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2550 35th Ave 18 Unit Apartment Building $3,653,475 CAD ($202,971 CAD/Unit) 5.29% Cap Rate Oakland, CA 94601
Executive Summary
Bay's Elite Investments is pleased to present to the seasoned investors a unique investment property in a solid Oakland location in the Bartlett/Allendale
neighborhood. This 18 unit apartment complex features Six 2 bed/1bath and Twelve 1bed/1bath units with and four 1bd/1bth units with market rate tenants, with an excellent long-term upside.
The property was originally built in 1954, offers approximately 11,960 square feet of rental space, and sits on a 1/2 acre lot with 18 parking space, majority of them being carports (1 to 1 ratio). Some units have been remodeled over time and offer newer kitchens and bathrooms, vinyl floors, and so on.
The building is located about 3 minutes from 580 freeway with a quick and easy commute to Oakland Lake Merritt or a 30 minute drive to downtown San Francisco. Fruitvale BART is literary a 5 minute drive or bike ride south on 35th Ave or 10 minutes on bus.
The current owners have made substantial capital expenditures in the property in the past several years. The roof of both buildings have been replaced and recoated in 2024 and 2025 at a cost of approximately $40,000. The property has been earthquake retrofitted at a cost of about $110,000 in 2024. The building electrical panels and subpanels were fully upgraded in June of 2025 at a cost of $40,000. Finally, all the units have been extensively rehabbed upon turnover.
The property is wells maintained and easy to manage and is separately metered for PG&E providing for low annual operating expenses. The property is priced well below the replacement cost. It offers a new investor tremendous of 30-40% upside by raising rents through buy-out or other means.
neighborhood. This 18 unit apartment complex features Six 2 bed/1bath and Twelve 1bed/1bath units with and four 1bd/1bth units with market rate tenants, with an excellent long-term upside.
The property was originally built in 1954, offers approximately 11,960 square feet of rental space, and sits on a 1/2 acre lot with 18 parking space, majority of them being carports (1 to 1 ratio). Some units have been remodeled over time and offer newer kitchens and bathrooms, vinyl floors, and so on.
The building is located about 3 minutes from 580 freeway with a quick and easy commute to Oakland Lake Merritt or a 30 minute drive to downtown San Francisco. Fruitvale BART is literary a 5 minute drive or bike ride south on 35th Ave or 10 minutes on bus.
The current owners have made substantial capital expenditures in the property in the past several years. The roof of both buildings have been replaced and recoated in 2024 and 2025 at a cost of approximately $40,000. The property has been earthquake retrofitted at a cost of about $110,000 in 2024. The building electrical panels and subpanels were fully upgraded in June of 2025 at a cost of $40,000. Finally, all the units have been extensively rehabbed upon turnover.
The property is wells maintained and easy to manage and is separately metered for PG&E providing for low annual operating expenses. The property is priced well below the replacement cost. It offers a new investor tremendous of 30-40% upside by raising rents through buy-out or other means.
Property Facts
| Price | $3,653,475 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $202,971 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.50 AC |
| Cap Rate | 5.29% | Building Size | 24,576 SF |
| Sale Condition | 1031 Exchange | No. Stories | 2 |
| No. Units | 18 | Year Built | 1956 |
| Property Type | Multifamily | Parking Ratio | 1/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R-70, Oakland | ||
| Price | $3,653,475 CAD |
| Price Per Unit | $202,971 CAD |
| Sale Type | Investment |
| Cap Rate | 5.29% |
| Sale Condition | 1031 Exchange |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.50 AC |
| Building Size | 24,576 SF |
| No. Stories | 2 |
| Year Built | 1956 |
| Parking Ratio | 1/1,000 SF |
| Zoning | R-70, Oakland |
Amenities
Unit Amenities
- Heating
- Kitchen
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 18 | - | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 032-2101-035-00 | Improvements Assessment | $2,330,439 CAD |
| Land Assessment | $887,673 CAD | Total Assessment | $3,218,112 CAD |
Property Taxes
Parcel Number
032-2101-035-00
Land Assessment
$887,673 CAD
Improvements Assessment
$2,330,439 CAD
Total Assessment
$3,218,112 CAD
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2550 35th Ave
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