1525 Lakeside Drive
Oakland, CA 94612
0.29 acres | #ML81980185
Description
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.
Property Details
- Date ClosedDecember 20, 2024
- Property SubtypeCommercialSale
- Original List Price$5,280,000
- MLS #ML81980185
- MLS #ML81980185
- Property TypePurchase
- CountyAlameda
- Taxes Annual$78,538
- Cost4488000
- Acres0.2938
- Utility SourcePublic
- School DistrictOther
- Year Built1910
Location
Legal
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Listing Courtesy
Listing Agent: Eymon Binesh (#ML5082979)
Listing Office: Marcus & Millichap (#ML88226)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
