2555 Foothill Boulevard, Oakland, CA 94601

Property Description

Offered only as part of a four-building, 181-unit portfolio in Oakland's Fruitvale district at $33,486,000; the buildings are not sold separately. Building 3 of 4: Casa Magna, 2555-2567 Foothill Boulevard. 61 apartments in two three-story buildings on a 0.79-acre parcel, renovated in 2014 down to the studs and foundation: 21 studios, 17 one-bedrooms and 23 two-bedrooms in about 30,012 SF. Gated entry, security cameras, 45 parking spaces including covered carports, and a large on-site laundry room. Separately metered gas and electric. City of Oakland soft-story exemption granted in 2022. Pro forma market rents run about 10% above in-place rents. About 0.7 mi from Fruitvale BART and Fruitvale Village. The portfolio: 1757 26th Ave (39 units), 1900 26th Ave (41 units + 45 garages), 2555-2567 Foothill Blvd (61 units) and 2624 Foothill Blvd (40 units).