1501 51st Ave, Oakland, CA 94601

About this fourplex

Fairfax Apartments is a well-maintained fourplex on a quiet street. Built in 1964, this 3,232 SF* building is situated on a 5,797 SF* lot. The property consists of four 2-bed/1-bath units that average 800 SF* each. Two units are not currently rented, allowing for an owner move-in or rent at market rate. Current rents are approximately 23% below market rate, providing the opportunity to increase the NOI by approximately 28%. All units are individually metered for gas and electric. The property also features a sizable parking area at the back of the building that can fit up to four cars. Parking/storage is a potential source of additional income. The property is located in the Fairfax neighborhood of Oakland. The area is “Very Walkable” and has “Good Transit,” according to Walk Score. Supermarkets, cafes, restaurants, parks, and other conveniences are within walking distance. Downtown Oakland, Lake Merritt, and two BART stations are 10 minutes away by car. *To be verified by Buyer.

Listing description from the January 2023 sale, as reported to CRMLS.

Sale history

$1,075,000

Sold January 2023 · on market November 2022 · MLS #41014239 · Source: CRMLS

Listing Agent: Adam Stiles · Listing Office: Marcus & Millichap · Contact: 510-379-1200 · Bought with: Mawuko Tugbenyoh · Keller Williams Rlty East Bay

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