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2529 E 27th St
Oakland, CA 94601
Multifamily Property For Sale
·
6 Units
Investment Highlights
- 29% rent upside to market ($1,972 in-place vs. $2,551 market average)
- Individually metered gas/electric, on-site storage, and in-unit laundry
- Fully occupied 6-unit building with 12 parking spaces (2 per unit)
Executive Summary
2529 E 27th St is a six-unit, value-add multifamily investment in East Oakland's Reservoir Hill submarket, minutes from Highland Hospital and one block from Manzanita Elementary School. The location offers convenient access to I-580 and I-880, connecting residents to Downtown Oakland, the East Bay, and the greater Bay Area job market. The surrounding neighborhood is a stable rental corridor with consistent tenant demand from healthcare workers, families, and commuters.
Built in 1961, the property comprises six 2BR/1BA units averaging approximately 737 square feet each, with defined living and dining areas. The building offers 12 parking spaces (two per unit), on-site storage, individually metered gas and electric, a bonus flex room in Unit 3, and in-unit laundry in one residence. Offered at $1,100,000 ($183,333/unit, $238/SF), the property is fully occupied and generates $77,067 in net operating income, reflecting a 7.01% going-in cap rate and 7.6 GRM. Current rents average $1,972/month against an estimated market rent of $2,551, creating approximately 29% upside on turnover and a projected 10% cap rate at market — a compelling value-add opportunity for investors seeking in-place cash flow with clear upside potential.
Built in 1961, the property comprises six 2BR/1BA units averaging approximately 737 square feet each, with defined living and dining areas. The building offers 12 parking spaces (two per unit), on-site storage, individually metered gas and electric, a bonus flex room in Unit 3, and in-unit laundry in one residence. Offered at $1,100,000 ($183,333/unit, $238/SF), the property is fully occupied and generates $77,067 in net operating income, reflecting a 7.01% going-in cap rate and 7.6 GRM. Current rents average $1,972/month against an estimated market rent of $2,551, creating approximately 29% upside on turnover and a projected 10% cap rate at market — a compelling value-add opportunity for investors seeking in-place cash flow with clear upside potential.
Property Facts
| Price Per Unit | $258,628 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 7.01% | Building Size | 4,620 SF |
| Gross Rent Multiplier | 7.6 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 2.6/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R50, Oakland - The City has approved the construction for 2 more ADU units. | ||
| Price Per Unit | $258,628 CAD |
| Sale Type | Investment |
| Cap Rate | 7.01% |
| Gross Rent Multiplier | 7.6 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 4,620 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 2.6/1,000 SF |
| Zoning | R50, Oakland - The City has approved the construction for 2 more ADU units. |
Amenities
Site Amenities
- Laundry Facilities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | $3,041 CAD | 737 |
Property Taxes
| Parcel Number | 026-0785-005-00 | Improvements Assessment | $1,023,940 CAD |
| Land Assessment | $438,453 CAD | Total Assessment | $1,462,392 CAD |
Property Taxes
Parcel Number
026-0785-005-00
Land Assessment
$438,453 CAD
Improvements Assessment
$1,023,940 CAD
Total Assessment
$1,462,392 CAD
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