515 E 11th St, Oakland, CA 94606 - MLS#EB41070061 - Eric Boyenga

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Eric Boyenga

e@boyenga.com +1(408) 506-3942

$ 745,000

Est. payment | -/mo

3,181 SqFt

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$ 745,000

Est. payment | -/mo

Save

3,181 SqFt

Key Details

Property Type Multi-Family

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 3,181 sqft

Price per Sqft $234

MLS Listing ID EB41070061

Originating Board Bridge MLS

Year Built 1906

Lot Size 4,000 Sqft

Property Description

www.pinzaoaklandportfolio.com; The Pinza Group is pleased to present 515 E 11th St, a distinguished five-plex in Oakland's sought-after Merritt neighborhood. The property offers three expansive studios and two 2bd/1bth units. Its strategic location near the Lake Merritt BART station positions it as an attractive option for commuters. The one studio unit, set to be delivered vacant, presents a perfect opportunity for both new investors aiming for owner occupancy through a low downpayment loan and seasoned investors looking to capitalize on market-rate rents. The current rental rates, set at approximately 40% below market, unveil a substantial opportunity for significant rental upside upon turnover, capital improvement pass-throughs, or tenant buy-outs. This property stands as an excellent investment avenue with a clear upside for growth, suitable for both established investors and those seeking an owner-occupied investment. Current GRM 9.32; Market GRM 6.02; Email agent on property website for more info.

Location

State CA

County Alameda

Area Other Area

Interior

Cooling Other

Flooring Other

Exterior

Exterior Feature Other

Garage Other

Garage Spaces 3.0

Roof Type Other

Building

Lot Description Other

Water Other

Others

Special Listing Condition Not Applicable

Listed by Steven Pinza • The Pinza Group, Inc

+1(408) 506-3942

e@boyenga.com

167 S. San Antonio Road, Altos, CA