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Listed by Susie Lee Metapoint
$1,995,000
Est. payment /mo
5 Beds
4,500 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 4,500 sqft
Price per Sqft $443
MLS Listing ID 425067864
Bedrooms 5
HOA Y/N No
Lot Size 1,875 Sqft
Acres 0.043
Property Sub-Type Mixed Use
Property Description
823 Webster Street offers an exceptional income-producing opportunity in the heart of Oakland's Chinatown. This mixed-use building features separate residential and retail entries, prime Webster Street frontage, and heavy daily foot traffic. The ground floor is a restaurant space with a pro forma rent of $5,000 per month, while the upper floors contain five residential units: one 3BR/2BA at $3,450/mo pro forma, two 1BR/1BA units at $2,100 current and $1,795/mo pro forma, and two studios at $600 and $1,495/mo. Combined, the building generates approximately $14,440/month ($173,280 annually), offering an 8.7% gross cap rate at the $1,995,000 asking price. The property sits in a central location near Pacific Renaissance Plaza, Downtown Oakland, and major hospitals including Kaiser Permanente Oakland, Alta Bates Summit Medical Center, and Highland Hospital. Excellent transit options include Lake Merritt BART, 12th Street BART, multiple AC Transit lines, and quick access to I-880, I-980, and I-580, ensuring convenience for both tenants and retail customers. 823 Webster Street combines stable rental income with prime location, making it a rare and attractive opportunity for investors.
Location
State CA
County Alameda
Area Oakland Zip 94607
Interior
Fireplace No
Building
Lot Description None
Level or Stories Multi/Split, Three Or More
New Construction Yes
Others
Tax ID 0010193008
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Rebecca Brooks
San Francisco Bay Area Team Leader/Broker Associate | License ID: 1249870
San Francisco Bay Area Team Leader/Broker Associate License ID: 1249870