$475,000 CASH ONLY! $79,000/Door Rare Contractors special w/ huge upside: Beautiful 1930s Mediterranean style building struck by fire. Attractive six unit building w/ five studios and one two bedroom has great cash flow potential with two units sustaining moderate fire damage and one unit gutted it to studs w/ floor joist in good shape. Building was remodeled w/ permits in mid 1980s w/ new foundation, new electrical panel, new sewer lateral and copper piping and electrical upgrades as well as new kitchen counters and shower stalls. Building was occupied prior to fire w/ studios renting at average $1500-$1550 monthly and two bedroom priced at $2250 monthly. Building is smoke damaged throughout however, washing down walls and using ozone odor removal machines should remove smoke odor. We believe structural damage could easily be completely restored without a huge financial burdent and building could turn significant cash flow for motivated builder/investor. Building comes w/ full architectural plans for restoration and can be modified by new owner. Don't miss this rare opportunity to own six units at only $79k per door, 1/3 of Market Value Pre-Fire! **Photos are from before and after the fire**
MLS #
EB41054227
MLS Source
Bridge MLS
Buyer's Brokerage Compensation*
2.5
Flooring
Linoleum, Wood
Laundry
Community Facility
Cooling
None
Garage/Parking
No Parking, Garage: Car(s)
Water
Public
Complex Amenities
None
2400 Humboldt is a Residential Income in Oakland, CA 94601. This 2,609 square foot property sits on a – Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $475,000 and was built in 1923.
This address can also be written as 2400 Humboldt, Oakland, CA 94601.©2024 Bridge MLS. All rights reserved. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Information provided is for personal, non-commercial use by the viewer and may not be redistributed without explicit authorization from Bridge MLS.
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* The offer of compensation is made subject to the MLS rules where the listing is filed. Please contact your agent for any questions concerning this subject matter.
This listing information is up-to-date as of May 02, 2024. For the most current information, please contact Pedram Karbassi, (510) 414-5354