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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