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Lynn Bell

lynn@christiesrealestatenorcal.com +1(925) 260-3882

Listed by Andrew de Vries Berkshire Hathaway-Franciscan

$ 649,000

Est. payment -/mo

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Price Dropped by $200K

3683 Maybelle AVE Oakland, CA 94619

9 Beds

4,188 SqFt

Open House

Mon Jul 13, 11:30am - 12:30pm

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 4,188 sqft

Price per Sqft $154

MLS Listing ID 426138258

Style Contemporary

Bedrooms 9

HOA Y/N No

Year Built 1966

Lot Size 5,301 Sqft

Acres 0.1217

Property Sub-Type Quadruplex

Property Description

Major Price Adjustment! Newly repositioned to approximately a 5.44% estimated current cap rate with an estimated 10.22% stabilized cap rate based on projected market rents. Outstanding opportunity to acquire a large Oakland fourplex with long-term upside potential. 3683 Maybelle Ave presents a compelling opportunity to acquire a well-located 4-unit residential income property in Oakland's established Laurel District area. According to public records, the property consists of a 1966-built fourplex totaling approximately 4188 sq ft and featuring an attractive unit mix of three 2BR/1BA units and one 3BR/1BA unit. The generous unit sizes may be larger than many competing multifamily properties in the area and have historically supported stable long-term occupancy. The property has been owned by the same family for many years and most units remain in largely original condition, creating future value-add potential through modernization as units eventually turn over, subject to Oakland rent control and tenant protection regulations. All four units are currently tenant occupied by long-term tenants and generate approximately $54283 in annual gross rental income. Additional features include 4-car garage parking, separate unit entrances, individually metered PG&E service, and a substantial mid-century multifamily building footprint. Conveniently located near the Laurel and Dimond Districts, residents enjoy easy access to neighborhood shopping, restaurants, schools, parks, public transportation, Mills College at Northeastern University, I-580, Hwy 13, and major Bay Area employment centers. Broker's Note Buyer to verify all income, expenses, market rents, unit mix, square footage, rent control, tenant protections, zoning, and investment returns. Tenant personal property has been virtually removed from exterior marketing photos. Do not disturb occupants.

Location

State CA

County Alameda

Area Oakland Zip 94619

Rooms

Basement None

Interior

Heating Wall Furnace

Cooling None

Fireplace No

Laundry Coin Operated, Common Area

Exterior

Garage Spaces 4.0

Utilities Available City, Sewer Connected

Roof Type Composition

Total Parking Spaces 4

Building

Lot Description Shape Regular

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public

Architectural Style Contemporary

Level or Stories Two

New Construction No

Schools

School District Alameda

Others

Tax ID 0301929007

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

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Lynn Bell

+1(925) 260-3882

lynn@christiesrealestatenorcal.com

Lynn Bell

3683 Maybelle AVE Oakland, CA 94619

Open House

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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3683 Maybelle AVE