3257 Delaware St 5 Unit Apartment Building $1,350,000 ($270,000/Unit) 6.15% Cap Rate Oakland, CA 94602

The Bos Group is proud to present 3257 Delaware Street, a rare and well-located 5-unit multifamily property in Oakland’s highly desirable Dimond District, positioned just above Interstate 580. Offered at $1.35M, the property delivers a compelling 6.15% CAP rate and 10.26 GRM, providing strong day-one cash flow with clear long-term upside.
This sizable asset features a highly attractive unit mix consisting of two oversized two-bedroom units with dedicated dining areas, two spacious one-bedroom one-bath units, and an exceptional three-bedroom two-bath unit currently rented at $3,200 per month. The larger unit sizes are well aligned with sustained tenant demand in the Dimond District, where renters consistently pay premiums for space, walkability, and neighborhood quality.
Operational efficiency is a major strength of this property. All units are separately metered for gas and electric, helping keep operating expenses low and allowing future ownership to retain additional NOI as rents increase. The building also benefits from pride-of ownership characteristics that are increasingly difficult to find in smaller multifamily assets in Oakland.
From a location standpoint, the property is ideally situated in one of Oakland’s most stable rental submarkets. The Dimond District is known for its residential charm, proximity to Dimond Park, local retail along MacArthur Boulevard, easy freeway access,
and a strong tenant base drawn to the area’s neighborhood feel combined with urban convenience. These fundamentals support both consistent occupancy and long-term rent growth.
3257 Delaware Street offers investors an opportunity to acquire a well-located, income producing asset with solid in-place returns and meaningful upside through continued rent growth and operational optimization. This is a compelling option for buyers seeking a balance of immediate cash flow, expense control, and long-term appreciation in one of Oakland’s best tenant locations.