3 Blocks to Lake Merritt | $117,346 Per Unit 184 13th St 98 Unit Apartment Building $16,053,080 CAD ($163,807 CAD/Unit) 7.70% Cap Rate Oakland, CA 94612

The Mitchell Warren Team is pleased to present 184 13th Street, a 98-unit multifamily investment opportunity in the heart of Downtown Oakland. This six-story, elevator-served building spans 76,562 square feet on a 16,000-square-foot corner parcel and features a well-balanced unit mix of studios, one-, two-, and three-bedroom apartments, along with secure lobby access, on-site laundry facilities, and a leasing office. The property has benefited from more than $500,000 in recent capital improvements, including electrical and plumbing upgrades, a new roof, and elevator modernization. Offered at just $126,020 per unit, the asset provides an exceptional entry point into one of Oakland’s most dynamic neighborhoods—less than three blocks from Lake Merritt. The property is being offered at a 33% discount to its 2022 sale price, creating an incredible basis and a rare opportunity to acquire a stabilized asset well below replacement cost.
Positioned just three blocks from Lake Merritt, residents enjoy easy access to parks, waterfront paths, and outdoor recreation while being steps from the vibrant dining and cultural scene of Chinatown and Uptown. The property is also just a five-minute walk to the Lake Merritt BART Station (0.3 miles), with multiple AC Transit bus lines nearby, providing seamless commutes throughout the entire Bay Area. Surrounded by major employers such as Kaiser Permanente, PG&E, Blue Shield of California, Pandora, Clorox, and the Port of Oakland, the property benefits from consistent rental demand. With its combination of central convenience, walkable amenities, and strong employment base, 184 13th Street represents a rare opportunity in one of the Bay Area’s most dynamic urban markets.