350 Newton Avenue, Oakland, CA 94606; Multifamily Properties For Sale; A-1 in Alameda County

350 Newton Avenue, Oakland, CA 94606

Property Type: Multifamily
Property Sub-Type – Garden/Low-Rise
No.Units: 42
Building Size: 30,012 SF
Lot Size: 0.54 AC
Price: $7,450,000
Price/Unit: $177,380.95

Description

The East Bay Multifamily Team of Colliers International is pleased to present the opportunity to acquire 350 Newton Avenue; a 42-unit apartment community in Oakland, CA. The building is conveniently located just three blocks from Lake Merritt and two blocks from FM Smith Park. One of the most compelling attributes of 350 Newton Avenue is the evidence of an immediate renovation upside. Given the quality of construction, recent seismic upgrades and proximity to Lake Merritt, there is value-add potential through cosmetic upgrades to the unit interiors, the building exterior as well as community amenities.