Oakland, CA 94606,515 E 11th St
Oakland, CA 94606,515 E 11th St
Oakland, CA 94606,515 E 11th St
10
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$745,000
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3,998 Sqft Lot
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515 E 11th St Oakland, CA 94606

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UPDATED:

09/30/2024 06:33 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 41070061

HOA Y/N No

Year Built 1906

Lot Size 3,998 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

Interior

Heating See Remarks

Cooling See Remarks

Fireplace No

Exterior

Total Parking Spaces 3

Building

Water Other


California Regional MLS (CRMLS)
Listed by Steven Pinza • The Pinza Group, Inc

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Joshua Shorter

RE.S.0191694

+1(702) 728-0089

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515 E 11th St