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2802 38th Ave Oakland, CA 94619
7 Beds
3,171 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,171 sqft
Price per Sqft $252
Subdivision Allendale
MLS Listing ID 41132978
Bedrooms 7
HOA Y/N No
Year Built 1925
Lot Size 3,493 Sqft
Acres 0.08
Property Sub-Type Quadruplex
Property Description
2802 38th Avenue, Oakland presents a compelling mixed-use investment opportunity with immediate cash flow and strong upside potential. The property consists of three residential units—two 2BR/1BA units and one 3BR/1BA unit—along with one commercial space, providing diversified income streams and reduced vacancy risk. Currently generating approximately $7,500/month ($90,000+ annually), this asset offers solid in-place income with projected upside to $90,384+ annually. With tenants responsible for most utilities, operating expenses remain low, contributing to a favorable net operating income (NOI) profile. At an asking price of $788,999, the property is projected to deliver an attractive cap rate in the ~7% range (buyer to verify), making it a strong addition to any income-focused portfolio. Strategically located in the Allendale neighborhood, the property benefits from proximity to I-580, offering convenient access to Downtown Oakland and San Francisco. Nearby retail corridors along Fruitvale Avenue and MacArthur Boulevard enhance tenant demand and long-term rental stability. This is a low-maintenance, high-yield asset ideal for investors seeking cash flow, diversification, and long-term appreciation in a growing East Bay market.
Location
State CA
County Alameda
Rooms
Basement None
Interior
Heating Electric, Natural Gas
Cooling Room Air
Flooring Concrete, Laminate, Tile, Carpet
Fireplace No
Window Features Window Coverings
Appliance Gas Water Heater
Exterior
Utilities Available Sewer Connected, All Utilities, Natural Gas Connected, Individual Electric Meter, Individual Gas Meter
Building
Lot Description Corner Lot
Water Public
New Construction No
Others
Tax ID 32205431
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Listed by Grace Nguyen • Realty ONE Group Future