Pending
1525 Lakeside Drive
Oakland CA, 94612
$4,488,000
$251.12 per sqft
Pending
17,872 sqft
Commercial
Built in 1910
Marcus & Millichap is pleased to present the prestigious 1525 Lakeside Drive, recognized by many as one of the most iconic properties on Lake Merritt in the heart of Oakland, California. This asset has been cared for by the same family for nearly 40 years. The property features spacious two-bedroom, one-bedroom, and studio floor-plans. Residents at 1525 Lakeside Drive enjoy amenities including off-street covered parking, on-site laundry, and beautiful lake views. The building has recently gone through substantial capital improvements, with many of the units featuring LVT flooring, updated kitchens, and newer bathrooms. The brick facade has been reinforced, and the building has recently been deemed exempt from Oaklands Soft Story Ordinance. This building qualifies for excellent financing and boasts a 6.00% CAP rate on current metrics, with upside trending to an 8.00% CAP.
ML81980185
MLSⓇ ID
September 12, 2024
Listed
November 20, 2024
Updated
Map
1525 Lakeside Drive
Oakland CA, 94612
Interior Features
Laundry Description
Coin Operated
Floor Description
Laminate, Tile
Fireplace
No
Cooling
No
Cooling Description
None
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.29 Acres
Other Property Details
Area Name
Oakland
Garage
No
Parking
Covered
View
No
County
Alameda
Water Source
Public
Pool
No
Zoning
CBD-
Listing History
Date | Event | Price |
---|---|---|
11/19/2024 | Pending | — |
10/7/2024 | Price change | $4,488,000 -15% |
Listed by Eymon Binesh with Marcus & Millichap
Listing Contact: 650-546-1030
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