1525 Lakeside Drive

Oakland, CA 94612

$3,915,000
Last Sold Price
Beds
17,872 Sq. Ft.
$219 / Sq. Ft.
17,872
Sq. Ft.
$219
per Sq. Ft.

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...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.
  1. Listed by Eymon Binesh • DRE #02060059 • Brokerage DRE #01240999 • Marcus & Millichap • 650-546-1030
  2. Listed by Adam S. Levin • DRE #01462752 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 1525 Lakeside Drive

MLS City Name
OAKLAND
Building Type
Other
Garage Spaces
16
Parking Spaces
16
LISTING UPDATED: 12/23/2024 05:12 PM

Property Details for 1525 Lakeside Drive

StatusSold
MLS #ML81980185
Days on Compass67
Taxes$78,538 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family 5+
MLS Type5+ Units / Five or More Units
Year Built1910
Lot Size0.29 AC / 12,800 SF
CountyAlameda County

Building Information for 1525 Lakeside Drive

Stories-Residences-Year Built1910Building Size-Lot Size0.29 AC / 12,800 SF

Property Information for 1525 Lakeside Drive

Features
Room Information
  • Kitchen: Countertop - Granite, Countertop - Stone, Countertop - Tile
Features
  • Fireplace: No
  • Flooring: Laminate, Tile
  • Laundry: Coin Operated, Washer / Dryer
  • Living SqFt: 17872
  • Pool: No
  • Security Features: None
  • Special Features: None
Utilities
  • Cooling: None
  • Heating: Wall Furnace
  • Meters: Separate Electric, Separate Gas
  • Sewer Septic: Sewer Connected
  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Water: Public
Carport and Parking
  • Carport Min: 16
Garage
  • Garage and Parking: Covered Parking
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 21
  • Area Text: Oakland Zip Code 94612
  • Restrictions: None
  • Roof: Flat / Low Pitch
  • Subclass: Five or More Units
  • Year Built Source: Other
  • Street Number: 1525
  • Street Name: Lakeside
  • Street Suffix: Drive
  • Area ID: 2612
Lot / Property Details
Building Information
  • Number of Buildings: 1
  • Structure SqFt: 17872
  • Structure SqFt Source: Other
  • Age: 114
Development Information
  • Zoning Detail: CBD-R
Location Information
  • Parcel Number: 8-630-9
  • County Name: Alameda
  • City Name: OAKLAND
  • City Postal ID: 131
  • Postal Code: 94612
  • Elementary School District: 1686
  • High School District Text: Oakland Unified
Lot Information
  • Foundation: Concrete Slab
  • Lot Acres: .29
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Other
Multi Family Information
Building Information
  • No Of Leased: 12
General Information
  • Annual Tax Amount: $78,538
  • Capitalization Rate: 6.64
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: Laundry, Rents
  • Vacancy Factor: 3
Income / Expense Details
  • Expense Insurance: $16,085
  • Expense Landscape: $2,400
  • Expense Maintenance: $10,500
  • Expense Management: $20,283
  • Expense Trash: $15,600
  • Expenses Other: $45,521
  • Expenses Utility: $20,100
  • Expenses Total: $209,027
  • Operating Expenses Include: Fee - Property Management, Fee - Property Tax, Insurance, Maintenance, Maintenance - Repair, Services - Gardener, Services - On-Site Manager, Services - Trash Removal, Utilities - Water
  • Gross Rent Multiplier: 8.59
  • Income Annual Gross: $506,894
  • Income Annual Rental: $516,271
  • Income Gross Scheduled: $522,571
  • Income Other: $6,300
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 0
  • Unit 1 Rent: $1,020
Unit 2 Information
  • Unit 2 Approx Square Footage: 750
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Number of Bedrooms: 1
  • Unit 2 Rent: $1,055
Unit 3 Information
  • Unit 3 Approx Square Footage: 989
  • Unit 3 Full Bathrooms: 1
  • Unit 3 Number of Bedrooms: 2
  • Unit 3 Rent: $2,795
Unit Type 1
  • Unit Type1 Approx SqFt: 550

Property History for 1525 Lakeside Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1525 Lakeside Drive

Taxable ValueLand$666,512Additions$1,341,056Total$2,007,568
Tax Record2024$42,909 ($3,576 / month)
Home Facts
Total Finished SqFt17,872 SqFtAbove Grade Finished SqFt17,872 SqFtStories4Lot Size12,800 SqFtStyleMulti-Family Res (5+ Units)Year Built1910Year Renovated1913CountyALAMEDAAPN8-630-9

Schools near 1525 Lakeside Drive

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
Lincoln Elementary School
PublicK to 5

Westlake Middle School
Public6 to 8

Oakland Technical High School
Public9 to 12

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.

Similar Homes

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Similar Sold Homes

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Listing Courtesy of Marcus & Millichap, Eymon Binesh, DRE #02060059; Marcus & Millichap, Adam S. Levin, DRE #01462752

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.