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3404 School St 4 Unit Apartment Building $949,000 ($237,250/Unit) 6.11% Cap Rate Oakland, CA 94602
Investment Highlights
- Remodeled Units
- Stable, long term tenants
- Vacant, large 3bed/2ba owner's unit
Executive Summary
3404 School St presents an excellent investment opportunity in Oakland featuring a well-maintained 4-unit property with strong income potential and flexible living options. The property offers an attractive unit mix including (1) spacious 3BD/2BA owner's unit delivered vacant, (2) 2BD/1BA units, and (1) 1BD/1BA unit, ideal for an owner-occupant to live in the 3BD/2BA unit while collecting rental income from the other units, or for investors seeking full cash flow by renting out all units. Several units have been updated with modern flooring, refreshed kitchens, and upgraded bathrooms, providing a clean, move-in ready environment. Functional layouts, generous living spaces, and ample natural light enhance tenant appeal. Property improvements include updated electrical panels and a newer roof. The property features 4 garages with additional driveway parking, a shared low-maintenance backyard, and an on-site laundry room with coin-operated washer and dryer for additional income potential. Utilities include separate electric and gas meters for each unit, plus common area gas and electric meters, with one water meter; owner currently pays for water and garbage. Conveniently located with easy access to I-580, public transportation, shops, and schools, this property offers strong rental demand and long-term upside.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$88,920
|
$25.06
|
| Other Income |
$960
|
$0.27
|
| Vacancy Loss |
$2,696
|
$0.76
|
| Effective Gross Income |
$87,184
|
$24.57
|
| Taxes |
$12,127
|
$3.42
|
| Operating Expenses |
$17,085
|
$4.82
|
| Total Expenses |
$29,212
|
$8.23
|
| Net Operating Income |
$57,972
|
$16.34
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $88,920 |
| Annual Per SF | $25.06 |
| Other Income | |
|---|---|
| Annual | $960 |
| Annual Per SF | $0.27 |
| Vacancy Loss | |
|---|---|
| Annual | $2,696 |
| Annual Per SF | $0.76 |
| Effective Gross Income | |
|---|---|
| Annual | $87,184 |
| Annual Per SF | $24.57 |
| Taxes | |
|---|---|
| Annual | $12,127 |
| Annual Per SF | $3.42 |
| Operating Expenses | |
|---|---|
| Annual | $17,085 |
| Annual Per SF | $4.82 |
| Total Expenses | |
|---|---|
| Annual | $29,212 |
| Annual Per SF | $8.23 |
| Net Operating Income | |
|---|---|
| Annual | $57,972 |
| Annual Per SF | $16.34 |
Property Facts Under Contract
| Price | $949,000 | Apartment Style | Low-Rise |
| Price Per Unit | $237,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 6.11% | Building Size | 3,548 SF |
| Gross Rent Multiplier | 10.67 | Average Occupancy | 75% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 2.25/1,000 SF |
| Zoning | R-50, Oakland - Residential Development | ||
| Price | $949,000 |
| Price Per Unit | $237,250 |
| Sale Type | Investment |
| Cap Rate | 6.11% |
| Gross Rent Multiplier | 10.67 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 3,548 SF |
| Average Occupancy | 75% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 2.25/1,000 SF |
| Zoning | R-50, Oakland - Residential Development |
Amenities
Unit Amenities
- Balcony
Site Amenities
- Laundry Facilities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,170 | - |
| 2+1 | 2 | $1,270 | - |
| 3+2 | 1 | $3,700 | - |
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Moderately walkable
60/100
Very drivable
80/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 028-0951-040-00 | Total Assessment | $332,231 |
| Land Assessment | $99,669 | Annual Taxes | $12,127 ($3.42/SF) |
| Improvements Assessment | $232,562 | Tax Year | 2025 |
Property Taxes
Parcel Number
028-0951-040-00
Land Assessment
$99,669
Improvements Assessment
$232,562
Total Assessment
$332,231
Annual Taxes
$12,127 ($3.42/SF)
Tax Year
2025
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3404 School St
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