1248 East 15th Street
$825,000
6
4
3,192
3,192
$258
Description
Welcome to an exceptional investment opportunity at 1240-1248 E 15th St, a wellmaintained 4-unit building located near the highly desirable Lake Merritt area ofEast Oakland. With a rare combination of strong cash flow and fantastic upsidepotential this property is a true gem in today's market. Boasting a solid cap rate and occupied by vetted tenants, this asset deliversimmediate stability and consistent rental income. The property is thoughtfullydesigned with an open lot offering valuable off-street...Welcome to an exceptional investment opportunity at 1240-1248 E 15th St, a wellmaintained 4-unit building located near the highly desirable Lake Merritt area ofEast Oakland. With a rare combination of strong cash flow and fantastic upsidepotential this property is a true gem in today's market. Boasting a solid cap rate and occupied by vetted tenants, this asset deliversimmediate stability and consistent rental income. The property is thoughtfullydesigned with an open lot offering valuable off-street parkinga coveted featurethat ensures tenant satisfaction and convenience. Recently landscaped toperfection, the property presents an inviting and well-kept exterior that sets thetone for the entire building. Given the strong demand in the area and the potential for market rent growth, theproperty offers significant upside. Currently fully leased, any future vacancy wouldpresent an opportunity to increase rental income by adjusting rents to prevailingmarket rates, thereby enhancing the overall return on investment. Located just minutes from the iconic Lake Merritt, residents enjoy easy access tovibrant city amenities, parks, and convenient transit options. This is an area withstrong demand for quality housing, and the opportunity for rent growth issubstantial. Whether you're looking for a turn-key investment or a property withexcellent potential to add value, 1240-1248 E 15th St checks all the boxes. Don't miss out on this rare opportunity to acquire a high-performing property in aprime location with future upside and a track record of strong tenancy. This is amust-see for savvy investors looking to grow their portfolio and capitalize on EastOakland's potential.
- Listed by Daniel Withers • DRE #01325901 • Brokerage DRE #01469842 • Matthews Real Estate Investment Services
Property Details for 1248 East 15th Street
Parcel Number
0200170009
Total Units4.0
Living Area3192
Source Living AreaOther
AreaSan Francisco (SFO)
Vacancy Rate-5%
Lot Size Area6000
Source Lot Size AreaOther
LISTING UPDATED: 12/19/2024 04:49 PM
Property Details for 1248 East 15th Street
Status | Active |
---|---|
MLS # | 24-473677 |
Days on Compass | 31 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1944 |
Lot Size | 0.14 AC / 6,000 SF |
County | Alameda County |
Building Information for 1248 East 15th Street
Stories2Residences-Year Built1944Building Size-Lot Size0.14 AC / 6,000 SF
Property Information for 1248 East 15th Street
Property History for 1248 East 15th Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1248 East 15th Street
Taxable ValueLand$184,829Additions$391,644Total$576,473
Tax Record2024$11,180 ($932 / month)
Home Facts
Total Finished SqFt3,192 SqFtAbove Grade Finished SqFt3,192 SqFtStories2Lot Size6,000 SqFtStyleQuadraplexYear Built1944CountyALAMEDAAPN20-170-9
Schools near 1248 East 15th Street
This home is within Oakland Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Charter - | K to 8 |
Rating | School | Distance |
---|---|---|
Franklin Elementary School PublicK to 5 | ||
Roosevelt Middle School Public6 to 8 | ||
Oakland High School Public9 to 12 | ||
Aspire Eres Academy CharterK to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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