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32277991
32277987

2244 12th Ave, Oakland, CA 94606 For Sale

TZ
CA CA#01962093, TX TX #784905
Compass Commercial Real Estate
KW
CA 02131550
Compass
RR
CA 01999734
Compass Commercial Real Estate
Listed by Compass Commercial Real Estate, Compass
$1,375,000
77 days on market
Updated 77 days ago

2244 12th Ave

Details
APN 022-0301-015-00
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,495
Units 7
Beds 14
Cap Rate 7.81%
NOI $107,366
Occupancy 85.71%
Tenancy Multi
Rent Bumps No
Pro-Forma Cap Rate 9.52%
Pro-Forma NOI $130,879
Price per SqFt $250
Class C
Year Built 1962
Stories 2
Acreage 0.170
Zoning RM-2
Parking Spaces 6 spaces
Parking per 1,000 SqFt 1.09
Investment Type Value Add
Ownership Individual
Sale Condition N/A

Multifamily | 7.81% CAP | 7 Units

Marketing description

Presenting a seven-unit apartment building in Oakland's Clinton Neighborhood, a well-established rental pocket in the East Bay. The building offers a clean, consistent unit mix of seven two-bedroom, one-bathroom apartments, which keeps operations simple and helps maintain steady occupancy. With its mid-century lines, well-kept landscaping, and strong street presence, the property holds its own on the block and continues to draw long-term residents.

Income is supported by more than just the apartments. A double garage is currently rented to the tenant in Unit 3, additional on-site parking is offered to tenants for a monthly fee, and an on-site coin-operated laundry room brings in steady and additional income. The roof is flat and finished with rolled composition, typical for Bay Area buildings of this age. The units are clean and fully rentable in their current condition, while still leaving clear room for an incoming owner to modernize interiors over time and bring rents closer to neighborhood market levels.

Location is a real strength here. Residents are within walking distance of Lake Merritt, the shops and restaurants along Grand Avenue and Lakeshore, and the employment and transit hubs of Downtown Oakland. Quick access to both Interstate 580 and Interstate 880 makes for an easy commute to San Francisco, Silicon Valley, Berkeley, and the rest of the Bay Area. That blend of walkability and freeway access is a big part of why this neighborhood has held strong tenant demand for decades.

For investors looking for a Bay Area apartment building with in-place income today and clear room to add value over time, this Oakland property is worth a closer look.

Investment highlights

  • Presenting a seven-unit apartment building in Oakland's Clinton Neighborhood, a well-established rental pocket in the East Bay.
  • The building offers a clean, consistent unit mix of seven two-bedroom, one-bathroom apartments, which keeps operations simple and helps maintain steady occupancy.
  • With its mid-century lines, well-kept landscaping, and strong street presence, the property holds its own on the block and continues to draw long-term residents.
  • Income is supported by more than just the apartments. A double garage is currently rented to the tenant in Unit 3, additional on-site parking is offered to tenants for a monthly fee, and an on-site coin-operated laundry room brings in steady and additional income.
  • The roof is flat and finished with rolled composition, typical for Bay Area buildings of this age.
  • The units are clean and fully rentable in their current condition, while still leaving clear room for an incoming owner to modernize interiors over time and bring rents closer to neighborhood market levels.
  • Location is a real strength here. Residents are within walking distance of Lake Merritt, the shops and restaurants along Grand Avenue and Lakeshore, and the employment and transit hubs of Downtown Oakland.
  • Quick access to both Interstate 580 and Interstate 880 makes for an easy commute to San Francisco, Silicon Valley, Berkeley, and the rest of the Bay Area.
  • That blend of walkability and freeway access is a big part of why this neighborhood has held strong tenant demand for decades.

Listing Contacts

TZ
CA CA#01962093, TX TX #784905
Compass Commercial Real Estate
KW
CA 02131550
Compass
RR
CA 01999734
Compass Commercial Real Estate
Listed by Compass Commercial Real Estate, Compass

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$107,366.00
$8,947.17/mo

Valuation Metrics

0
DSCR
7.81%
Cap Rate
7.81%
ROI

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Additional Information

Name
Tony Zizzo
License
CA#01962093
Brokerage
Compass
Title
Executive Vice President
Brokerage Address
1133 Minnesota Avenue
Name
Ken Wu
License
02131550
Brokerage
Compass
Brokerage Phone
4158253085
Title
Sr. Investment Advisor
Brokerage Address
1699 Van Ness Avenue
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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