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2246 23Rd AveOakland, CA 94606

HIGHLAND TERRACE · Alameda County

$1,300,000List price
1926Year built
0.07Acre lot
7 weeks agoOn market

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.

Property Information

Property type
Residential Income
Year built
1926
Lot size
0.07 acres
Days on market
53
MLS® Listing#
41144736

Property Features

Heating
See Remarks
Lot features
Corner Lot
Construction
Stucco

Financial Details

Annual taxes
$19,927
Parcel number
267571

Directions

Cross Street: E 23rd St / 23rd.

Listing Courtesy: Marcus & Millichap - 5103791200

Presented by: Joseph Owens

Based on information from California Regional Multiple Listing Service, Inc. as of 2026-08-12 and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Licensed in the state of California.

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