The Johanna Apartments 1455 1st Ave 18 Unit Apartment Building $5,236,303 CAD ($290,906 CAD/Unit) 5.32% Cap Rate Oakland, CA 94606

1455 1st Avenue, an 18-unit apartment community situated in Oakland's Merritt neighborhood, one block from the eastern shore of Lake Merritt. The property occupies one of the East Lake’s most accessible locations, less than one mile from the Lake Merritt BART station and Interstate 880, providing residents with direct connectivity to local Oakland employment centers, San Francisco, and the broader Bay Area. The property boasts a Walk Score of 92 and a Bike Score of 95, ratings that reflect immediate proximity to local amenities and shopping, including the Oakland City Center, Pacific Renaissance Plaza, and the high concentration of retail and dining found along Downtown Oakland and the Uptown corridors.
1455 1st Avenue features a unit mix of (12) Studios and (6) One-Bedroom/One-Bathroom units, a configuration well-suited to the area's predominant renter demographic of single occupants and couples seeking walkable, transit-oriented living. Tenant amenities include an on-site laundry facility, controlled gated access, and off-street parking. The combination of lakeside amenities, regional connectivity, and urban convenience positions 1455 1st Avenue to attract a robust and diverse renter pool. The property is an excellent opportunity for an owner/user or investor to acquire a well-located Oakland asset with over 14% potential rental upside.