2216 E 23rd St 6 Unit Apartment Building $1,460,000 ($243,333/Unit) 6.69% Cap Rate Oakland, CA 94606

The R&Z Group of Compass Commercial is excited to introduce 2216 E 23rd Street, Oakland, CA to the open market. This well-maintained six-unit apartment building is located in a quiet residential pocket of Oakland and is widely regarded as one of the nicest properties in the immediate area, offering tenants a peaceful setting with convenient access to daily necessities and nearby amenities.
This standout property features a strong and desirable unit mix of (2) 3 Bed, 1 Bath units, (3) 2 Bed, 1 Bath units, and (1) 1 Bed, 1 Bath unit, all of which have been renovated and consistently maintained. Rebuilt in 1974, the building offers one-to-one parking directly in front of the property, an on-site laundry room, and separate PG&E meters, enhancing both tenant appeal and operational efficiency. Additionally, two units are currently vacant, providing immediate upside through owner-occupancy or lease-up to market rents. Offered at a compelling 6.5% cap rate and 9.7 GRM, this asset presents a rare opportunity for stable cash flow with long-term value growth. The sewer lateral has been upgraded as well.
The location offers easy access to major thoroughfares and neighborhood conveniences, making it attractive for both commuters and long-term residents alike. Its quiet residential setting paired with proximity to key parts of Oakland creates an ideal balance of comfort and connectivity for tenants. Don’t miss this excellent opportunity to acquire a turnkey multifamily investment with immediate upside potential. Reach out to The R&Z Group of Compass Commercial today to schedule a viewing and secure 2216 E 23rd Street as your next great investment.
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