1152 98th Ave - Apartments FOR SALE


Oakland, CA 94603- Elmhurst Park
$2,300,000 USD
408-345-5169
1152 98th Ave, Oakland, CA for Sale
$2,300,000 USD
Apartments - FOR SALE
1/6
null | 6.13% Cap Rate

1152 98th Ave
Oakland, CA 94603
Elmhurst Park


HIGHLIGHTS

  • Fully Renovated Mixed-Use Asset
  • Possible Loan Assumption
  • Updated Infrastructure
  • Strong Unit Mix
  • Flexible Use Potential
  • Ideal for Investors or Owner-Users

OVERVIEW

Offering memorandum available upon request. Yellowstone Investments is pleased to present 1152 98th Avenue, a fully renovated mixed-use property located on a prominent corner in Oakland. This unique asset includes six total units—one retail space and five residential units—across two separate buildings. With over $2.2 million invested in renovations, this offering represents a rare opportunity to acquire a turnkey property with minimal deferred maintenance. The first building is a duplex originally constructed in 1950 and fully remodeled in 2019. Each one-bedroom, one-bath unit has its own water meter, with tenants covering their water usage. The building on the corner was initially built in 1905, was taken down to the studs and completely rebuilt in 2021. It features a ground-floor retail space, a designated storage area, one large two-bedroom unit, and two three-bedroom units. All units are equipped with washer/dryer sets, tankless water heaters, and furnaces designed to accommodate future A/C condensers. The corner building operates on a single water meter; tenants pay 80% of the total bill, while the owner covers the remaining 20%. There are seven parking spaces on-site, including three garage spots. A low-rate mortgage from Fremont Bank—adjusting in April 2027—may be assumed or modified, subject to buyer qualifications. Upon offer acceptance, the seller will provide full construction documentation, including the plans and permits. The owner preserved elements of the site’s historic charm, using bricks from the original and nearby buildings in the walkways. Additionally, a framed exterior door and plumbing infrastructure in the upstairs room of Unit 1154 create the possibility for an easy future unit conversion. With significant capital improvements already completed, this asset is well- suited for an investor, nonprofit, or family compound buyer seeking quality and long-term stability in a high-demand Oakland location.

FOR SALE DETAILS

PRICE

$2,300,000 USD

PRICE/SF

$379 USD /SF

# OF UNITS

6

PRICE/UNIT

$383,333

CAP RATE

6.13%

% LEASED

0%

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1905

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,276 SF

ZONING

RM4

APN/PARCEL ID

044-4975-001-01

ASK ABOUT THIS PROPERTY

Adam DahdouhYellowstone InvestmentsMore Info
408-345-5169

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Adam DahdouhYellowstone InvestmentsMore Info
408-345-5169

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.