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603 22nd St 9 Unit Apartment Building $2,650,000 ($294,444/Unit) 6.28% Cap Rate Oakland, CA 94612
Investment Highlights
- Built to last: 40-year shingle roof, high-grade finishes including in unit laundry.
- Located in uptown Oakland, near plentiful dining and retail options in downtown and Jack London square
- Separately metered for electric, gas, and sub-metered for water
Executive Summary
Introducing a rare opportunity to acquire a truly turn-key, brand-new construction 9-unit multifamily asset in Oakland — impeccably built, meticulously maintained, and fully rented since day one. Completed in early 2021 and constructed with uncompromising quality, this property delivers the upside of institutional-grade new construction with the
upside flexibility to optimize rents. Zero vacancy, minimal capital needs, and operational simplicity make this a highly attractive acquisition for a buyer seeking both stability and growth.
upside flexibility to optimize rents. Zero vacancy, minimal capital needs, and operational simplicity make this a highly attractive acquisition for a buyer seeking both stability and growth.
Property Facts
| Price | $2,650,000 | Apartment Style | Low-Rise |
| Price Per Unit | $294,444 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 6.28% | Building Size | 6,150 SF |
| Gross Rent Multiplier | 11.31 | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2021 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $2,650,000 |
| Price Per Unit | $294,444 |
| Sale Type | Investment |
| Cap Rate | 6.28% |
| Gross Rent Multiplier | 11.31 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 6,150 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2021 |
| Opportunity Zone |
Yes |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Sprinkler System
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Fenced Lot
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | - | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
90/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 008-0647-026-00 | Improvements Assessment | $1,706,810 |
| Land Assessment | $226,309 | Total Assessment | $1,933,119 |
Property Taxes
Parcel Number
008-0647-026-00
Land Assessment
$226,309
Improvements Assessment
$1,706,810
Total Assessment
$1,933,119
Contacts
-
Grant Chappell -
Jonathan Burmenko -
Robert Chappell -
Sam Hayes -
NAI Northern California
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603 22nd St
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