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7 Unit in Clinton / Bella Vista Neighborhood 2244 12th Ave 7 Unit Apartment Building $1,350,000 ($192,857/Unit) 6.71% Cap Rate Oakland, CA 94606
INVESTMENT HIGHLIGHTS
- Upside in Rents w Remodels - Opportunity to upgrade the units and command rents higher over time
- Near Lake Merritt - Short walk to outstanding Lake Merritt area shops, restaurants, bars, and coffee houses.
- Soft Story Exempt - Removed from City of Oakland’s soft story list after an engineer review in 2024.
EXECUTIVE SUMMARY
Cap Rate - 6.66% (Current)
GRM - 8.52(Current)
Cap Rate - 8.78% (Proforma)
GRM - 7.06 (Proforma)
Davide F. Pio proudly presents 2244 12th Ave in Oakland, CA for sale. The multifamily asset features seven (7) units, all of which are large 2 beds / 1 bath. The property has been well-maintained and upgraded over the years. Improvements include city-required point of sale ordinances such as sewer lateral replacement, fire inspection compliance, sidewalk, and removal of the soft story list.
A 2-car garage and small parking lot in addition to a leased laundry room provide additional income. The property allows for both a turn-key investment with upside upon light remodels in some units enabling higher rents.
Located on the Clinton / Bella Vista neighborhood border, the property is located in proximity to local businesses just east of Lake Merritt. A short drive provides quick access to Highway 580 or 880 allowing easy connects to San Francisco, Berkeley, and Silicon Valley.
GRM - 8.52(Current)
Cap Rate - 8.78% (Proforma)
GRM - 7.06 (Proforma)
Davide F. Pio proudly presents 2244 12th Ave in Oakland, CA for sale. The multifamily asset features seven (7) units, all of which are large 2 beds / 1 bath. The property has been well-maintained and upgraded over the years. Improvements include city-required point of sale ordinances such as sewer lateral replacement, fire inspection compliance, sidewalk, and removal of the soft story list.
A 2-car garage and small parking lot in addition to a leased laundry room provide additional income. The property allows for both a turn-key investment with upside upon light remodels in some units enabling higher rents.
Located on the Clinton / Bella Vista neighborhood border, the property is located in proximity to local businesses just east of Lake Merritt. A short drive provides quick access to Highway 580 or 880 allowing easy connects to San Francisco, Berkeley, and Silicon Valley.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$156,259
|
$28.44
|
| Other Income |
$3,280
|
$0.60
|
| Vacancy Loss |
$4,688
|
$0.85
|
| Effective Gross Income |
$154,851
|
$28.18
|
| Taxes |
$23,947
|
$4.36
|
| Operating Expenses |
$41,052
|
$7.47
|
| Total Expenses |
$64,999
|
$11.83
|
| Net Operating Income |
$89,852
|
$16.35
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $156,259 |
| Annual Per SF | $28.44 |
| Other Income | |
|---|---|
| Annual | $3,280 |
| Annual Per SF | $0.60 |
| Vacancy Loss | |
|---|---|
| Annual | $4,688 |
| Annual Per SF | $0.85 |
| Effective Gross Income | |
|---|---|
| Annual | $154,851 |
| Annual Per SF | $28.18 |
| Taxes | |
|---|---|
| Annual | $23,947 |
| Annual Per SF | $4.36 |
| Operating Expenses | |
|---|---|
| Annual | $41,052 |
| Annual Per SF | $7.47 |
| Total Expenses | |
|---|---|
| Annual | $64,999 |
| Annual Per SF | $11.83 |
| Net Operating Income | |
|---|---|
| Annual | $89,852 |
| Annual Per SF | $16.35 |
PROPERTY FACTS
| Price | $1,350,000 | Apartment Style | Low-Rise |
| Price Per Unit | $192,857 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.71% | Building Size | 5,495 SF |
| Gross Rent Multiplier | 8.52 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 1.27/1,000 SF |
| Zoning | RM-2 - RM-2 (Mixed Housing Type Residential - 2 Zone) | ||
| Price | $1,350,000 |
| Price Per Unit | $192,857 |
| Sale Type | Investment |
| Cap Rate | 6.71% |
| Gross Rent Multiplier | 8.52 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 5,495 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 1.27/1,000 SF |
| Zoning | RM-2 - RM-2 (Mixed Housing Type Residential - 2 Zone) |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Stainless Steel Appliances
- Quartz Countertops
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Free
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 7 | - | 750 |
1 1
Walk Score®
Very Walkable (75)
PROPERTY TAXES
| Parcel Number | 022-0301-015-00 | Total Assessment | $1,726,147 |
| Land Assessment | $482,846 | Annual Taxes | $23,947 ($4.36/SF) |
| Improvements Assessment | $1,243,301 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
022-0301-015-00
Land Assessment
$482,846
Improvements Assessment
$1,243,301
Total Assessment
$1,726,147
Annual Taxes
$23,947 ($4.36/SF)
Tax Year
2025
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7 Unit in Clinton / Bella Vista Neighborhood | 2244 12th Ave
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