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UNDER CONTRACT 3639 Patterson Ave 4 Unit Apartment Building $995,000 ($248,750/Unit) 6.11% Cap Rate Oakland, CA 94619
INVESTMENT HIGHLIGHTS
- Includes three 2-bedroom/1-bath units and one 3-bedroom/2-bath unit, each averaging over 1,000 square feet with private outdoor space
- Provides strong in-place cash flow with long-term value-add potential through strategic rent adjustments and unit renovations.
- Walkable access to popular restaurants, cafés, and markets, plus proximity to major employers like Kaiser Permanente and Highland Hospital
- Features four off-street parking spaces, an on-site laundry room, and a shared rear yard for tenant enjoyment.
- Situated above Highway 580 at the border of Redwood Heights and the Laurel District, offering both convenience and neighborhood charm.
- Easy access to AC Transit, BART stations, and major freeways for seamless commuting throughout the Bay Area.
EXECUTIVE SUMMARY
Well-maintained fourplex perfect for an owner-occupant or investor, the property is located in Oakland’s desirable Redwood Heights neighborhood. Built in 1966, the property features three spacious 2-bedroom/1-bath units and one large 3-bedroom/2-bath unit, averaging over 1,000 square feet, each with private outdoor space. The ground floor includes two large 2-bed/1-bath units and the on-site laundry room, while the top floor offers a spacious 3-bed/2-bath unit and an additional 2-bed/1-bath unit. With four off-street parking spaces, a shared rear yard, excellent in-place cash flow, and strong long-term upside, this property represents an exceptional opportunity in one of Oakland’s most desirable neighborhoods.
Located above Highway 580 on the border of Redwood Heights and the Laurel District, this property offers a prime combination of convenience and neighborhood charm. Residents enjoy walkable access to popular restaurants, coffee shops, and markets—from the beloved Sequoia Diner and Degrees Plato Taproom in the Laurel District to the cozy cafés and eateries along Redwood Road. For commuters, the property is well-connected with AC Transit routes, nearby BART stations, and quick freeway access for seamless travel throughout the Bay Area. The location is also just minutes from major employers like Kaiser Permanente, Highland Hospital, and the Port of Oakland, driving strong and consistent rental demand. This neighborhood remains one of Oakland’s most desirable areas for tenants, making it an exceptional investment opportunity.
Located above Highway 580 on the border of Redwood Heights and the Laurel District, this property offers a prime combination of convenience and neighborhood charm. Residents enjoy walkable access to popular restaurants, coffee shops, and markets—from the beloved Sequoia Diner and Degrees Plato Taproom in the Laurel District to the cozy cafés and eateries along Redwood Road. For commuters, the property is well-connected with AC Transit routes, nearby BART stations, and quick freeway access for seamless travel throughout the Bay Area. The location is also just minutes from major employers like Kaiser Permanente, Highland Hospital, and the Port of Oakland, driving strong and consistent rental demand. This neighborhood remains one of Oakland’s most desirable areas for tenants, making it an exceptional investment opportunity.
PROPERTY FACTS
| Price | $995,000 | Building Class | C |
| Price Per Unit | $248,750 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 4,010 SF |
| Cap Rate | 6.11% | No. Stories | 2 |
| No. Units | 4 | Year Built | 1966 |
| Property Type | Multifamily | Parking Ratio | 1/1,000 SF |
| Property Subtype | Apartment |
| Price | $995,000 |
| Price Per Unit | $248,750 |
| Sale Type | Investment |
| Cap Rate | 6.11% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 4,010 SF |
| No. Stories | 2 |
| Year Built | 1966 |
| Parking Ratio | 1/1,000 SF |
AMENITIES
UNIT AMENITIES
- Balcony
- Kitchen
- Granite Countertops
- Patio
- Large Bedrooms
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 1 | $2,740 | 1,220 |
| 2+1 | 3 | $2,019 | 930 |
1 1
Walk Score®
Walker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 030-1912-008-01 | Improvements Assessment | $559,442 |
| Land Assessment | $239,761 | Total Assessment | $799,203 |
PROPERTY TAXES
Parcel Number
030-1912-008-01
Land Assessment
$239,761
Improvements Assessment
$559,442
Total Assessment
$799,203
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UNDER CONTRACT | 3639 Patterson Ave
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