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$3,915,000
$4,488,000 12.8%
Est. payment /mo
0.29 Acres Lot
Sold on 12/23/2024
1525 Lakeside DR Oakland, CA 94612
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Key Details
Sold Price $3,915,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID ML81980185
Year Built 1910
Annual Tax Amount $78,538
Lot Size 0.294 Acres
Property 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 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.
Location
State CA
County Alameda
Area 699 - Not Defined
Zoning CBD-R
Interior
Heating Wall Furnace
Cooling None
Exterior
Roof Type Flat
Building
Water Public
Schools
School District Other
Others
Special Listing Condition Standard
Listed by Eymon Binesh • Marcus & Millichap
Bought with Eymon Binesh • Marcus & Millichap
Bought with Eymon Binesh • Marcus & Millichap
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