348-352 Jayne Ave 5 Unit Apartment Building $699,000 ($139,800/Unit) 3.82% Cap Rate Oakland, CA 94610

348–352 Jayne Avenue presents a well-located multifamily investment opportunity in Oakland’s highly desirable Adams Point neighborhood, known for its strong rental demand and proximity to key lifestyle amenities. Situated just moments from Lake Merritt, the property benefits from immediate access to outdoor recreation, dining, and retail, including nearby Whole Foods, while also offering convenient connectivity to Interstate 580 and Downtown Oakland, located approximately 1.5 miles away.
The property consists of a two-story, five-unit apartment building totaling approximately 2,884 square feet on a spacious 0.15-acre lot. The unit mix includes four one-bedroom/one-bathroom units and one studio, providing a balanced configuration that appeals to a wide range of tenants, from young professionals to individuals seeking more affordable housing options in a prime Oakland location.
A key component of the investment profile is the presence of one vacant unit, offering immediate upside potential for a new owner to renovate and lease at market rents. This allows for day-one income growth while maintaining stability from the remaining occupied units.
The property also includes a detached garage structure located at the rear of the parcel, presenting an additional income opportunity through leasing for parking or storage. In addition, there is a basement laundry area equipped with one washer and one dryer, providing both tenant convenience and supplemental income potential.
With its prime Adams Point location, proximity to Lake Merritt and major transportation corridors, and a combination of in-place income with vacancy-driven upside, 348–352 Jayne Avenue represents an attractive opportunity for investors seeking stable cash flow and long-term appreciation in one of Oakland’s most sought-after residential neighborhoods.