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881 Erie St
Oakland, CA 94610
Multifamily Property For Sale
·
4 Units
Investment Highlights
- Trader Joe's, Peet's Coffee, Walgreens, and a full slate of neighborhood retail and dining sit just blocks away.
- One garage per unit with automatic openers — a near-impossible amenity to replicate in vintage Oakland multifamily.
- Owner-occupy at ~$2,750/mo market value with hills views and three units offsetting most of the mortgage, or lease at market rate.
Executive Summary
Vintage 1926 Oakland Fourplex Between Grand & Lakeshore — $362,500/Unit, Owner-Occupier Unit Delivered Vacant with Oakland Hills Views. Spanish-style stucco beauty in one of Oakland's most amenity-rich pockets. Trader Joe's, Peet's, Walgreens, and the Saturday Grand Lake Farmers Market sit just blocks away. Lake Merritt is nearby. Three occupied units throw off $87,672 in annual income while Unit 4 delivers vacant — pick it up at market or move in and take in the serene Oakland Hills views yourself. Four 2BR/1BA units (~910 SF each) with refinished hardwood floors, crown molding, updated kitchens, and stainless appliances. The operational story is just as strong: four private garages (one per unit), 2025 EV-charging sub-panel, separate gas and electric meters per unit, app-to-pay basement laundry, three storage rooms, Schlage keyless entries, Ring cameras, automatic garden watering, 2025 water heater, and 2020 Lennox furnaces. Vintage character, modern systems, real upside. $1,450,000.
TRANSPARENT PRICE. Unit 4 is vacant and can be shown via Calendly.
Contact Joey at joey.wang@loremultifamily.com with questions.
For the offering memorandum and inspection reports, go to https://www.loremultifamily.forsale/
Offers are due on Tuesday, 6/9, at noon.
Disclaimer: The photos in this listing have been digitally enhanced.
TRANSPARENT PRICE. Unit 4 is vacant and can be shown via Calendly.
Contact Joey at joey.wang@loremultifamily.com with questions.
For the offering memorandum and inspection reports, go to https://www.loremultifamily.forsale/
Offers are due on Tuesday, 6/9, at noon.
Disclaimer: The photos in this listing have been digitally enhanced.
Property Facts
| Price Per Unit | $498,423 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 5.50% | Building Size | 4,248 SF |
| Gross Rent Multiplier | 10.8 | Average Occupancy | 75% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1926 |
| Property Subtype | Apartment | Parking Ratio | 0.94/1,000 SF |
| Price Per Unit | $498,423 CAD |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| Gross Rent Multiplier | 10.8 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 4,248 SF |
| Average Occupancy | 75% |
| No. Stories | 2 |
| Year Built | 1926 |
| Parking Ratio | 0.94/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $3,648 CAD | 910 |
Property Taxes
| Parcel Number | 011-0840-003-02 | Improvements Assessment | $1,491,832 CAD |
| Land Assessment | $639,356 CAD | Total Assessment | $2,131,188 CAD |
Property Taxes
Parcel Number
011-0840-003-02
Land Assessment
$639,356 CAD
Improvements Assessment
$1,491,832 CAD
Total Assessment
$2,131,188 CAD
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