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2550 35th Ave
Oakland, CA 94601
Multifamily Property For Sale
·
18 Units
Executive Summary
Bay's Elite Investments is pleased to present to the seasoned investors a unique investment property in a solid Oakland location in the Bartlett/Allendale
neighborhood. This 18 unit apartment complex features Six 2 bed/1bath and Twelve 1bed/1bath units with and four 1bd/1bth units with market rate tenants, with an excellent long-term upside.
The property was originally built in 1954, offers approximately 11,960 square feet of rental space, and sits on a 1/2 acre lot with 18 parking space, majority of them being carports (1 to 1 ratio). Some units have been remodeled over time and offer newer kitchens and bathrooms, vinyl floors, and so on.
The building is located about 3 minutes from 580 freeway with a quick and easy commute to Oakland Lake Merritt or a 30 minute drive to downtown San Francisco. Fruitvale BART is literary a 5 minute drive or bike ride south on 35th Ave or 10 minutes on bus.
The current owners have made substantial capital expenditures in the property in the past several years. The roof of both buildings have been replaced and recoated in 2024 and 2025 at a cost of approximately $40,000. The property has been earthquake retrofitted at a cost of about $110,000 in 2024. The building electrical panels and subpanels were fully upgraded in June of 2025 at a cost of $40,000. Finally, all the units have been extensively rehabbed upon turnover.
The property is wells maintained and easy to manage and is separately metered for PG&E providing for low annual operating expenses. The property is priced well below the replacement cost. It offers a new investor tremendous of 30-40% upside by raising rents through buy-out or other means.
neighborhood. This 18 unit apartment complex features Six 2 bed/1bath and Twelve 1bed/1bath units with and four 1bd/1bth units with market rate tenants, with an excellent long-term upside.
The property was originally built in 1954, offers approximately 11,960 square feet of rental space, and sits on a 1/2 acre lot with 18 parking space, majority of them being carports (1 to 1 ratio). Some units have been remodeled over time and offer newer kitchens and bathrooms, vinyl floors, and so on.
The building is located about 3 minutes from 580 freeway with a quick and easy commute to Oakland Lake Merritt or a 30 minute drive to downtown San Francisco. Fruitvale BART is literary a 5 minute drive or bike ride south on 35th Ave or 10 minutes on bus.
The current owners have made substantial capital expenditures in the property in the past several years. The roof of both buildings have been replaced and recoated in 2024 and 2025 at a cost of approximately $40,000. The property has been earthquake retrofitted at a cost of about $110,000 in 2024. The building electrical panels and subpanels were fully upgraded in June of 2025 at a cost of $40,000. Finally, all the units have been extensively rehabbed upon turnover.
The property is wells maintained and easy to manage and is separately metered for PG&E providing for low annual operating expenses. The property is priced well below the replacement cost. It offers a new investor tremendous of 30-40% upside by raising rents through buy-out or other means.
Property Facts
| Price Per Unit | $147,222 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.29% | Lot Size | 0.50 AC |
| Sale Condition | 1031 Exchange | Building Size | 24,576 SF |
| No. Units | 18 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1956 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Zoning | R-70, Oakland | ||
| Price Per Unit | $147,222 |
| Sale Type | Investment |
| Cap Rate | 5.29% |
| Sale Condition | 1031 Exchange |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.50 AC |
| Building Size | 24,576 SF |
| No. Stories | 2 |
| Year Built | 1956 |
| Parking Ratio | 1/1,000 SF |
| Zoning | R-70, Oakland |
Amenities
Unit Amenities
- Heating
- Kitchen
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 18 | - | - |
Property Taxes
| Parcel Number | 032-2101-035-00 | Improvements Assessment | $1,679,608 |
| Land Assessment | $639,769 | Total Assessment | $2,319,377 |
Property Taxes
Parcel Number
032-2101-035-00
Land Assessment
$639,769
Improvements Assessment
$1,679,608
Total Assessment
$2,319,377
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