2246 23rd Ave, Oakland, California 94606

Fully occupied seven-unit multifamily asset in Oakland’s Highland Terrace neighborhood. $1, 300, 000 ($185, 714/unit, $275/SF). 5.46% current cap rate vs. 7.41% at market rents, with 20.4% rental upside and 35.6% NOI growth potential with no capital spend. Recent capital improvements include upgraded plumbing, electrical, windows, and roof. Located under 1 mile from Highland Hospital and roughly 1.6 miles from Fruitvale BART, with direct access to I-880. In-place NOI: $70, 803. Market NOI: $96, 095. The 2 live/work style units are not permitted.