745 5th St, Oakland, California 94607, Oakland, 94607 - 0 bed, 0 bath
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Oakland, California 94607
This historic mixed-use building represents a High-Potential Investment Opportunity, listed at a List Price of $565,000—positioned slightly above the $547,191 Fair Market Value. Despite the premium, the property generates a stable $48,000 annual gross income from two fully occupied units, ensuring immediate cash flow. With a Fair Condition Rating, the asset offers long-term value through strategic modernization of its 1906 infrastructure. Its prime location near the Jack London District provides excellent transit connectivity. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a historic, income-producing asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 745 5th St Subject | $565,000* List Price | 0 | 0 | 1,260 | $434 | - |
A 836 20th Street Sold | $700,000 | 0 | 0 | 1,237 | $566 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1906, this property is a well-maintained historic mixed-use building. While the exterior has been recently repainted and the commercial kitchen is functional and occupied, the property is over 100 years old and retains 'original character' features like wood built-ins and stained glass. The lack of a recent comprehensive renovation to the residential unit and systems, combined with its age, places it in the fair category as it likely requires modern updates.
With a gross annual income of $48,000 against a $565,000 list price, the property offers a high cap rate and immediate cash flow from two fully occupied units.
Situated in the heart of the Jack London District, the property boasts excellent connectivity via the ferry terminal, Amtrak, and immediate I-880 freeway access.
Built in 1906, this iconic 'Gingerbread House' features unique stained glass and wood built-ins, offering high brand recognition and aesthetic appeal for its commercial tenant.
The small 900-square-foot lot size and 1,260-square-foot building footprint offer very little room for physical expansion or additional development.
As a structure dating back to 1906, the property may require specialized maintenance or future capital expenditures to address aging systems and structural components.
A rare opportunity to acquire a piece of Oakland history in the heart of the Jack London District. This iconic mixed-use building is home to Angel Cakes Bakery, a beloved Bay Area institution and worker-owned cooperative that draws loyal customers from across the region for their famous and delicious cupcakes and cakes. Originally part of the storied Gingerbread House Creole restaurant complex, the building retains its original character: stained glass windows, hardwood floors, and wood built-ins; plus, recently repainted in its signature bright pink. The property features a ground-floor commercial space with a long-term bakery tenant and an upstairs two-bedroom, one-bathroom residential unit, both fully occupied. Combined gross income of $48,000 annually supports a strong cap rate for an incoming investor. Ideally situated just blocks from Jack London Square, the ferry terminal, the Amtrak station, and with immediate freeway access to I-880, the building offers the connectivity and character that defines this evolving Oakland corridor.
No exterior & parking available.
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 | 1,260 | 1,816 | 20% |
| Lot Size | 900 | 3,239 | 10% |
| Price | $565.0K | $677.5K | 20% |
| Price per sq ft | $448 | $375 | 80% |
| Built year | 1906 | 1894 | 90% |
| HOA | $0 | $0 | 50% |
| Days on market | 2 | 108 | 10% |
Jun 5, 2026
$565,000
Initial Listing
Sep 15, 2015
$950,000
Public Record
Sep 13, 2010
$209,000
Public Record