220 Athol Ave 25 Unit Apartment Building $6,683,250 CAD ($267,330 CAD/Unit) 6.03% Cap Rate Oakland, CA 94606

Located at 220 Athol Ave in Oakland, this multifamily property presents a compelling investment opportunity with a list price of $4,750,000, translating to
roughly $190,000 per unit and $193.72 per square foot. Constructed in 1966, the property consists of 25 units on a spacious 0.26-acre lot, totaling 24,520 square feet of building area. The asset features a diverse unit mix consisting of (1) 2 bedroom/2-bathroom penthouse unit, (7) two-bedroom/2-bathroom units, (16) 1- bedroom/1-bathroom units, and (1) studio unit. The building is complemented by 25 garage parking spaces that provide ample and convenient access for residents. Zoned R70 under Oakland’s multifamily general plan, the property supports continued multifamily operations in a highly desirable East Bay location.
From a financial perspective, the property offers a current cap rate of 6.03% and a GRM of 9.39, with a current occupancy rate of 96%. Current scheduled rents
total $42,134 per month, which leaves clear upside to market rents of $59,730 per month. With strategic lease-up of the vacant unit and professional management, a pro forma cap rate of 10.17% and a GRM of 6.63 can be achieved, establishing stabilized investment returns. Utilities are efficiently structured, with water master-metered, electric and gas individually metered, and the landlord responsible for the house meter, providing a balanced operating framework.