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11 Value-Add Units | Cleveland Heights 410 Merritt Ave 11 Unité Immeuble d’appartements 3 068 737 $ CAD (278 976 $ CAD/Unité) 8,83% Taux de capitalisation Oakland, CA 94610
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Faits saillants de l'investissement
- Premier Location in Cleveland Heights
- Concrete Podium Construction
- Attractive Stabilized Return Profile
- Flexible Layouts with Density Upside
- Opportunity to Renovate 7 Units & Achieve Top of The Market Rents
- Highly Walkable, Transit-Rich Location
Résumé de l'annonce
Property Tours are available by appointment.
The Cushman & Wakefield Northern California Multifamily Capital Markets Group is pleased to offer for sale 410 Merritt Avenue, an 11-unit multifamily investment opportunity in Oakland’s highly desirable Cleveland Heights neighborhood. The offering provides investors with the ability to immediately implement a renovation program and capture significant upside through repositioning. The property is ideally suited for a value-add strategy, combining strong in-place fundamentals with meaningful near-term potential to drive rental income growth.
The unit mix is both spacious and efficient, featuring three 2-bedroom units averaging 945 square feet, seven 1-bedroom units averaging 711 square feet, and one 320-square-foot studio. Each 1- and 2-bedroom unit includes a dining nook that can be converted into an additional bedroom through a cost-effective process, creating the opportunity to increase density and further enhance revenue. The property also features 8 single-car garages with room to park an additional vehicle in front of each garage. Upon stabilization, the property is projected to achieve an attractive 8.83% cap rate, highlighting the compelling investment returns available to an active operator.
The building was constructed with a concrete podium that exempts it from Oakland’s mandatory soft story retrofit program, reducing exposure to costly seismic upgrades. Beyond its physical attributes, the property enjoys a highly walkable location with a 91 Walk Score, providing residents with convenient access to AC Transit, major freeway on-ramps, and nearby BART stations for seamless regional connectivity.
Just steps from Lakeshore Avenue and Grand Avenue, two of Oakland’s most vibrant commercial corridors, the property is surrounded by a diverse mix of dining, retail, and entertainment amenities. This dynamic location, paired with the property’s strong fundamentals and substantial repositioning potential, makes this offer an exceptional opportunity for investors seeking long-term growth and cash flow in one of Oakland’s most sought-after rental submarkets.
The Cushman & Wakefield Northern California Multifamily Capital Markets Group is pleased to offer for sale 410 Merritt Avenue, an 11-unit multifamily investment opportunity in Oakland’s highly desirable Cleveland Heights neighborhood. The offering provides investors with the ability to immediately implement a renovation program and capture significant upside through repositioning. The property is ideally suited for a value-add strategy, combining strong in-place fundamentals with meaningful near-term potential to drive rental income growth.
The unit mix is both spacious and efficient, featuring three 2-bedroom units averaging 945 square feet, seven 1-bedroom units averaging 711 square feet, and one 320-square-foot studio. Each 1- and 2-bedroom unit includes a dining nook that can be converted into an additional bedroom through a cost-effective process, creating the opportunity to increase density and further enhance revenue. The property also features 8 single-car garages with room to park an additional vehicle in front of each garage. Upon stabilization, the property is projected to achieve an attractive 8.83% cap rate, highlighting the compelling investment returns available to an active operator.
The building was constructed with a concrete podium that exempts it from Oakland’s mandatory soft story retrofit program, reducing exposure to costly seismic upgrades. Beyond its physical attributes, the property enjoys a highly walkable location with a 91 Walk Score, providing residents with convenient access to AC Transit, major freeway on-ramps, and nearby BART stations for seamless regional connectivity.
Just steps from Lakeshore Avenue and Grand Avenue, two of Oakland’s most vibrant commercial corridors, the property is surrounded by a diverse mix of dining, retail, and entertainment amenities. This dynamic location, paired with the property’s strong fundamentals and substantial repositioning potential, makes this offer an exceptional opportunity for investors seeking long-term growth and cash flow in one of Oakland’s most sought-after rental submarkets.
