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2120 E 22nd St 4 Unit Apartment Building $1,216,753 CAD ($304,188 CAD/Unit) 7.04% Cap Rate Oakland, CA 94606
Investment Highlights
- All Two-bedroom/One-bath Units
- Excellent Cash Flow Offers High Cap Rate
- Onsite Laundry and Parking
Executive Summary
Attention Investors I2120 E 22nd Street · Oakland, CA 94606
Offered at $895,000 | 7.04% Cap Rate | 9.61× GRM
A fully occupied, cash-flowing four-unit investment in Oakland's Clinton/San Antonio district — offered at a 7.04% cap rate with $62,992 in net operating income and $7,762 in monthly gross rents collected today.
All four units are 2-bedroom/1-bath, currently generating $93,143 in gross scheduled rent annually. Three of the four units are renting at or near market, with Unit A at $2,335/mo and Unit C at $2,046/mo — reflecting the strength of renovated product in this submarket. The one legacy tenant (Unit B, $1,381/mo) represents genuine upside, subject to Oakland RAP CPI increases over time.
The two-story wood-frame building has been refreshed throughout — renovated kitchens with quartz countertops, stained hardwood cabinetry, subway tile backsplash, and luxury vinyl plank flooring across all units. The property features a security-gated front and rear entry, private side yard, and rear surface parking lot. Tenants are individually sub-metered for electric and gas, keeping owner utility exposure lean — water, sewer, and garbage represent the bulk of operating costs at just 32.4% of GSR.
At $223,750/unit and a sub-10× GRM, this is the type of stabilized East Bay multifamily that is increasingly hard to find — clean, income-producing, and priced to move.
Key Metrics
Offering Price: $895,000 · Price/Unit: $223,750 · GRM: 9.61× · Cap Rate: 7.04% · NOI: $62,992 · Monthly Gross Rents: $7,762 · Units: 4 × 2BR/1BA · 100% Occupied
Offered at $895,000 | 7.04% Cap Rate | 9.61× GRM
A fully occupied, cash-flowing four-unit investment in Oakland's Clinton/San Antonio district — offered at a 7.04% cap rate with $62,992 in net operating income and $7,762 in monthly gross rents collected today.
All four units are 2-bedroom/1-bath, currently generating $93,143 in gross scheduled rent annually. Three of the four units are renting at or near market, with Unit A at $2,335/mo and Unit C at $2,046/mo — reflecting the strength of renovated product in this submarket. The one legacy tenant (Unit B, $1,381/mo) represents genuine upside, subject to Oakland RAP CPI increases over time.
The two-story wood-frame building has been refreshed throughout — renovated kitchens with quartz countertops, stained hardwood cabinetry, subway tile backsplash, and luxury vinyl plank flooring across all units. The property features a security-gated front and rear entry, private side yard, and rear surface parking lot. Tenants are individually sub-metered for electric and gas, keeping owner utility exposure lean — water, sewer, and garbage represent the bulk of operating costs at just 32.4% of GSR.
At $223,750/unit and a sub-10× GRM, this is the type of stabilized East Bay multifamily that is increasingly hard to find — clean, income-producing, and priced to move.
Key Metrics
Offering Price: $895,000 · Price/Unit: $223,750 · GRM: 9.61× · Cap Rate: 7.04% · NOI: $62,992 · Monthly Gross Rents: $7,762 · Units: 4 × 2BR/1BA · 100% Occupied
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$126,628
|
$44.28
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$126,628
|
$44.28
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$40,992
|
$14.33
|
| Net Operating Income |
$85,636
|
$29.94
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $126,628 |
| Annual Per SF | $44.28 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $126,628 |
| Annual Per SF | $44.28 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $40,992 |
| Annual Per SF | $14.33 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $85,636 |
| Annual Per SF | $29.94 |
Property Facts
| Price | $1,216,753 CAD | Apartment Style | Garden |
| Price Per Unit | $304,188 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 7.04% | Building Size | 2,860 SF |
| Gross Rent Multiplier | 9.6 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 2/1,000 SF |
| Zoning | Residential | ||
| Price | $1,216,753 CAD |
| Price Per Unit | $304,188 CAD |
| Sale Type | Investment |
| Cap Rate | 7.04% |
| Gross Rent Multiplier | 9.6 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 2,860 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 2/1,000 SF |
| Zoning | Residential |
Amenities
Unit Amenities
- Double Pane Windows
Site Amenities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $2,536 CAD | 715 |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 022-0296-012-03 | Improvements Assessment | $1,174,113 CAD |
| Land Assessment | $503,191 CAD | Total Assessment | $1,677,304 CAD |
Property Taxes
Parcel Number
022-0296-012-03
Land Assessment
$503,191 CAD
Improvements Assessment
$1,174,113 CAD
Total Assessment
$1,677,304 CAD
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Presented by
MKD Group Realty
2120 E 22nd St
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