2400 Humboldt, Oakland, CA 94601

About this property

$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**

Listing description from the May 2024 sale, as reported to CRMLS.

Sale history

$475,000

Sold May 2024 · orig. $650,000, on market March 2024 · MLS #41054227 · Source: CRMLS

Listing Agent: Pedram Karbassi · Listing Office: BAY'S ELITE INVESTMENTS · Contact: 510-414-5354 · Bought with: PEDRAM KARBASSI · MLSListing

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