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Oakland & El Sobrante Portfolio 4230 San Pablo Dam Rd 43 Unit Apartment Building $8,935,000 ($207,791/Unit) 6.12% Cap Rate El Sobrante, CA 94803
Investment Highlights
- On-site laundry facilities at each building
- Strategically located commuter-friendly locations
- Over 20 years of family ownership
- Ample on-site parking with additional leasable spaces at each property
- Massive discount to replacement cost
Executive Summary
The Oakland & El Sobrante Multifamily Portfolio: 139 units across five assets in three of the East Bay's most supply-constrained submarkets, offered for the first time in over 20 years of family ownership. The Offering is available as a whole, in sub-portfolios, or asset by asset.
In-place rents across the portfolio sit 9.23% below market. Day-one income prices at a 5.90% cap on a basis of $211,151 per unit. Recapturing market rents lifts NOI 20.5%, to 7.11%, and the path differs by jurisdiction: the four Oakland assets recover loss-to-lease through unit turnover, while 4230 San Pablo Dam Rd, the portfolio's largest asset, in unincorporated Contra Costa County with no local rent ordinance, can capture a statutory 8.8% increase beginning August 1, 2026.
Three assets (14 Whitmore Pl, 5527 & 5601 Shattuck Ave, 484 37th St) anchor the Offering in North Oakland, minutes from the Piedmont Avenue corridor, Temescal, and MacArthur BART. 1932 6th Ave adds East Lake Oakland income at the portfolio's lowest basis, $170,750 per unit. 4230 San Pablo Dam Rd provides scale in El Sobrante, a market with fewer than 25 apartment communities of 20 or more units.
In-place rents across the portfolio sit 9.23% below market. Day-one income prices at a 5.90% cap on a basis of $211,151 per unit. Recapturing market rents lifts NOI 20.5%, to 7.11%, and the path differs by jurisdiction: the four Oakland assets recover loss-to-lease through unit turnover, while 4230 San Pablo Dam Rd, the portfolio's largest asset, in unincorporated Contra Costa County with no local rent ordinance, can capture a statutory 8.8% increase beginning August 1, 2026.
Three assets (14 Whitmore Pl, 5527 & 5601 Shattuck Ave, 484 37th St) anchor the Offering in North Oakland, minutes from the Piedmont Avenue corridor, Temescal, and MacArthur BART. 1932 6th Ave adds East Lake Oakland income at the portfolio's lowest basis, $170,750 per unit. 4230 San Pablo Dam Rd provides scale in El Sobrante, a market with fewer than 25 apartment communities of 20 or more units.
Property Facts
| Price | $8,935,000 | Apartment Style | Garden |
| Price Per Unit | $207,791 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.32 AC |
| Cap Rate | 6.12% | Building Size | 29,098 SF |
| No. Units | 43 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Parking Ratio | 2.23/1,000 SF |
| Zoning | MH | ||
| Price | $8,935,000 |
| Price Per Unit | $207,791 |
| Sale Type | Investment |
| Cap Rate | 6.12% |
| No. Units | 43 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.32 AC |
| Building Size | 29,098 SF |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 2.23/1,000 SF |
| Zoning | MH |
Amenities
Site Amenities
- Laundry Facilities
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Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $4,072,314 | |
| Land Assessment | $1,846,611 | Total Assessment | $5,918,925 |
Property Taxes
Parcel Numbers
Land Assessment
$1,846,611
Improvements Assessment
$4,072,314
Total Assessment
$5,918,925
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