Oakland, CA 94607,861 Mead Ave
Oakland, CA 94607,861 Mead Ave
Oakland, CA 94607,861 Mead Ave
$1,200,000
Est. payment /mo
Est.Price: ?

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3,920 Sqft Lot
SOLD DATE : 12/16/2021

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

Year Built 1923

Lot Size 3,920 Sqft

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

Building

Lot Description Back Yard, Garden, Sprinklers In Front

Sewer Public Sewer

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California Regional MLS (CRMLS)
Listed by Joey Wang • KELLER WILLIAMS REALTY
Bought with OUT OF AREA OUT • OUT OF AREA - NON MEMBER

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Paul Ward

+1(805) 479-5004

Broker Associate | License ID: 01354001

Broker Associate License ID: 01354001

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