just 2-blocks from the MacArthur BART station.​ 

4208-4214 Telegraph Avenue is ideally located on the famous Telegraph Avenue in between 42nd & 43rd Streets.​ The ±6,375 SF* structure was built in 1925** and is comprised of two large commercial spaces totaling ±4,075 SF*, two studio units and two one-bedroom, one-bathroom units.​ The Telegraph Avenue fronting commercial space is approximately ±2,550 SF* and is currently vacant and provides an ideal opportunity for an owner-user or an investor to make upgrades and lease the space.​ The second commercial space is approximately ±1,525 SF* and is currently occupied and provides a potential opportunity to complete an accessory dwelling unit (ADU) conversion in the future.​ The residential units feature classic 1920’s character such as high ceilings, hardwood floors, baseboards, crown molding, and large walk-in closets.​ Three of the four residential units have undergone unit upgrades that include, updated kitchens with quartz countertops, modern cabinets, stainless steel appliances, and checker tile flooring as well as updated bathrooms with tile shower surrounds, tile flooring, and new modern bathroom vanities.​ One of the three upgraded units also features in-unit laundry.​ Each residential unit is individually metered for gas and electric and have individual water heaters.​ The residential units all feature gas wall furnaces as their heat source.​ The common area hallway for the residential units has recently been painted with an attractive two-tone color scheme giving it a more modern aesthetic, but also features classic 1920’s character such as high ceilings, baseboards, crown molding, and a skylight.​

4208-4214 Telegraph Avenue is centrally and ideally located in the popular Temescal District and has been designated as a Walker’s & Biker’s Paradise by walkscore.​com (95 Walk Score & 98 Bike Score).​ The property is surrounded by an eclectic mix of dining and shopping options along Telegraph Avenue, 40th Street, and Broadway, including local favorites such as Beauty’s Bagel Shop, Izza, Temescal Brewing, Bakesale Betty, Aunt Mary’s Café, Pizzaiolo, Burma Superstar, Blue Bottle Coffee, Marufuku Ramen, Clove & Hoof, Mamma’s Royal Café, Cholita Linda, Homeroom, Brenda’s Oakland, Hawking Bird and many more.​ The property is just 0.4 miles from the newly constructed Whole Foods Market at Telegraph Ave & 51st Street and also provides easy access to College Avenue (0.9 miles from the property), the main commercial corridor of the prestigious Rockridge Neighborhood, and Piedmont Avenue (0.8 miles from the Property), the main commercial corridor of the Piedmont Avenue Neighborhood, both of which feature a plethora of dining, shopping and entertainment options.​ The property is also just one mile from The Ridge Shopping Mall, a ±330,942 SF*, two-phase, upscale retail center that features Safeway as its anchor tenant and has a Habit Burger, Starbucks, and Panda Express among others.​  

The property is just 0.3 miles from the MacArthur BART station and also provides convenient access to several AC Transit bus stops on Telegraph Avenue, making public transportation a viable option for tenants residing at the property as well as visiting patrons of the commercial spaces.​ The property is just 0.4 miles from a Westbound Highway 24 on-ramp and 0.7 miles from a Eastbound Highway 24 on-ramp making commutes to major employment centers such as Downtown Oakland, San Francisco, San Jose, Silicon Valley, and Walnut Creek a breeze.​

*To be verified by Buyer

**Per City of Oakland Planning and Zoning Map.​ to be verified by Buyer.​

Unit Mix

Description No. of Units Sq ft. Avg. Monthly Rent
0 X 1 2 0 $ 1,995
1 X 1 2 0 $ 1,505
Retail 2 0 $ 4,500

Key Property Information

Listing Status
Sold
Multifamily type
Garden Style
Price
$ 2,300,000
Sales price
$ 2,300,000
No. of Units
6
Cap Rate
6.03%
GRM / GIM
11.35
Average Occupancy
67%
Year Built
1925
Building Size
6,375 Sq ft
Lot Size
5,163 Sq ft
No. of Stories
2
APN
013-1097-027-00
Opportunity Zone
Off
Price per unit
$ 383,333

Financial Details

Income/Expense Info
Actual
Gross Income
$ 202,715
Operating Expenses
$ 53,964
Net Operating Income
$ 138,616
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