
Oakland, California 94603
This 4-plex represents a High-Potential Investment Opportunity, listed at $799,000—positioned slightly above the $784,113 Fair Market Value. Despite the premium, the property delivers a strong 7.24% cap rate and an 8.98 GRM, ensuring immediate cash flow. With a Condition Rating of 4, the structure is well-maintained but offers significant upside through modernization. The versatile unit mix and two vacant units provide flexibility for Buy-and-Hold Investors or Owner-Occupants seeking to house-hack in a high-demand rental market near the Oakland Airport.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 128 Catron Dr Subject 0 bd · 0 ba · 3,038 sqft · $258 | $799,000* List Price | 0 | 0 | 3,038 | $258 | - |
A 10582 Topanga Dr Active 0 bd · 0 ba · 3,584 sqft · $251 · 0.2 mi | $900,000 List Price | 0 | 0 | 3,584 | $251 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
While the property features recent cosmetic updates like new laminate flooring and fresh paint, the core elements remain dated. The kitchen contains older cabinetry, laminate countertops, and basic electric coil appliances. Additionally, the use of wall heaters suggests older HVAC systems, and the 1965 structure shows typical age-related wear and exterior patching, fitting the criteria for a well-maintained but dated property needing eventual modernization.
With a 7.24% cap rate and a Gross Rent Multiplier of 8.98, this property offers exceptional cash flow and investment returns that outperform many other assets in the Oakland market.
Two units are delivered vacant, providing a rare opportunity for an owner-occupant to house-hack or for an investor to immediately secure market-rate rents without the complications of existing tenancies.
Recent capital improvements and a well-maintained exterior ensure lower immediate maintenance costs and improved tenant satisfaction, protecting the investor's bottom line.
The property is served by schools with low ratings, such as Castlemont High (1/10), which may limit the appeal for long-term family tenants and impact future resale value.
Located just minutes from the Oakland Airport, the property is subject to significant aircraft noise, which could be a deterrent for noise-sensitive tenants and affect long-term appreciation.
Welcome to this exceptional 4-plex located just minutes away from the bustling Oakland Airport! This well-maintained property is a remarkable investment opportunity, offering low expenses and significant recent capital improvements. Each unit provides comfortable living spaces with modern amenities, ensuring tenant satisfaction and long-term occupancy. The property features a versatile unit mix, catering to a variety of tenant needs with two units delivered vacant. Inside, each unit is designed for functionality and comfort, with spacious layouts that include bright living areas, fully equipped kitchens, and generous bedroom sizes. Financially, this property stands out with an estimated total rental income of $8,350 per month. It boasts a Gross Rent Multiplier (GRM) of 8.98 and a cap rate of 7.24%, making it an attractive option for both investors looking to invest in Oakland's robust housing market or owner-occupants looking to house-hack and reduce housing costs. With its low maintenance costs due to recent upgrades and market rents, this property promises a steady and profitable rental income.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-5 • 0.9 mi
Grades K-5 • 0.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.0 |
| Baths | 0.0 | 2.0 |
| Square foot | 3,038 | 2,403.227 |
| Lot Size | 5,879 | 4,461.364 |
| Price | $799.0K | $900.8K |
| Price per sq ft | $263 | $343 |
| Built year | 1965 | 1919 |
| HOA | $0 | $0 |
| Days on market | 11 | 67 |
Oct 13, 2026
$799,000
Initial Listing
Mar 22, 2024
$775,000
Public Record
Sep 9, 2016
$500,000
Public Record
Jul 29, 2015
$602,000
Public Record
May 18, 2010
$155,000
Public Record
Jan 3, 2007
$550,000
Public Record