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2004 27th Ave 7 Unit Apartment Building $1,388,940 CAD ($198,420 CAD/Unit) 6.07% Cap Rate Oakland, CA 94601
INVESTMENT HIGHLIGHTS
- Strong in-place income and significant growth potential.
- Recent capital improvements include upgraded electrical subpanels throughout, ensuring modern infrastructure and reduced future maintenance costs.
- The property is comprised of two separate buildings—a five-unit structure and a duplex—enclosed by a perimeter fence.
EXECUTIVE SUMMARY
Situated on a prominent corner lot at 2004 27th Avenue in Oakland’s 94601 zip code, this well-maintained 7-unit apartment property presents an attractive investment opportunity with strong in-place income and significant growth potential. Priced at just $142,000 per unit, the offering delivers a compelling 6.08% cap rate and 9.32 GRM,
making it one of the most competitively priced multifamily assets in the East Oakland submarket. The property is comprised of two separate buildings—a five-unit structure and a duplex—enclosed by a perimeter fence, providing both privacy and security for residents. Recent capital improvements include upgraded electrical subpanels throughout, ensuring modern infrastructure and reduced future maintenance costs.
Interior upgrades further enhance the property’s desirability, with five of the seven units featuring updated kitchens and bathrooms that appeal to today’s renter preferences. Beyond current performance, the property offers investors over 30% in rental upside, creating an opportunity to drive NOI and substantially increase value over time.
The mix of renovated units, proven rental demand in the surrounding neighborhood, and the corner-lot configuration give investors both stable cash flow today and strong appreciation potential tomorrow— making 2004 27th Avenue an ideal addition to any Oakland multifamily portfolio.
making it one of the most competitively priced multifamily assets in the East Oakland submarket. The property is comprised of two separate buildings—a five-unit structure and a duplex—enclosed by a perimeter fence, providing both privacy and security for residents. Recent capital improvements include upgraded electrical subpanels throughout, ensuring modern infrastructure and reduced future maintenance costs.
Interior upgrades further enhance the property’s desirability, with five of the seven units featuring updated kitchens and bathrooms that appeal to today’s renter preferences. Beyond current performance, the property offers investors over 30% in rental upside, creating an opportunity to drive NOI and substantially increase value over time.
The mix of renovated units, proven rental demand in the surrounding neighborhood, and the corner-lot configuration give investors both stable cash flow today and strong appreciation potential tomorrow— making 2004 27th Avenue an ideal addition to any Oakland multifamily portfolio.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$149,788
|
$40.61
|
| Other Income |
$2,345
|
$0.64
|
| Vacancy Loss |
$4,493
|
$1.22
|
| Effective Gross Income |
$147,639
|
$40.03
|
| Taxes |
$17,749
|
$4.81
|
| Operating Expenses |
$45,536
|
$12.35
|
| Total Expenses |
$63,285
|
$17.16
|
| Net Operating Income |
$84,354
|
$22.87
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $149,788 |
| Annual Per SF | $40.61 |
| Other Income (CAD) | |
|---|---|
| Annual | $2,345 |
| Annual Per SF | $0.64 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $4,493 |
| Annual Per SF | $1.22 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $147,639 |
| Annual Per SF | $40.03 |
| Taxes (CAD) | |
|---|---|
| Annual | $17,749 |
| Annual Per SF | $4.81 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $45,536 |
| Annual Per SF | $12.35 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $63,285 |
| Annual Per SF | $17.16 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $84,354 |
| Annual Per SF | $22.87 |
PROPERTY FACTS
| Price | $1,388,940 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $198,420 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Cap Rate | 6.07% | Building Size | 3,688 SF |
| Gross Rent Multiplier | 9.27 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1920 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R-50, Oakland | ||
| Price | $1,388,940 CAD |
| Price Per Unit | $198,420 CAD |
| Sale Type | Investment |
| Cap Rate | 6.07% |
| Gross Rent Multiplier | 9.27 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 3,688 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1920 |
| Opportunity Zone |
Yes |
| Zoning | R-50, Oakland |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Sprinkler System
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Fenced Lot
- Laundry Facilities
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 1 | $1,932 CAD | - |
| 1+1 | 6 | $1,415 CAD | - |
1 1
Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 026-0741-009-00 | Total Assessment | $1,523,851 CAD (2025) |
| Land Assessment | $458,071 CAD (2025) | Annual Taxes | $17,749 CAD ($4.81 CAD/SF) |
| Improvements Assessment | $1,065,779 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
026-0741-009-00
Land Assessment
$458,071 CAD (2025)
Improvements Assessment
$1,065,779 CAD (2025)
Total Assessment
$1,523,851 CAD (2025)
Annual Taxes
$17,749 CAD ($4.81 CAD/SF)
Tax Year
2024
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2004 27th Ave
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