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2261 48 Ave 4 Unit Apartment Building $1,500,000 ($375,000/Unit) 5.46% Cap Rate Oakland, CA 94601
Executive Summary
Marcus $ Millichap is pleased to present 2261 48th Ave, a well-maintained 4 unit multifamily property located in East Oaklands Lower Maxwell Park/Melrose area. Built in 1960, the property features approximately 4,278 SF on a 0.17acre lot and is 100% occupied, providing stable in-place income. The unit mix consists of three 2BD/1BA units and one 3BD/2BA unit, all with spacious layouts. The property offers 4 garage parking spaces (1:1 ratio), individually metered gas and electric, and master metered water. In-place rents are approximately 9% below market, offering upside through rent growth over time. Conveniently located near High Street, Foothill Blvd, I580, I880, public transit, neighborhood retail, and parks. A solid multifamily investment in a strong East Oakland rental corridor.
Property Facts
| Price | $1,500,000 | Property Subtype | Apartment |
| Price Per Unit | $375,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.46% | Building Size | 4,278 SF |
| Gross Rent Multiplier | 12.49 | No. Stories | 2 |
| No. Units | 4 | Year Built | 1960 |
| Property Type | Multifamily | Parking Ratio | 0.94/1,000 SF |
| Price | $1,500,000 |
| Price Per Unit | $375,000 |
| Sale Type | Investment |
| Cap Rate | 5.46% |
| Gross Rent Multiplier | 12.49 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 4,278 SF |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 0.94/1,000 SF |
Amenities
Unit Amenities
- Balcony
- Dishwasher
- Heating
- Granite Countertops
- Hardwood Floors
- Garden
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | - | 1,026 |
| 3+2 | 1 | - | 1,200 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 036-2416-008-00 | Improvements Assessment | $1,055,318 |
| Land Assessment | $452,279 | Total Assessment | $1,507,597 |
Property Taxes
Parcel Number
036-2416-008-00
Land Assessment
$452,279
Improvements Assessment
$1,055,318
Total Assessment
$1,507,597
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2261 48 Ave
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