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1736 23rd Ave 13 Unit Apartment Building $1,495,000 ($115,000/Unit) 5.38% Cap Rate Oakland, CA 94606
INVESTMENT HIGHLIGHTS
- $115,000 Per Unit! - Immediate rent increases available on all units
- Two vacancies ready for immediate turnover and maximized rents , Electrical upgrade completed
- Huge Upside in Rents and immediate increase to NOI through improved management efficiency
EXECUTIVE SUMMARY
1736 23rd Ave is a prime investment opportunity in Oakland consisting of 13 Units made up of (2) 2 bed 1 bath (4) 1 bed 1 bath (7) large studios. With two units vacant and renovated this property has immediate upside for any buyer. All units are due for rental increases as well as huge upside in rents for each unit. This massive property is 9,352 sq ft and has plenty of potential for any investor. For only $115,000 per unit this is one of the best priced properties in Oakland. Electrical has been upgraded throughout the property. Showing Units Friday January 16th from 9:30am - 11am . Please see link below for all due diligence and financials.
FINANCIAL SUMMARY (PRO FORMA - 2026) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$258,000
|
$27.59
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$7,740
|
$0.83
|
| Effective Gross Income |
$250,260
|
$26.76
|
| Taxes |
$19,105
|
$2.04
|
| Operating Expenses |
$65,775
|
$7.03
|
| Total Expenses |
$84,880
|
$9.08
|
| Net Operating Income |
$165,380
|
$17.68
|
FINANCIAL SUMMARY (PRO FORMA - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $258,000 |
| Annual Per SF | $27.59 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $7,740 |
| Annual Per SF | $0.83 |
| Effective Gross Income | |
|---|---|
| Annual | $250,260 |
| Annual Per SF | $26.76 |
| Taxes | |
|---|---|
| Annual | $19,105 |
| Annual Per SF | $2.04 |
| Operating Expenses | |
|---|---|
| Annual | $65,775 |
| Annual Per SF | $7.03 |
| Total Expenses | |
|---|---|
| Annual | $84,880 |
| Annual Per SF | $9.08 |
| Net Operating Income | |
|---|---|
| Annual | $165,380 |
| Annual Per SF | $17.68 |
PROPERTY FACTS
| Price | $1,495,000 | Apartment Style | Low-Rise |
| Price Per Unit | $115,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 5.38% | Building Size | 9,352 SF |
| Gross Rent Multiplier | 8.78 | No. Stories | 3 |
| No. Units | 13 | Year Built | 1918 |
| Property Type | Multifamily | Parking Ratio | 1.71/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RM2 | ||
| Price | $1,495,000 |
| Price Per Unit | $115,000 |
| Sale Type | Investment |
| Cap Rate | 5.38% |
| Gross Rent Multiplier | 8.78 |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 9,352 SF |
| No. Stories | 3 |
| Year Built | 1918 |
| Parking Ratio | 1.71/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM2 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 7 | - | 600 |
| 1+1 | 4 | - | 750 |
| 2+1 | 2 | - | 900 |
1 1
Walk Score®
Very Walkable (88)
PROPERTY TAXES
| Parcel Number | 020-0205-016-00 | Total Assessment | $1,416,132 (2025) |
| Land Assessment | $421,835 (2025) | Annual Taxes | $19,105 ($2.04/SF) |
| Improvements Assessment | $984,282 (2025) | Tax Year | 2026 |
PROPERTY TAXES
Parcel Number
020-0205-016-00
Land Assessment
$421,835 (2025)
Improvements Assessment
$984,282 (2025)
Total Assessment
$1,416,132 (2025)
Annual Taxes
$19,105 ($2.04/SF)
Tax Year
2026
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1736 23rd Ave
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