1244 2nd Ave

1244 2nd Ave, Oakland, CA 94606

  • For Sale $3,300,000
  • 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

Contacts

broker

James Kilpatrick

NAI NorCal

(510) 290-9647

Location

Getting Around

  • Walk Score ®

    94/100 Walker's Paradise

  • Transit Score ®

    73/100 Excellent Transit

  • Bike Score ®

    97/100 Biker's Paradise
Powered by Walk Score ®
  • 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

  • New King

    0.02 miles

  • Berlyn's Gourmet Eatery

    0.05 miles

  • Tacos Mi Rancho

    0.09 miles

  • Pho Hiep Hung

    0.13 miles

  • Rockin Crawfish

    0.14 miles

  • Happy Valley Resturant

    0.14 miles

  • Portal

    0.15 miles

  • La Estrellita

    0.19 miles

  • Tasty Bowl

    0.20 miles

  • Pho King

    0.21 miles

  • Dewey Academy

    0.13 miles

  • La Esquelita Education Center

    0.16 miles

  • La Esquelita Elementary School

    0.17 miles

  • Metwest High School

    0.19 miles

  • Laney College

    0.36 miles

  • Bridge Academy

    0.38 miles

  • American Indian Public Charter School

    0.53 miles

  • Franklin Elementary School

    0.55 miles

  • Lincoln Elementary School

    0.63 miles

  • Cleveland Elementary School

    0.80 miles

  • Laney College Child Care Center

    0.22 miles

  • East Bay Academy

    0.36 miles

  • The Lake School

    0.39 miles

  • Little Stars Pre-School

    0.52 miles

  • Starlite Child Development Center

    0.63 miles

  • Family Bridges Lake Merritt Child Care Center

    0.66 miles

  • Small Trans Depot

    1.01 miles

  • New Day Preschool

    1.18 miles

  • Snow White Pre School

    1.75 miles

  • Beach Schoolmates

    1.85 miles

Frequently Asked Questions

What is the lease rate for 1244 2nd Ave?

Rental asking rate at 1244 2nd Ave is $1,650,000.00/YR.

What is the total square footage of 1244 2nd Ave?

1244 2nd Ave totals 11,928 square feet.

When was this property built?

1244 2nd Ave was built in 1925.

Looking for more in-depth information on this property?

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Contact Listing Broker

broker

James Kilpatrick

NAI NorCal

(510) 290-9647