459 Stow Ave 4 Unit Apartment Building $1,485,000 ($371,250/Unit) 4.83% Cap Rate Oakland, CA 94606

- Rare 1990 Construction: A newer-built multifamily asset—a scarce opportunity in Oakland where most apartment buildings were constructed decades earlier.
- Exempt from Oakland Rent Control: Built in 1990, the property is generally exempt from Oakland's Rent Adjustment Program. (buyer to verify)
- Excellent Unit Mix: Features (2) 2BD/1BA and (2) 1BD/1BA units, appealing to a wide range of renters.
- Premier Lake Merritt Location: Just steps from Lake Merritt, Lakeshore Avenue, Grand Avenue, Trader Joe's, the Grand Lake Farmers Market, restaurants, cafés, and shopping.
- Outstanding Walkability: Highly walkable neighborhood with convenient access to daily amenities, parks, and public transportation.
- Lake Merritt Views: 2 units offer beautiful views of Lake Merritt from bedrooms and/or private balconies.
- Tenant Amenities: Four covered parking spaces and on-site coin-operated laundry provide added convenience and supplemental income.
- Over $110,000 in Capital Improvements: Ownership has invested extensively in the property, minimizing deferred maintenance for the next owner.
- Thoughtfully Updated: Improvements include a fully renovated Unit 2 with a new kitchen, bathroom, flooring, and appliances, a remodeled Unit 4 bathroom, new roofs and skylights, new water heaters, dual-pane windows, new fencing, renovated balconies, garage improvements, and multiple water-efficient fixture upgrades throughout the property.
Introducing 459 Stow Avenue, a rare opportunity to acquire a well-maintained four-unit apartment building in one of Oakland's most desirable neighborhoods. Built in 1990—a rarity in Oakland's multifamily market—the property features an attractive unit mix of (2) two-bedroom/one-bath units and (2) one-bedroom/one-bath units, making it ideal for a broad tenant base. Several units enjoy Lake Merritt views from their bedrooms and private balconies, while residents benefit from four covered parking spaces and on-site coin-operated laundry.
The property has been meticulously maintained, with over $110,000 invested in capital improvements, significantly reducing deferred maintenance for future ownership. Recent upgrades include a fully renovated Unit 2 featuring a new kitchen, bathroom, flooring, cabinetry, countertops, and appliances, along with a remodeled Unit 4 bathroom. Additional improvements include new roofs and skylights, new water heaters, dual-pane windows, new fencing, renovated balconies, garage enhancements, and water-efficient fixture upgrades throughout the property, offering investors a truly turnkey asset.
Ideally located just blocks from Lake Merritt, Lakeshore Avenue, and Grand Avenue, tenants enjoy easy access to Trader Joe's, the Grand Lake Farmers Market, restaurants, cafés, grocery stores, and everyday conveniences. With an outstanding walkable location, strong tenant appeal, newer construction than most Oakland apartment buildings, and pride of ownership throughout, 459 Stow Avenue presents a compelling opportunity to acquire a low-maintenance investment in one of the East Bay's most sought-after rental markets.