Sold
58 Vernon Street
Oakland CA, 94610
$2,995,000
$230.38 per sqft
Sold
13,000 sqft
Commercial
Built in 2020
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.
41038611
MLSⓇ ID
September 9, 2023
Listed
February 12, 2025
Updated
Interior Features
Interior Features
Other, Updated Baths, Updated Kitchen
Appliances
Dishwasher, Disposal, Refrigerator
Floor Description
Hardwood Flrs Throughout
Fireplace
No
Cooling
Yes
Cooling Description
Ceiling Fan(s)
Heating
Yes
Heating Description
Radiant
Exterior/Building Features
Lot Size
0.17 Acres
Lot Features
Regular
Other Property Details
Area Name
Oakland
Garage
Yes
Parking
Enclosed, Security Garage, Space Per Unit - 1, Mechanical Lift
View
No
County
Alameda
Pool
No
Utilities
Sewer Connected, Wired For Cable TV, All Public Utilities, Cable Available, Internet Available
Listing History
Date | Event | Price |
---|---|---|
4/24/2024 | Sold | $2,995,000 |
3/15/2024 | Pending | — |

Listed by Linnette Edwards with Abio Properties
Listing Contact: 925-580-8801
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