2261 48th Avenue, Oakland, California 94601, Oakland, 94601 - 0 bed, 0 bath
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Oakland, California 94601
This Multifamily Residential Income Asset is listed at $1,500,000, positioned near its $1,386,140 Fair Market Value. The property features a Quadruplex layout with 100% occupancy, providing immediate cash flow and a Condition Rating of 4. With current rents approximately 9% below market, there is significant Value-Add potential through rent growth. While local schools like Horace Mann Elementary and Fremont High have lower ratings, the 1:1 garage parking ratio and proximity to I-580 drive strong rental demand and ROI. This is a solid acquisition for Buy-and-Hold Investors or Multifamily Buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2261 48th Avenue Subject | $1,195,000* List Price | 0 | 0 | 4,278 | $256 | - |
A 5492 Ruth Ave Sold | $885,000 | 0 | 0 | 3,872 | $229 | 0.6 mi |
B 2063 Rosedale Ave Sold | $965,000 | 0 | 0 | 3,086 | $313 | 0.4 mi |
C 4624 Fairfax Avenue Active | $1,499,000 List Price | 0 | 0 | 4,730 | $317 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1960 (64 years old) and described as well-maintained, but lacks evidence of recent major renovations to kitchens, baths, or systems. While the property is fully occupied and functional, the age and visible exterior wear (cracked driveway, aged fencing) suggest it is dated and likely requires minor repairs or updates to meet modern standards.
The property is 100% occupied, providing a stable and reliable in-place income stream for investors from the moment of acquisition.
With current rents approximately 9% below market value, there is a clear opportunity to increase Net Operating Income through strategic rent adjustments.
The property features spacious layouts, including a rare 3BD/2BA unit, and a 1:1 garage parking ratio, which are highly sought-after amenities in the East Oakland rental market.
The surrounding public schools have low ratings (predominantly 2/10), which may limit the property's appeal to families and impact long-term appreciation potential.
While gas and electricity are individually metered, the water is master-metered, placing the burden of fluctuating utility costs on the owner rather than the tenants.
Marcus $ Millichap is pleased to present 2261 48th Ave, a well-maintained 4 unit multifamily property located in East Oaklands Lower Maxwell Park/Melrose area. Built in 1960, the property features approximately 4,278 SF on a 0.17acre lot and is 100% occupied, providing stable in-place income. The unit mix consists of three 2BD/1BA units and one 3BD/2BA unit, all with spacious layouts. The property offers 4 garage parking spaces (1:1 ratio), individually metered gas and electric, and master metered water. In-place rents are approximately 9% below market, offering upside through rent growth over time. Conveniently located near High Street, Foothill Blvd, I580, I880, public transit, neighborhood retail, and parks. A solid multifamily investment in a strong East Oakland rental corridor.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades 6-8 • 0.8 mi
Grades 6-8 • 1.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 4,278 | 2,642 | 92% |
| Lot Size | 7,300 | 5,125 | 75% |
| Price | $1.20M | $712.5K | 92% |
| Price per sq ft | $279 | $267 | 50% |
| Built year | 1960 | 1923 | 67% |
| HOA | $0 | $0 | 50% |
| Days on market | 37 | 150 | 8% |
May 22, 2026
$1,195,000
$1,500,000
-20% Price Drop
Initial Listing
Apr 30, 2026
$1,500,000
Initial Listing
Jul 17, 2017
$1,325,000
Public Record
Feb 7, 2017
$800,000
Public Record
Dec 22, 2008
$545,000
Public Record
Jul 27, 2005
$700,000
Public Record