2300-2306 Fruitvale Ave
Oakland, CA 94601
2300 Fruitvale Ave · Multifamily Property For Sale · 8 Units

Eight-unit multifamily asset, two buildings on a 6,800 SF corner lot in Oakland, offered at $1.8M. Executable pro forma cap rate of 9.0% at full stabilization. Two of the eight units are finished to a standard this submarket does not typically produce: large-format slate tile, ductless mini-split climate control, in-unit LG washer/dryer, quartz and marble kitchens with Samsung appliances and wine refrigerator, and bathrooms built to a boutique-hotel spec; floor-to-ceiling wood-grain tile, frameless glass showers, floating black vanities, black fixtures throughout. Mature Italian cypress and custom iron fencing frame the corner exterior; keyfob-secured gates front and rear, enclosed parking, and a built-in package drop complete a presence uncommon for the asset class.
The remaining six units carry a documented path increased rents: $75,000 refurbishment investment per unit, $450,000 total, converting current monthly rent of $12,999.88 to a market monthly rent of $21,510 at full stabilization. Each completed proof unit has produced a 19–23% coupon return on invested capital — the work is not projected, it is documented and replicated. (See OM for more detail)
2300 Fruitvale is Building 01 of the Excedente Portfolio, six Oakland multifamily assets comprised of 80 units built and operated by Owen and Nancy Jerez over 14 years, with zero deferred maintenance across the portfolio and financials validated through multiple bank refinancing cycles. The methodology executed here is the same methodology executed across all six buildings.
This is not a forward-looking market story — it is already on the ground. Jeff Bezos' Project Prometheus, an AI manufacturing venture valued at $41 billion, signed a 100,000 SF lease at the former American Steel complex on Mandela Parkway in West Oakland. Tesla signed roughly 40,000 SF at the same campus days later. Behring Capital separately proposed converting a downtown Oakland office tower into an AI data center anchoring a 1.3M SF innovation campus. All three moves landed within the same two-week span in August 2026 — signed leases and active filings, not proposals under review.
Behind them, the residential gap is already closing. San Francisco's median two-bedroom rent crossed $6,000 a month for the first time in mid-2026, up roughly a quarter year-over-year. Oakland's median sits at $2,640 — a $3,380 monthly gap, while Oakland apartment vacancy has compressed from 9.7% in late 2023 to 4.1% today, its tightest reading since before the pandemic. The workforce priced out of San Francisco is relocating across the Bay ahead of the AI employment base Oakland is still building. This asset is the exact product the young AI workforce is looking for, priced and renovated at today's Oakland numbers — before either move finishes.
This is the lowest-basis entry point into a bank-validated, portfolio-proven operating model, with the highest concentration of executable upside of any asset in the group.