1736 23rd Ave, Oakland, CA 94606

1736 23rd Avenue presents a compelling multifamily investment opportunity in the heart of Oakland, offering a strong unit mix diversity, and long-term upside in one of the East Bay’s most supply-constrained rental markets. This three-story property consists of 13 total units, including (1) two-bedroom/one-bath, (5) one-bedroom/one-bath, and (7) studio units, catering to a broad tenant base and providing operational flexibility. Two units are currently vacant, creating an immediate opportunity for a new owner to capture upside through lease-up at market rents.

The property features twelve units within the main building and one detached rear cottage, a highly desirable configuration that adds character and privacy while enhancing the overall tenant appeal. Two units are located on the ground floor at the front of the building, with the remaining ten units spread across the second and third stories. A secured, gated entry provides added peace of mind and reinforces tenant retention.

Strategically located with immediate access to Interstate 880, the property sits less than three miles from Downtown Oakland, placing tenants within close proximity to major employment centers, cultural landmarks, and lifestyle amenities. Nearby attractions include the Fox Theater, Lake Merritt, and a wide array of dining, entertainment, and retail options. The property also benefits from close proximity to the Fruitvale BART Station, offering seamless connectivity throughout the Bay Area, including San Francisco, Berkeley, Walnut Creek, San Jose, and beyond—an increasingly important factor for today’s transit-oriented renter demographic.

The building encompasses approximately 9,352 square feet on a 6,800 square foot lot and is constructed on a concrete perimeter foundation. Parking is available via street parking, unassigned, consistent with similar assets in the surrounding neighborhood.

Units maintain a classic vintage charm, featuring original hardwood floors and windows, a look that continues to resonate with Oakland renters seeking character and authenticity. Several units have already received updates, including modernized kitchen cabinetry and countertops, refreshed paint, and newer flooring, allowing a future owner to continue a light value-add program while preserving the building’s historic appeal. Heating is provided via wall furnaces or baseboard heaters, typical for assets of this vintage.

Overall, 1736 23rd Avenue offers investors a rare opportunity to acquire a well-located, infill Oakland asset with in-place income, immediate upside through vacancy and interior improvements, and long-term appreciation potential driven by strong rental demand and proximity to transit, downtown Oakland, and the greater Bay Area.