This very nostalgic 61 unit property is conveniently located in the Fruitvale District, situated right in the heart of Oaklands central business district and close to Lake Merritt. Casa Magna Apartments is a gated three story apartment complex consisting of two separate structures offering a total of 30,012 square feet of living space on a .79 acre lot. This building was substantially renovated in 2014 down to the studs and foundation. This freshly renovated expansive property is well maintained, beautifully, and professionally landscaped. There is a large laundry room generating substantial monthly income. With 31% upside in rents, this building allows the next owner to increase returns and leverage investment in the hot Oakland market. Casa Magna offers affordable living with great potential and a strong sense of community, particularly appealing to those seeking proximity to medical facilities and a diverse, established neighborhood. The mixture of units on the property has: (22) 2 bedroom / 1 bath, (21) studio units / 1 bath, (18) 1 bedroom / 1 bath. Various apartment units have a balcony or patio. There is ample covered carport parking for cars, and off street parking. You will find multiple security features including monitoring cameras and gated entry.