1244 2nd Ave

For Sale

1244 2nd Ave, Oakland, CA 94606

This Oakland property for sale is located at 1244 2nd Ave. The current listed sale price for 1244 2nd Ave is $3,300,000. 1244 2nd Ave is situated on a lot that is 0.1 acre in size.

Contacts

broker

James Kilpatrick

NAI NorCal

(510) 290-9647

Property Details

  • Property Type Multi-Family
  • Property Size 11,928 SF
  • Units 16
  • Lot Size 0.1 Acre
  • Property Tenancy Multi-Tenant
  • Year Built 1925
  • Year Renovated 2018
  • Date Updated Apr 9, 2024
The East Bay submarket is experiencing a significant surge in multi-family housing inventory, marking its strongest growth in decades. With approximately 9,100 units currently under construction, the market is poised for expansion. Notably, the past few years have seen robust development, with over 3,500 units delivered in 2021 alone and a combined total of 7,000 units completed in 2019 and 2020. Downtown Oakland has emerged as a key hub for development, witnessing the completion of more than 6,500 units since 2015. While East Oakland primarily consists of 1 & 2 Star units, limiting rent growth historically, investment activity remains strong. Areas around Lake Merritt and Jack London Square, attracting affluent renters, present attractive opportunities. As the submarket shows potential for increased investment and future growth, it becomes an intriguing prospect for astute multi-family investors.Discover 1244 2nd Ave: A unique 16-unit mixed-use property near the coveted Lake Merritt. This charming building combines old-world elegance with modern functionality, offering 12 residential units, 3 live/work spaces, and a vibrant corner retail space. Located just moments away from the picturesque Lake Merritt, residents will enjoy a vibrant neighborhood with a wealth of amenities. The convenience of the Tempo AC transit line across the street provides easy access to BART and downtown Oakland. Ideal for investors seeking a promising opportunity, 1244 2nd Ave presents a compelling blend of location, versatility, and potential. Connect with The Kilpatrick Team today for more details.

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Highlights

  • Rent Adjustment Program Exemption
  • Unique Lake Merritt Multi-Family / Mixed Use Opportunity
  • Ideal location just two blocks from Lake Merritt, a short walk to BART, nearby several amenities
  • 12 Updated Residential Units with Modern Comforts
  • 3 Newly Renovated Live/Work Ground Floor Units with Attractive Rental Potential
  • Bustling Corner Retail Tenant

Getting around

  • 94/100

    Walk Score ®

  • 73/100

    Transit Score ®

  • 97/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Oakland, CA
  • Neighborhood Merritt
  • Zip Code 94606
  • Market Bay Area

Points of Interest

  • Lake Merritt

    0.48 miles

  • Oakland-Jack London Square

    0.87 miles

  • Oakland City Center - 12th Street

    0.93 miles

  • 19th Street BART Street Elevator

    0.96 miles

  • 19th Street Oakland

    0.98 miles

  • West Oakland

    2.18 miles

  • MacArthur

    2.23 miles

  • Fruitvale

    2.37 miles

  • Rockridge

    3.27 miles

  • Emeryville

    3.54 miles

  • Shell

    0.21 miles

  • Alameda County Fueling Station

    0.56 miles

  • Shell

    0.63 miles

  • 76

    0.75 miles

  • True Zero

    0.80 miles

  • Chevron

    0.80 miles

  • 76

    1.05 miles

  • eVgo

    1.11 miles

  • ChargePoint

    1.15 miles

  • Betts Lakeshore Chevron

    1.25 miles

  • Regeneration Church

    0.08 miles

  • State of California

    0.09 miles

  • Disabled Parking Lot

    0.31 miles

  • Lake Chalet Employee Parking

    0.39 miles

  • Sun Sang Supermarket

    0.41 miles

  • Museum Parking Garage

    0.42 miles

  • Lake Chalet Valet Parking

    0.44 miles

  • Student Parking

    0.45 miles

  • Lake Chalet Parking

    0.47 miles

  • Staff/Faculty Parking

    0.47 miles

  • Americas Best Value Inn

    0.06 miles

  • Civic Center Lodge

    0.51 miles

  • Homewood Suites by Hilton Oakland-Waterfront

    0.70 miles

  • The Empyrean Towers

    0.77 miles

  • Trending Inn

    0.80 miles

  • Hampton Inn

    0.82 miles

  • Ramada by Wyndham Oakland Downtown City Center

    0.83 miles

  • Continental Lodge

    0.83 miles

  • Courtyard Oakland Downtown

    0.93 miles

  • Best Western Plus Bayside Hotel

    0.96 miles

  • Lucky

    0.20 miles

  • hk outlets

    0.56 miles

  • Nature's Best Food

    0.59 miles

  • Hometown Grocery

    0.64 miles

  • Cash & Carry

    0.65 miles

  • Won Kee Supermarket

    0.67 miles

  • E & M Food Market

    0.75 miles

  • LG Supermarket

    0.77 miles

  • New Dic's Supermarket

    0.85 miles

  • Trader Joe's

    1.07 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

James Kilpatrick

NAI NorCal

(510) 290-9647