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ST Abs NNN | 3% Ann Inc | New 2026 Const 1228 36th Ave 13 Unit Apartment Building $8,225,000 ($632,692/Unit) 7% Cap Rate Oakland, CA 94601
Investment Highlights
- Brand New 7-Year Absolute NNN Lease with 3.0% Annual Increases | Passive and Growing Income Stream with No Management Responsibilities
- Dense/Infill Trade Area Demographics Consisting of Educated, Early Career Professionals with Strong Average Household Incomes
- Located in 13th Largest MSA in the United States (San Francisco Bay Area)
- Infill San Francisco Bay Area Transit-Oriented Location | 2 Blocks from Fruitvale BART Station; Convenient Commuter Access to Regional Employment Hubs
- Underlying 13-Unit Multi-Family Residential Improvements Already Condominium-Mapped, Allowing an Investor Multiple Future Monetization Alternatives
Executive Summary
Lee & Associates is pleased to exclusively present the sale of a newly constructed, single-tenant absolute NNN investment located at 1228 36th Avenue in Oakland, California. This pride-of-ownership asset features a 2026-built, three-story, 17,158-square-foot multifamily residential building mapped for 13 condominiums. The property is leased on a 7-year absolute triple-net basis to Oasis Living, a mission-driven operator specializing in supportive housing for individuals and families facing mental health challenges. The lease includes 3% annual rent escalations and a landlord termination option after year three, offering flexible future value strategies.
Strategically positioned in Oakland’s vibrant Fruitvale neighborhood, the property benefits from an infill, transit-oriented location just two blocks from the Fruitvale BART station - providing convenient access to Downtown San Francisco, UC Berkeley and Silicon Valley employment hubs. Surrounded by a mix of affordable housing communities, public charter schools, and ongoing redevelopment projects, the site is in the heart of a gentrifying East Bay submarket. The building’s condominium mapping enhances long-term exit optionality rarely available in traditional NNN or multifamily investments, appealing to investors seeking both income stability and capital appreciation.
Strategically positioned in Oakland’s vibrant Fruitvale neighborhood, the property benefits from an infill, transit-oriented location just two blocks from the Fruitvale BART station - providing convenient access to Downtown San Francisco, UC Berkeley and Silicon Valley employment hubs. Surrounded by a mix of affordable housing communities, public charter schools, and ongoing redevelopment projects, the site is in the heart of a gentrifying East Bay submarket. The building’s condominium mapping enhances long-term exit optionality rarely available in traditional NNN or multifamily investments, appealing to investors seeking both income stability and capital appreciation.
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Property Facts
Amenities
Unit Amenities
- Air Conditioning
Walk Score®
Walker's Paradise (97)
Transit Score®
Excellent Transit (74)
Bike Score®
Very Bikeable (82)
Property Taxes
| Parcel Numbers | Improvements Assessment | $4,086,012 | |
| Land Assessment | $362,947 | Total Assessment | $4,448,959 |
Property Taxes
Parcel Numbers
Land Assessment
$362,947
Improvements Assessment
$4,086,012
Total Assessment
$4,448,959
Contacts
-
Jonathan Selznick -
Tyler Clark -
Ryan Bennett -
Lee & Associates Commercial Real Estate Services
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ST Abs NNN | 3% Ann Inc | New 2026 Const | 1228 36th Ave
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