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2832 Summit St
Oakland, CA 94609
Multifamily Property For Sale
·
3 Units
Investment Highlights
- Stabilized Oakland triplex in the heart of Pill Hill —walking distance to Kaiser Permanente, MacArthur BART, and Lake Merritt.
- Over $63,000 in capital improvements since 2021, including sewer lateral compliance, dual-pane windows, and roof under five years old.
- Three well-configured units across an 11-bedroom mix: a fully renovated, vacant 4BR/2BA flagship, a remodeled 4BR/2.5BA, and a 3BR/1BA.
Executive Summary
Stabilized Oakland triplex in the heart of Pill Hill —walking distance to Kaiser Permanente, MacArthur BART, and Lake Merritt. The 2,968 SF building offers 11 bedrooms across three well-configured units: a vacant, fully renovated 4BR/2BA flagship, a remodeled 4BR/2.5BA, and a 3BR/1BA. Priced at $1,470,000 ($490K/door) with stabilized NOI of $92,858 and a 6.32% cap rate —rents already at market, zero gap to close. Over $63,000 invested since 2021, including sewer lateral compliance, dual-pane windows, two unit remodels, exterior paint, and a roof under five years old. Six parking spaces, in-unit laundry, and four electric meters. CC-2 zoning opens the door to ADU or density exploration, subject to verification. Live in the vacant flagship and collect $7,300+/month from the other two, or add a turnkey cash-flowing triplex to your portfolio. Opportunities like this don't sit long.
TRANSPARENT PRICE. Unit 1 is vacant and can be shown via Calendly.
Contact Joey at joey.wang@loremultifamily.com with questions.
For the offering memorandum and inspection reports, go to https://www.loremultifamily.forsale/
Offers are due on Tuesday, 6/2 at noon.
Disclaimer: The photos in this listing have been digitally enhanced.
TRANSPARENT PRICE. Unit 1 is vacant and can be shown via Calendly.
Contact Joey at joey.wang@loremultifamily.com with questions.
For the offering memorandum and inspection reports, go to https://www.loremultifamily.forsale/
Offers are due on Tuesday, 6/2 at noon.
Disclaimer: The photos in this listing have been digitally enhanced.
Property Facts
| Price Per Unit | $490,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Cap Rate | 6.30% | Building Size | 3,656 SF |
| Gross Rent Multiplier | 10.4 | Average Occupancy | 67% |
| No. Units | 3 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1945 |
| Property Subtype | Apartment | Parking Ratio | 1.64/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | CC-2 | ||
| Price Per Unit | $490,000 |
| Sale Type | Investment |
| Cap Rate | 6.30% |
| Gross Rent Multiplier | 10.4 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 3,656 SF |
| Average Occupancy | 67% |
| No. Stories | 3 |
| Year Built | 1945 |
| Parking Ratio | 1.64/1,000 SF |
| Zoning | CC-2 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+2 | 1 | $4,350 | 1,195 |
| 4+2.5 | 1 | $4,350 | 1,168 |
| 3+1 | 1 | $2,964 | 605 |
Property Taxes
| Parcel Number | 009-0687-017-00 | Improvements Assessment | $1,021,405 |
| Land Assessment | $437,745 | Total Assessment | $1,459,150 |
Property Taxes
Parcel Number
009-0687-017-00
Land Assessment
$437,745
Improvements Assessment
$1,021,405
Total Assessment
$1,459,150
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