Language and Region
Currency

Email*

Please enter a valid email address.

To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

Message

915 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

3031 Chestnut St - Two Vacant Houses on One Lot in West Oakland 2 Unit Apartment Building Offered at $995,000 at a 5.83% Cap Rate Oakland, CA 94608

.mosaic-column{display:inline-block!important;height:100%!important;width:auto!important}.mosaic-tile i{display:none!important}.mosaic-tile img{height:100%!important;width:auto!important}

INVESTMENT HIGHLIGHTS

100% Vacant at Close: Both residences are delivered vacant, allowing immediate lease-up at market rents or owner occupancy
Fully Updated Rear Residence: Rear home features new electrical, flooring, kitchen, and bathroom, providing a turnkey living environment from day one
Efficient Lot and Building Layout: Well-utilized 5,280 SF parcel with 2,644 SF of building area and clear separation between structures

Two Detached Homes on One Lot: A rare residential configuration offering privacy, functional separation, and broad appeal
Private Driveway and Garage: Off-street parking and garage access for the rear residence enhance livability and tenant demand in this submarket
Desirable West Oakland Location: Centrally located with convenient access to Emeryville, Downtown Oakland, and major transportation corridors

EXECUTIVE SUMMARY

The Mitchell Warren Team is pleased to present 3029–3031 Chestnut Street. A two-house residential property delivered 100% vacant, located in West Oakland, California. Situated on a 5,280 square foot lot, the property consists of two detached single-family homes totaling 2,644 square feet, offering a rare and functional configuration well-suited for owner-users or investors. Constructed in 1924, the property features two independent residences with separate entrances and clear separation. The front house (3029) is a 3-bedroom / 1-bath single-story residence of approximately 1,050 square feet, while the rear house (3031) is a 5-bedroom / 2-bath residence totaling approximately 1,594 square feet. The rear home has been fully updated with new electrical, flooring, kitchen, and bathroom, and includes a private driveway and garage. The combination of full vacancy, detached residences, and efficient site layout makes this a rarely available offering in West Oakland.
3029–3031 Chestnut Street is situated in West Oakland, a centrally located neighborhood that continues to benefit from its proximity to Emeryville, Downtown Oakland, and the broader East Bay. The property is situated near major transportation corridors, including Interstates 580, 880, and 980, providing efficient access throughout Oakland, Berkeley, Emeryville, and San Francisco. The surrounding area offers convenient access to regional employment centers, neighborhood retail, dining, and everyday services. West Oakland’s central location, combined with improving infrastructure and ongoing investment in nearby districts, continues to support strong residential demand. The property also benefits from proximity to public transportation options, making it an attractive location for both tenants and owner-occupants seeking connectivity and accessibility.

PROPERTY FACTS

Price	$995,000	Apartment Style	Low-Rise
Price Per Unit	$497,500	Lot Size	0.12 AC
Sale Type	Investment	Building Size	2,644 SF
Cap Rate	5.83%	Average Occupancy	0%
Gross Rent Multiplier	11.93	No. Stories	2
No. Units	2	Year Built/Renovated	1924/2023
Property Type	Multifamily Multifamily Apartments	Parking Ratio	1.51/1,000 SF

Price	$995,000
Price Per Unit	$497,500
Sale Type	Investment
Cap Rate	5.83%
Gross Rent Multiplier	11.93
No. Units	2
Property Type	Multifamily Multifamily Apartments
Apartment Style	Low-Rise
Lot Size	0.12 AC
Building Size	2,644 SF
Average Occupancy	0%
No. Stories	2
Year Built/Renovated	1924/2023
Parking Ratio	1.51/1,000 SF