301 Lenox, Oakland, CA 94610 - MLS#424061241 - Paolo Ocampo

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Paolo Ocampo

paolo.ocampo@exprealty.com +1(510) 736-3886

Listed by Keith Manson CBRE

$6,035,000

Est. payment - /mo

32 Beds

3 Baths

21,231 SqFt

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UPDATED:

09/09/2024 05:08 PM

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

HOA Y/N No

Year Built 1962

Lot Size 0.274 Acres

Acres 0.2743

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

Interior Features Formal Entry

Heating Gas, Wall Furnace

Flooring Carpet, Linoleum, Simulated Wood, Vinyl

Fireplace No

Window Features Double Pane Windows,See Remarks

Appliance Dishwasher, Electric Cooktop, Free-Standing Electric Range, Free-Standing Freezer, Free-Standing Refrigerator, Varies By Unit

Laundry Coin Operated, Common Area

Exterior

Garage Spaces 27.0

View City, City Lights, Downtown, Lake, Panoramic

Roof Type Asphalt,Flat,See Remarks

Total Parking Spaces 27

Building

Lot Description Other

Story 4

Sewer Public Sewer

Water Public

Level or Stories Four

New Construction No

Others

Tax ID 010077100601

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Paolo Ocampo

+1(510) 736-3886

Agent | CA BRE #02127190

Agent CA BRE #02127190