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861 Mead Ave Oakland, CA 94607
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Key Details
Sold Price $1,200,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 40969114
Sold Date 12/16/21
HOA Y/N No
Year Built 1923
Lot Size 3,920 Sqft
Acres 0.09
Property Description
For investors seeking long-term value and major upside, 861 Mead Avenue is a no-brainer—a 4 unit (4, 2BR/1BA) 3,000+ sq.ft. multifamily that’s ready for a new owner. In addition to the building’s large garage, private back patio, and ADU potential, each of the units comes w/ new flooring, new double-paned windows, and a remodeled kitchen and bath. At the time of this listing, the well-maintained building generates strong cash flow, w/ estimated earnings north of $100,000, and none of the apartments are occupied w/ long-term tenants. But the best part of 861 Mead Avenue is its location, West Oakland—a neighborhood that’s close to everything, as reflected by its Walk Score of 90 & its Bike Score of 99. More importantly, West Oakland is in the midst of a transition thanks to intense capital investment from the local government (24 of the City of Oakland’s Major Projects are centered in the neighborhood) so the land upon which 861 Mead Avenue sits should become significantly more valuable.
Location
State CA
County Alameda
Interior
Heating Wall Furnace
Flooring Tile, Wood
Fireplace No
Appliance Gas Water Heater
Building
Lot Description Back Yard, Garden, Sprinklers In Front
Sewer Public Sewer
Others
Tax ID 3111
Read Less
Bought with OUT OF AREA OUT • OUT OF AREA - NON MEMBER