Prime Investment Opportunity: 4-Plex sold As IS with Approved 78-Unit Development in Oakland Unlock exceptional value with this rare investor’s gem at 990 34th St, Oakland, CA 94608! This property combines immediate cash flow from an existing 4-plex with a city-approved plan for a transformative 6-story, 78 one bedroom multifamily development tailored for 62+ senior housing. Maximize your returns with this dual-opportunity investment in a high-demand Oakland location and lack of low income housing. Key Features of the Current 4-Plex: • Configuration: Three 3BD/2BA units and one 3BD/1BA unit, all fully occupied and generating steady rental income. After the sale, all units will be empty, allowing the buyer to set the rent amount at the market rate. • Modern Upgrades: Each unit features new appliances and in-unit washer/dryer for tenant convenience. • Utilities: Separately metered for water, electricity, and gas—tenants pay directly to EBMUD and PG&E, minimizing landlord expenses. • Parking Revenue: Six assigned covered parking spaces, rentable at $125/month each, adding significant income potential. And 6+ more parking on back yard. • Infrastructure: Updated from roof to sewer. New sewer lateral installed with certificate, ensuring compliance and reliability. • Prime Location: Steps from BART, shopping, and employment hubs, with an excellent Walk Score of 86. Development Potential: • City-Approved Plans: Full architectural plans and approval letter provided for a 6-story, 78-unit (one-bedroom) multifamily development designed for 62+ residents. • Market-Strong Rents: Section 8 pays $2,225/month for one-bedroom units, aligning with current market rates in the area. • Scalable Investment: Transform this site into a high-yield, modern multifamily complex while benefiting from existing rental income during planning, permitting or financing.
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