Description
Eight 2BR/1BA units near Lake Merritt offering a 6.23% current cap rate and 8.20% at market rents. Average scheduled rent of $2,186 trails the $2,600 market rent by 18.9%. Six of eight units are renovated, and one vacant unit is scheduled at market. Oakland rents rose 13.0% year over year as of July 2026 (Apartment List), second-fastest among the 100 largest U.S. cities, as San Francisco's AI-driven rent surge pushes renters east. Current NOI $118,092; NOI at market rents $155,330.
Details
| MLS # | 41151543 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1959 |
| Days On Site | 8 |
| Listing Provided By | Marcus & Millichap | Joseph Owens |
Features
| Units | 8 |
|---|---|
| Acreage | 0.14 |
| Property View | Yes |
Interior
| Cooling | None |
|---|---|
| Heating | Forced Air |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
Exterior
| Construction Materials | Wood Siding |
|---|
Taxes
| Property | 31711 |
|---|
Area Information
| State | CA |
|---|---|
| County | Alameda |
| City | Oakland |
| Zip Code | 94606 |
| Community Name | LAKE MERRITT |
| Listing VS Median (in LAKE MERRITT) | |
Price: $1,895,000 low | high Med: $845,000 On site: 8 low | high Med: 86 | |
Market Activity 94606
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Learn More About This Property
| State | CA |
|---|---|
| County | Alameda |
| City | Oakland |
| Zip Code | 94606 |
| Community Name | LAKE MERRITT |
| Listing VS Median (in LAKE MERRITT) | |
Price: $1,895,000 low | high Med: $845,000 On site: 8 low | high Med: 86 | |
Listing Updated: October 23, 2026 at 12:55:40 AM PDT