Bilan financier (Réel - 2024) |
Annuel (CAD) | Annuel par pi² (CAD) |
|---|---|---|
| Revenu de location brut |
381 690 $
|
38,20 $
|
| Autres revenus |
12 308 $
|
1,23 $
|
| Perte due à l’inoccupation |
19 084 $
|
1,91 $
|
| Revenu brut effectif |
374 914 $
|
37,52 $
|
| Taxes |
38 675 $
|
3,87 $
|
| Dépenses d’exploitation |
65 414 $
|
6,55 $
|
| Total des dépenses |
104 090 $
|
10,42 $
|
| Revenu net d’exploitation |
270 824 $
|
27,10 $
|
Bilan financier (Réel - 2024)
| Revenu de location brut (CAD) | |
|---|---|
| Annuel | 381 690 $ |
| Annuel par pi² | 38,20 $ |
| Autres revenus (CAD) | |
|---|---|
| Annuel | 12 308 $ |
| Annuel par pi² | 1,23 $ |
| Perte due à l’inoccupation (CAD) | |
|---|---|
| Annuel | 19 084 $ |
| Annuel par pi² | 1,91 $ |
| Revenu brut effectif (CAD) | |
|---|---|
| Annuel | 374 914 $ |
| Annuel par pi² | 37,52 $ |
| Taxes (CAD) | |
|---|---|
| Annuel | 38 675 $ |
| Annuel par pi² | 3,87 $ |
| Dépenses d’exploitation (CAD) | |
|---|---|
| Annuel | 65 414 $ |
| Annuel par pi² | 6,55 $ |
| Total des dépenses (CAD) | |
|---|---|
| Annuel | 104 090 $ |
| Annuel par pi² | 10,42 $ |
| Revenu net d’exploitation (CAD) | |
|---|---|
| Annuel | 270 824 $ |
| Annuel par pi² | 27,10 $ |
Faits sur la propriété
| Prix | 3 068 737 $ CAD | Style d’appartement | De faible hauteur |
| Prix par unité | 278 976 $ CAD | Classe d’immeuble | C |
| Type de vente | Investissement | Taille du lot | 0,14 AC |
| Taux de capitalisation | 8,83% | Taille du bâtiment | 9 992 pi² |
| Multiplicateur du loyer brut | 8.04 | Nombre d’étages | 2 |
| Nombre d’unités | 11 | Année de construction | 1950 |
| Type de propriété | Immeuble residentiel | Ratio de stationnement | 1,6/1 000 pi² |
| Sous-type de propriété | Appartement |
| Prix | 3 068 737 $ CAD |
| Prix par unité | 278 976 $ CAD |
| Type de vente | Investissement |
| Taux de capitalisation | 8,83% |
| Multiplicateur du loyer brut | 8.04 |
| Nombre d’unités | 11 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | De faible hauteur |
| Classe d’immeuble | C |
| Taille du lot | 0,14 AC |
| Taille du bâtiment | 9 992 pi² |
| Nombre d’étages | 2 |
| Année de construction | 1950 |
| Ratio de stationnement | 1,6/1 000 pi² |
Unité renseignements sur le mélange
| Description | Nombre d’unités | Loyer moyen/mois | pi² |
|---|---|---|---|
| Studios | 1 | 2 598 $ CAD | 320 |
| 1+1 | 7 | 3 419 $ CAD | 705 - 715 |
| 2+1 | 3 | 3 966 $ CAD | 945 |
1 1
Walk Score®
Un paradis pour un marcheur (91)
Bike Score®
Très cyclable (76)
Impôts fonciers
| Numéro de lot | 023-0413-008-01 | Évaluation totale | 443 144 $ CAD (2025) |
| Évaluation du terrain | 154 083 $ CAD (2025) | Impôts annuels | 38 675 $ CAD (3,87 $ CAD/pi²) |
| Évaluation des bâtiments | 271 373 $ CAD (2025) | Année d’imposition | 2024 |
Impôts fonciers
Numéro de lot
023-0413-008-01
Évaluation du terrain
154 083 $ CAD (2025)
Évaluation des bâtiments
271 373 $ CAD (2025)
Évaluation totale
443 144 $ CAD (2025)
Impôts annuels
38 675 $ CAD (3,87 $ CAD/pi²)
Année d’imposition
2024
Contacts
-
Zachary Greenwood -
Mac Watson -
Tate Eames -
Keith Manson -
Cushman & Wakefield NorCal Multifamily
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11 Value-Add Units | Cleveland Heights | 410 Merritt Ave
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