2244 12th AVE, Oakland, CA 94606
- $1,375,000
- 5,495
- SqFt
Listed by Ray Rodriguez, 650-405-0743 from Compass
(If provided) CoList: Tony Zizzo from Compass
- List Price
- $1,375,000
- Closing Date
- Aug 04, 2026
- MLS#
- ML82045784
- Status
- PENDING (DO NOT SHOW)
- Sqft. of Residence
- 5,495
- Lot Size
- 7,500
- Listing Area
- Oakland Zip Code 94606
- Year Built
- 1962
Property Description
Price Per Unit Under $200k. 2244 12th Avenue presents a seven-unit multifamily investment opportunity in Oakland's Clinton Neighborhood, a well-established rental pocket in the East Bay. Located on a corner lot with strong street presence, the property offers immediate access to Lake Merritt, Grand Avenue, Lakeshore dining and retail, Downtown Oakland employment hubs, and direct freeway access to I-580 and I-880. The asset consists of seven 2-bedroom/1-bathroom apartments across a two-story wood frame and stucco building totaling 5,495 sq ft, built in 1962 on a 0.17-acre lot. All units are individually metered for gas and electricity. Income is further supported by a double garage leased to an on-site tenant, five designated parking spaces offered to residents for a monthly fee, and a coin-operated laundry room generating supplemental income. Units are clean and fully rentable in their current condition, with clear value-add potential for an incoming owner to modernize interiors and bring rents to market at $2,200/month. Current cap rate of 7.81% with a pro forma cap rate of 9.52% at market rents. SB 721 inspection completed. Do Not Disturb Tenants.
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Additional Information
- Cooling System
- Other
- Days On Market
- Unknown
- Floor Covering
- Vinyl / Linoleum
- Foundation
- Concrete Slab
- Garage Parking
- Assigned Spaces, Attached Garage, On Street, Uncovered Parking
- Heating System
- Wall Furnace
- Laundry Facilities
- Coin Operated
- Living Area
- 5,495
- Lot Size
- 7,500
- Neighborhood
- Oakland Zip Code 94606
- Other Utilities
- Individual Electric Meters, Individual Gas Meters
- Roof
- Flat / Low Pitch, Rolled Composition
- Sewer
- Sewer - Private
- Unincorporated Yn
- Yes
- Zoning
- RM-2
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