Oakland Multifamily for Sale - Oakland-North
DESPERATE / MUST SELL!!!!!
We are pleased to present 5499 Claremont Avenue, an exceptional 24-unit multifamily investment opportunity located in Oakland's premier Rockridge neighborhood. This trophy asset offers investors a rare combination of stable residential income. The property's strategic positioning directly across from the Rockridge BART station provides unmatched connectivity to major employment centers, with 22-minute access to San Francisco's Financial District and seamless highway connectivity via Route 24. This property was purchased from the original builder. Rare 24-unit apartment complex consisting of 24 one bedroom one-bathroom units. The property was built in 1960, offers approximately 12,600 square feet of rental spaces and sits on a 7,500 square foot lot with a parking lot for 10 cars. The units are separately metered for gas and electricity. The units have pleasant views from the entry and living room of upstairs units. The laundry is coin operated for additional income. The property is located in an Excellent location centrally located between Rockridge and Temescal, just 15 minutes away from San Francisco, within a short distance from Rockridge Bart station, Frog Park, Whole Foods, Trader Joe's, Temescal Farmer's Market, and delicious eateries all around! 5499 Claremont Ave has low annual operating expenses and offers double pane windows, a newer roof, and rooftop hot water solar minimizing owner’s expenses. This is a perfect opportunity for an investor looking for an easy to manage property with great value and attractive curb appeal in one of the best locations in Oakland. The building's desirable unit mix of studios through two-bedroom apartments commands strong rents in a neighborhood characterized by affluent demographics, including a median household income of $212,638 and exceptional walkability (Walk Score 97/100). You will appreciate the neighborhood amenities near 5499 Claremont Ave, Berkeley adjacent. This part of Oakland is bike friendly, so you get around town easily. You can go for a walk in one of the neighborhood parks. If you like to walk, you will find streets lined with trees and sidewalks that are well-lit at night. Residents in this neighborhood consider the area to be walkable with stores, public transportation, and shops nearby. The property at 5499 Claremont Ave in Oakland has strong investment potential due to its proximity to major employers, transportation routes, shopping centers, dining venues, and entertainment options. It is an attractive option for renters seeking convenience and accessibility. The combination of a robust economy and desirable location make this property a promising investment opportunity in the Oakland / Berkeley real estate market. Construction is typical wood framing with concrete foundation walls raised to create a partial basement on the southern portion and slab on grade foundation on the northern portion. The exterior finishes consist of painted brick veneer and stucco siding. The flat roof contains built up covering. Units are heated by electric wall heaters. Domestic hot water is provided by a central that has solar panels on the roof boiler. Domestic water lines are copper. Electrical wiring is observed as copper. 5499 Claremont Ave blends historic charm with urban realities, offering affordable living with great potential and a strong sense of community, particularly appealing to those seeking proximity to medical facilities and a diverse, established neighborhood. Rockridge stands out for its highly desirable demographic profile, which directly translates into stable, high-quality tenant base and robust property value appreciation. The neighborhood attracts highly educated and affluent resident base, supporting strong rental demand and property values. This demographic typically commands higher incomes, contributing to a stable and desirable tenant pool for rental properties. Rockridge boasts a median household income significantly above the national and even the Oakland average. This strong earning power means residents can afford higher rents and are less likely to default, contributing to a consistent rental income for property owners. The neighborhood has exceptional educational attainment and is characterized by a highly educated population. A substantial majority of adult residents hold bachelor’s degrees or higher with a significant portion processing master’s degree and even doctorate degrees. The high level of education often correlates with stable, professional employment and high paying sectors, further solidifying the economic strength of the tenant pool. Rockridge's urban village atmosphere, anchored by the vibrant College Avenue corridor with its acclaimed restaurants, boutique shopping, and essential services all within walking distance, ensures consistent tenant demand from the area's highly educated professional workforce. The unique wireless lease income effectively adds the equivalent of additional rental units without associated management overhead, creating a truly differentiated investment profile that combines the stability of multifamily housing with the security of infrastructure-essential commercial income. This rare offering represents an opportunity to acquire a cash-flowing asset in one of the East Bay's most coveted neighborhoods, where strong fundamentals and demographic trends support both immediate returns and long-term value appreciation. At the foot of the Oakland Hills, Rockridge is a lovely burby-like haven where Cal Berkeley grads come to live when they exit their 20s and start yearning for historic cottages, nice gardens, and a 86 walk score. Twitterites and techies who have newly flown the coop are lucky to nab a place to live in this desirable hub. Even so, all ages come to explore this model main street where two indie bookstores thrive (Pegasus and Diesel). Extreme shoppers and companions of extreme shoppers should be warned: walking Rockridge will easily swallow an afternoon. There are home goods (Maison D’Etre) to baked goods (Market Hall Bakery), vintage (Pretty Penny, Lost & Found) to eco (Atomic Garden), jewels (Pavé) to shoes (Tootsies). A break for sustenance is always a storefront away with a dozen new eateries in 2013 alone, including Ramen Shop and A16 Rockridge. Oldies but goodies are Wood Tavern, Á Côté, and Dreyer’s Ice Cream Parlor, where the flavor Rocky Road was invented.
