1812 27Th Ave Oakland, CA 94601

Remodeled 3-unit apartment complex with development potential up to 11 units. The current unit mix consists of two 2bd/1bth units and one 1bd/1bth unit with excellent rental upside. The front top-level 2bd/1bth unit will be delivered vacant at close of escrow and is perfect for an owner-occupant or investor seeking high market rent. The property was built in 1900, offers approximately 2,170 square feet of living space, and sits on an extra-large 10,017 square foot lot. The zoning allows for a total of 11 units (9 units and two ADUs). The highest and best use will likely be to add four units in the garage and an additional 4 units in backyard and keep the current three units. The owner recently spent approximately $300,000 to fully remodel and prime the property for development. The two remodeled units are gorgeous with all new kitchens, bathrooms, electrical, hardwood floors, custom tile, custom lighting, stainless steel appliances, in-unit washer/dryers, and more. The property is easy to manage and separately metered for PG&E with low annual operating expenses. This is an ideal opportunity for an investor, developer, or owner-occupant who is seeking a rare development opportunity with strong cash flow potential.