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7 Unit in Clinton / Bella Vista Neighborhood 2244 12th Ave 7 Unit Apartment Building $1,859,369 CAD ($265,624 CAD/Unit) 6.71% Cap Rate Oakland, CA 94606
INVESTMENT HIGHLIGHTS
- Upside in Rents w Remodels - Opportunity to upgrade the units and command rents higher over time
- Near Lake Merritt - Short walk to outstanding Lake Merritt area shops, restaurants, bars, and coffee houses.
- Soft Story Exempt - Removed from City of Oakland’s soft story list after an engineer review in 2024.
EXECUTIVE SUMMARY
Cap Rate - 6.66% (Current)
GRM - 8.52(Current)
Cap Rate - 8.78% (Proforma)
GRM - 7.06 (Proforma)
Davide F. Pio proudly presents 2244 12th Ave in Oakland, CA for sale. The multifamily asset features seven (7) units, all of which are large 2 beds / 1 bath. The property has been well-maintained and upgraded over the years. Improvements include city-required point of sale ordinances such as sewer lateral replacement, fire inspection compliance, sidewalk, and removal of the soft story list.
A 2-car garage and small parking lot in addition to a leased laundry room provide additional income. The property allows for both a turn-key investment with upside upon light remodels in some units enabling higher rents.
Located on the Clinton / Bella Vista neighborhood border, the property is located in proximity to local businesses just east of Lake Merritt. A short drive provides quick access to Highway 580 or 880 allowing easy connects to San Francisco, Berkeley, and Silicon Valley.
GRM - 8.52(Current)
Cap Rate - 8.78% (Proforma)
GRM - 7.06 (Proforma)
Davide F. Pio proudly presents 2244 12th Ave in Oakland, CA for sale. The multifamily asset features seven (7) units, all of which are large 2 beds / 1 bath. The property has been well-maintained and upgraded over the years. Improvements include city-required point of sale ordinances such as sewer lateral replacement, fire inspection compliance, sidewalk, and removal of the soft story list.
A 2-car garage and small parking lot in addition to a leased laundry room provide additional income. The property allows for both a turn-key investment with upside upon light remodels in some units enabling higher rents.
Located on the Clinton / Bella Vista neighborhood border, the property is located in proximity to local businesses just east of Lake Merritt. A short drive provides quick access to Highway 580 or 880 allowing easy connects to San Francisco, Berkeley, and Silicon Valley.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$215,217
|
$39.17
|
| Other Income |
$4,518
|
$0.82
|
| Vacancy Loss |
$6,457
|
$1.18
|
| Effective Gross Income |
$213,278
|
$38.81
|
| Taxes |
$32,982
|
$6.00
|
| Operating Expenses |
$56,541
|
$10.29
|
| Total Expenses |
$89,524
|
$16.29
|
| Net Operating Income |
$123,754
|
$22.52
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $215,217 |
| Annual Per SF | $39.17 |
| Other Income (CAD) | |
|---|---|
| Annual | $4,518 |
| Annual Per SF | $0.82 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $6,457 |
| Annual Per SF | $1.18 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $213,278 |
| Annual Per SF | $38.81 |
| Taxes (CAD) | |
|---|---|
| Annual | $32,982 |
| Annual Per SF | $6.00 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $56,541 |
| Annual Per SF | $10.29 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $89,524 |
| Annual Per SF | $16.29 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $123,754 |
| Annual Per SF | $22.52 |
PROPERTY FACTS
| Price | $1,859,369 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $265,624 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.71% | Building Size | 5,495 SF |
| Gross Rent Multiplier | 8.52 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 1.27/1,000 SF |
| Zoning | RM-2 - RM-2 (Mixed Housing Type Residential - 2 Zone) | ||
| Price | $1,859,369 CAD |
| Price Per Unit | $265,624 CAD |
| Sale Type | Investment |
| Cap Rate | 6.71% |
| Gross Rent Multiplier | 8.52 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 5,495 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 1.27/1,000 SF |
| Zoning | RM-2 - RM-2 (Mixed Housing Type Residential - 2 Zone) |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Stainless Steel Appliances
- Quartz Countertops
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Free
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 7 | - | 750 |
1 1
Walk Score®
Very Walkable (75)
PROPERTY TAXES
| Parcel Number | 022-0301-015-00 | Total Assessment | $2,386,398 CAD |
| Land Assessment | $667,535 CAD | Annual Taxes | $32,982 CAD ($6.00 CAD/SF) |
| Improvements Assessment | $1,718,864 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
022-0301-015-00
Land Assessment
$667,535 CAD
Improvements Assessment
$1,718,864 CAD
Total Assessment
$2,386,398 CAD
Annual Taxes
$32,982 CAD ($6.00 CAD/SF)
Tax Year
2025
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7 Unit in Clinton / Bella Vista Neighborhood | 2244 12th Ave
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