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Turn-key Fourplex | Large ~1,000 SF Units 256 29th St 4 Unit Apartment Building $2,479,254 CAD ($619,813 CAD/Unit) 5.33% Cap Rate Oakland, CA 94611
Investment Highlights
- Four ~1,000 SF 2-bedroom units plus one in-law unit
- Substantial rental upside with a 6.5% cap rate on market rents
- Pride of ownership asset with top of the line renovations and capital expenditures
- Owner's unit to be delivered vacant - ideal opportunity for an owner-user
- Large 6,274 lot presents a wealth of opportunity to add ADU's where three detached garages stand
- Sought after Adam's Point location one block from Sprouts shopping center
Executive Summary
OPEN HOUSE: Saturday March 28th and Sunday March 29th - 12:00 pm - 2:00 pm
Introducing 254–256 29th Street, a compelling investment opportunity located in Oakland’s highly sought-after Adams Point neighborhood. This 4,308 SF property, originally built in 1926, consists of four spacious ~1,000 SF 2-bedroom, 1-bathroom units, along with an additional 2-bedroom, 1- bathroom in-law unit. The building has been thoughtfully upgraded and meticulously maintained, featuring modernized interiors with renovated kitchens and bathrooms, stainless steel appliances, and updated flooring
throughout. Two units are currently vacant, offering immediate upside for an owner-occupant or the ability to achieve market rents for a pure investment play.
Situated on a generous lot, the property presents strong potential for additional ADU development in place of the three detached garages (buyer to verify). The asset is separately metered for gas and electricity, with individual water heaters for each unit, contributing to efficient operations and reduced expenses. With its prime location, strong in-place fundamentals, and clear value-add potential, 254–256 29th Street represents a rare opportunity to acquire a well-performing asset with both
stability and upside in one of Oakland’s most desirable rental markets.
256 29th Street is located in Oakland's Adam's Point/ Westlake neighborhood. This highly sought after location is within walking/ biking distance to some of Oakland's top neighborhoods, including Grand Lake, Piedmont Avenue, and downtown. Tenants enjoy being one block from Grocery Outlet as well as a short walk to the shops on Broadway such as Sprouts, CVS Pharmacy, Starbucks, Chipotle, and many more. The commuter central location provides easy access to 19th Street BART, I-580, I-880, I-980, leading to main employment hubs in downtown Oakland, Berkeley, and San Francisco.
Introducing 254–256 29th Street, a compelling investment opportunity located in Oakland’s highly sought-after Adams Point neighborhood. This 4,308 SF property, originally built in 1926, consists of four spacious ~1,000 SF 2-bedroom, 1-bathroom units, along with an additional 2-bedroom, 1- bathroom in-law unit. The building has been thoughtfully upgraded and meticulously maintained, featuring modernized interiors with renovated kitchens and bathrooms, stainless steel appliances, and updated flooring
throughout. Two units are currently vacant, offering immediate upside for an owner-occupant or the ability to achieve market rents for a pure investment play.
Situated on a generous lot, the property presents strong potential for additional ADU development in place of the three detached garages (buyer to verify). The asset is separately metered for gas and electricity, with individual water heaters for each unit, contributing to efficient operations and reduced expenses. With its prime location, strong in-place fundamentals, and clear value-add potential, 254–256 29th Street represents a rare opportunity to acquire a well-performing asset with both
stability and upside in one of Oakland’s most desirable rental markets.
256 29th Street is located in Oakland's Adam's Point/ Westlake neighborhood. This highly sought after location is within walking/ biking distance to some of Oakland's top neighborhoods, including Grand Lake, Piedmont Avenue, and downtown. Tenants enjoy being one block from Grocery Outlet as well as a short walk to the shops on Broadway such as Sprouts, CVS Pharmacy, Starbucks, Chipotle, and many more. The commuter central location provides easy access to 19th Street BART, I-580, I-880, I-980, leading to main employment hubs in downtown Oakland, Berkeley, and San Francisco.
Property Facts
| Price | $2,479,254 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $619,813 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 5.33% | Building Size | 4,308 SF |
| Gross Rent Multiplier | 12.09 | Average Occupancy | 96% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1926 |
| Property Subtype | Apartment | Parking Ratio | 1.39/1,000 SF |
| Zoning | R70, Oakland - Residential -Medium Density | ||
| Price | $2,479,254 CAD |
| Price Per Unit | $619,813 CAD |
| Sale Type | Investment |
| Cap Rate | 5.33% |
| Gross Rent Multiplier | 12.09 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 4,308 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built | 1926 |
| Parking Ratio | 1.39/1,000 SF |
| Zoning | R70, Oakland - Residential -Medium Density |
Amenities
Unit Amenities
- Dishwasher
- Disposal
- Washer/Dryer
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Tub/Shower
- Walk-In Closets
- Yard
- Dining Room
- Family Room
- Mother-in-law Unit
Site Amenities
- Courtyard
- Fenced Lot
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Strong public transit
80/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 010-0803-004-00 | Improvements Assessment | $1,600,062 CAD |
| Land Assessment | $685,741 CAD | Total Assessment | $2,285,803 CAD |
Property Taxes
Parcel Number
010-0803-004-00
Land Assessment
$685,741 CAD
Improvements Assessment
$1,600,062 CAD
Total Assessment
$2,285,803 CAD
Contacts
-
Jonathan Burmenko -
Grant Chappell -
Robert Chappell -
Sam Hayes -
NAI Northern California
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Turn-key Fourplex | Large ~1,000 SF Units | 256 29th St
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