SOLD 04/22/2024
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Commercial sold for $2,995,000 in 228 days
58 Vernon St Oakland, CA, 94610
Off the market Apt Complex
The Faraday plan approved 9 unit building is a rare portfolio opportunity to acquire a newly constructed asset in a prime Oakland neighborhood close to major employers, transportation corridors, shopping, dining and entertainment. The essentials are all here – electrical, plumbing, security systems, and more. Two stunning penthouse units are move-in ready. Additional units are your blank canvas! See photos and website for more info. Oakland is California’s 8th most populous city. The investment appeal includes the city’s historically low housing inventory and its high concentration of tech,healthcare,green energy,& fin-tech companies. Workers drawn here by major employers like Kaiser Permanente, Renew Financial, Pandora music streaming, and Clorox. Other regional giants include Bayer, Blue Shield, Pixar Animation Studios, Tesla, Workday, 10x Genomics, UC Berkeley and three National Laboratories (Berkeley, Livermore and Sandia). The Faraday is the first new construction of its kind in Oakland’s Adams Point neighborhood since 1972. Nationwide, multifamily construction for sale is at historic lows. Construction costs and approval times make it unlikely that new construction will flood the Bay Area market or the high demand for housing will be met anytime soon.
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Property details
13,000 sqft interior area
Land area
7,362 sqft (0.17 acres)
Address
58 Vernon St, Oakland, CA, 94610
City of California
Oakland
County
Alameda
Previous price
$6,000,000
Year Built
2020
District
Listing
Virtual Tour
Nearby major retailers
Public Storage
7-Eleven
CVS Pharmacy
Safeway
Trader Joe's
Safeland Super Market
Kohl's
Whole Foods Market
Pet Food Express
Petco
TJ Maxx
The Home Depot
Marshalls
Apple Store
Ross
AT&T
O'Reilly Auto Parts
Verizon Wireless
T-Mobile
See's Candies
GNC
MetroPCS
Supercuts
AutoZone
Dollar Tree
Chevron Food Mart
Shell
Amazon 4-star
Pet food express
Nordstrom
GameStop
Toyota
7-eleven
Storage rental: 3
Convenience: 18
Chemist: 1
Supermarket: 12
Greengrocer: 3
Department store: 8
Pet: 7
Do it yourself: 2
Electronics: 2
Mobile phone: 16
Car parts: 6
Confectionery: 2
Nutrition supplements: 2
Hairdresser: 2
Variety store: 1
Video games: 1
Car repair: 1
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Interior Features
Hardwood Flrs Throughout floors
Floor Covering
Hardwood Flrs Throughout
Garage & Parking
Enclosed, Security Garage, Space Per Unit - 1, Mechanical Lift
Utilities Included
Sewer Connected, Wired For Cable TV, All Public Utilities, Cable Available, Internet Available
Other rooms
Other, Updated Baths, Updated Kitchen
Amenities
Other
Appliances
Dishwasher, Disposal, Refrigerator
Basement
None
Listed by
Linnette Edwards, Abio Properties
Name
Linnette Edwards
License number
01342728
Brokerage company
Abio Properties
MLS #
41038611
Buyer agent
Name
Linnette Edwards
Brokerage company
Abio Properties
Payment calculator
Calculate your monthly payments
Mortgage
$9,196
Taxes
$0
HOA dues
$0
Mortgage
$599,000 / 20%
2.28%
30 years
Your amount
$9,196 / month
Exterior Features
Stucco construction and more
Construction
Stucco
Lot details
TMK #10769113
Lot Description
Regular
Parcel nr.
10769113
94610 info
Essentials nearby
Neighborhood stats
Walkability
Coffee shops
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no data
Bus stop
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no data
Supermarket
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no data
Costco
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no data
Hospital
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no data
Park
—
no data
Beach
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no data
Elementary school
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no data
Middle school
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no data
High school
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no data
Local airport
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no data
People living in 94610
40%
Families with children
National average: 39%
53%
Non family households
400,100
Population
$120,833
Average Income
Age & gender
Median age 38 years
More info
Commute types
52% commute by car
More info
Education level
32% have bachelor education
More info
Number of employees
2% work in management
More info
Vehicles available
47% have 1 vehicle
More info
Vehicles by gender
47% have 1 vehicle
More info
Housing market insights for
$1.21m
Neighborhood average
sales price*
sales price*
$970.16k
Neighborhood median
sales price*
sales price*
669
Number
of sales*
of sales*
Housing type
31% are single detacheds
More info
Rooms
33% of the houses have 4 or 5 rooms
More info
Bedrooms
49% have 2 or 3 bedrooms
More info
Owners vs Renters
63% are renters
More info
15.83 / 20
Most Walkable
►
15-20
Most Walkable
10-15
Above Average
5-10
Below Average
1-5
Least Walkable
Walkability according to the National Walkability Index
Price history
Sold Apr 22, 2024
| Date | Event | Price | $/sqft | Source |
|---|---|---|---|---|
| Apr 22, 2024 | Sold | $2,995,000 | 0 | Public Record |
| Apr 22, 2024 | Price Decrease | $2,995,000 -45.55% | 0 | MLS #41038611 |
| Mar 15, 2024 | Pending | $5,500,000 | 0 | MLS #41038611 |
| Jan 30, 2024 | Price Decrease | $5,500,000 -8.33% | 0 | MLS #41038611 |
| Sep 8, 2023 | New Listing | $6,000,000 | 0 | MLS #41038611 |
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Frequently Asked Questions about 58 Vernon St
What is 58 Vernon St?
58 Vernon St is a Commercial/Industrial propertywith 13,000 sqft interior space.
What is the rental income?
-
What is the full address of this Commercial?
58 Vernon St, Oakland, CA, 94610.
What comparable properties are nearby?
Comparable nearby commercial properties include 2821 Telegraph Ave, 1455 1st Ave, 821 Webster St, 1506 4th Ave, 2712-2726 Park Blvd, 2710-2726 Park Blvd.
Based on information from the bridgeMLS as of 05-05-2024. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Listing last updated on: Apr 24, 2024
Verhouse Last checked 9 minutes ago
The closest grocery stores are Whole Foods Market, 0.07 miles away and Grocery Outlet, 0.37 miles away.
The 94610 zip area has a population of 400,100, and 40% of the families have children. The median age is 38.29 years and 52% commute by car. The most popular housing type is "single detached" and 63% is renter.
