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2400-2506 Magnolia St 39 Unit Apartment Building $11,650,000 ($298,718/Unit) 5.78% Cap Rate Oakland, CA 94607
Investment Highlights
- Converted to Live/Work Quarters in 2014
- Laundry Facilities On-Site
- Oakland Rent Control Exemption
- Gated, Assigned Parking + 16 Additional Spaces
- Polished Concrete Floors, Carpeting in Loft Area
- Strong Rental Upside and Potential
Executive Summary
Magnolia Court is a unique gated community in the center of the evolving West Oakland community, comprised of six (6) buildings: 2415–2425 Adeline Street, 2400–2480 Magnolia Street, 2500B Magnolia, and 1168–1198 24th Street. This unique 39-unit live/work property offers secure off-street parking and exceptional access to downtown Oakland, major highways, and public transit options—including BART and key bus lines. The neighborhood is also very bike-friendly, making it easy for residents to get to Downtown Oakland, Emeryville, and Oakland’s Waterfront.
Property Facts
| Price | $11,650,000 | Building Class | C |
| Price Per Unit | $298,718 | Lot Size | 1.47 AC |
| Sale Type | Investment | Building Size | 63,881 SF |
| Cap Rate | 5.78% | No. Stories | 2 |
| No. Units | 39 | Year Built/Renovated | 1990/2016 |
| Property Type | Multifamily | Parking Ratio | 0.86/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Garden | ||
| Zoning | HBX-4, S-13 - - HBX-4 – Housing & Business Mix - S-13 – Housing Overlay | ||
| Price | $11,650,000 |
| Price Per Unit | $298,718 |
| Sale Type | Investment |
| Cap Rate | 5.78% |
| No. Units | 39 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.47 AC |
| Building Size | 63,881 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1990/2016 |
| Parking Ratio | 0.86/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | HBX-4, S-13 - - HBX-4 – Housing & Business Mix - S-13 – Housing Overlay |
Amenities
Unit Amenities
- Heating
- Oven
- Range
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Public Transportation
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Good public transit
70/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 005-0437-014-04 | Improvements Assessment | $5,610,443 |
| Land Assessment | $764,133 | Total Assessment | $6,374,576 |
Property Taxes
Parcel Number
005-0437-014-04
Land Assessment
$764,133
Improvements Assessment
$5,610,443
Total Assessment
$6,374,576
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2400-2506 Magnolia St
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