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2802 38th Ave Oakland, CA 94619
3,493 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Subdivision Allendale
MLS Listing ID 41132978
HOA Y/N No
Year Built 1925
Lot Size 3,493 Sqft
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
Interior
Heating Electric, Natural Gas
Flooring Carpet, Concrete, Laminate, Tile
Fireplace No
Appliance Gas Water Heater
Exterior
Parking Features Carport
Total Parking Spaces 1
Building
Lot Description Corner Lot
Others
Tax ID 32205431
Listed by Grace Nguyen Realty ONE Group Future #01976505