2246 23rd Ave, Oakland, CA 94606
- $1,300,000
- 4,715
- SqFt
- List Price
- $1,300,000
- Status
- ACTIVE
- MLS#
- 41144736
- Year Built
- 1926
- Property Type
- 5 Or More Units
- Living Area
- 4,715
- Lot Size
- 2,840
- Acres
- 0.07
- County
- Alameda
- Subdivision
- Highland Terrace
Property Description
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.
Additional Information
- Exterior
- Stucco
- Flooring
- Vinyl
- Lot Description
- Corner Lot
- Parking Features
- No Parking on Site
- Roof
- Flat
- Water Sewer
- Public
Mortgage Calculator
Listing courtesy of Joseph Owens from Marcus & Millichap. 925-808-9098
Bay East © 2026. CCAR © 2026. BridgeMLS © 2026. Information Deemed Reliable But Not Guaranteed. This information is being provided by the Bay East MLS, or CCAR MLS, or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website. This information is intended for the personal use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated on: