2223 E 23Rd StOakland, CA 94606

Description

A rare and compelling income-producing opportunity in the heart of Oakland — this well-maintained 4-unit multifamily building offers 3,981 square feet of living space on a 7,000 square foot lot, delivering strong day-one cash flow with significant long-term upside. Currently generating $7,900 in monthly gross rental income with a cap rate exceeding 8%, the numbers speak for themselves — this is one of Oakland’s most attractive investment opportunities to hit the market in recent memory. The property features a desirable mix of spacious units with coin laundry on-site, providing additional income and convenience for tenants. The generous 7,000 square foot lot also presents an exceptional ADU development opportunity — adding a unit would further increase rental income and drive long-term asset appreciation. Whether you’re a seasoned investor looking to expand your portfolio or an owner-occupant seeking to live in one unit while the others pay your mortgage, this versatile asset offers a strategy for every type of buyer. Ideally situated in the vibrant Highland Terrace neighborhood of Oakland, the property enjoys outstanding walk ability and unbeatable access to Fruitvale BART Station, Lake Merritt, Laney College, Highland Hospital, I-880 and I-580 freeways, Oakland International Airport, and the waterfront dining and entertainment of Jack London Square. With Oakland’s ongoing urban growth and strong rental demand, this is the kind of asset that builds generational wealth — don’t miss it.

Property Information

Property type

Residential Income

Sub-type

Quadruplex

Year built

1898

Lot size

0.16 acres

Parking spaces

8

Days on market

84

MLS^® Listing#

41141385

Property Features

Appliances

Gas Water Heater

Heating

Wall Furnace

Flooring

Concrete · Laminate

Parking

Garage

Lot features

Back Yard

Construction

Wood Siding

Parcel number

2229631

Directions

Cross Street: 23rd Ave.