301 Lenox Active Save Request In-Person Tour Request Virtual Tour
Oakland,CA 94610
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 21,231 sqft
Price per Sqft $284
MLS Listing ID 424061241
Bedrooms 32
Full Baths 3
Year Built 1962
Lot Size 0.274 Acres
Property Description
301 Lenox Ave is a trophy 32-unit, value-add apartment community centrally located in Oakland's coveted Adams Point neighborhood. The property is being offered at an attractive basis of $188,594/unit & $284/SF with an in-place Cap Rate of 6.11%.Built in 1962, this 21,231 SF structure is situated on a 11,950 SF soft corner lot at the intersection of Lenox Ave & Van Buren Ave. The building is comprised of 32 sizable 1-bed, 1-bath units including 2 penthouse level units each of which feature their own private rooftop deck. Community amenities & features include: a secured gated entry, a passenger elevator, a large interior courtyard, a secured parking garage with 26 parking spaces & storages units, a separate single-car garage, 2 on-site, coin-operated laundry facilities & a community rooftop deck with pristine views of Lake Merritt & the Downtown Oakland skyline. The property has undergone significant capital improvements including: a new roof (2020), new dual pane windows throughout (2020), sewer lateral replacement/compliance (2019), a roof mounted solar photovoltaic system (2015). The property is also exempt from the City of Oakland's mandatory soft story retrofit ordinance. The property is surrounded by Oakland's most popular retail districts and is steps from Whole Foods.
Location
State CA
County Alameda
Area Oakland Zip 94610
Interior
Heating Gas,Wall Furnace
Flooring Carpet,Linoleum,Simulated Wood,Vinyl
Laundry Coin Operated,Common Area
Exterior
Garage Spaces 27.0
View City,City Lights,Downtown,Lake,Panoramic
Roof Type Asphalt,Flat,See Remarks
Building
Lot Description Other
Story 4
Sewer Public Sewer
Water Public
New Construction No