2550 35th Ave - Apartments FOR SALE


Oakland, CA 94601- Harrington
$2,750,000 USD
925-956-7920
2550 35th Ave, Oakland, CA for Sale
$2,750,000 USD
Apartments - FOR SALE
1/62
null | 5.1% Cap Rate

2550 35th Ave
Oakland, CA 94601
Harrington


HIGHLIGHTS

  • The building has been earthquake retrofitted ($110,000).
  • The roofs have been replaced in the past year ($40,000).
  • The electrical panels and subpanels have been upgraded & replaced ($40,000).

OVERVIEW

Bay's Elite Investments is pleased to present to the seasoned investors a unique investment property in a solid Oakland location in the Bartlett/Allendale neighborhood. This 18 unit apartment complex features Six 2 bed/1bath and Twelve 1bed/1bath units with and four 1bd/1bth units with market rate tenants, with an excellent long-term upside. The property was originally built in 1954, offers approximately 11,960 square feet of rental space, and sits on a 1/2 acre lot with 18 parking space, majority of them being carports (1 to 1 ratio). Some units have been remodeled over time and offer newer kitchens and bathrooms, vinyl floors, and so on. The building is located about 3 minutes from 580 freeway with a quick and easy commute to Oakland Lake Merritt or a 30 minute drive to downtown San Francisco. Fruitvale BART is literary a 5 minute drive or bike ride south on 35th Ave or 10 minutes on bus. The current owners have made substantial capital expenditures in the property in the past several years. The roof of both buildings have been replaced and recoated in 2024 and 2025 at a cost of approximately $40,000. The property has been earthquake retrofitted at a cost of about $110,000 in 2024. The building electrical panels and subpanels were fully upgraded in June of 2025 at a cost of $40,000. Finally, all the units have been extensively rehabbed upon turnover. The property is wells maintained and easy to manage and is separately metered for PG&E providing for low annual operating expenses. The property is priced at $229.93 price per square feet, well below the replacement cost. It offers a new investor tremendous of 30-40% upside by raising rents through buy-out or other means.

FOR SALE DETAILS

PRICE

$2,750,000 USD

PRICE/SF

$112 USD /SF

# OF UNITS

55

PRICE/UNIT

$50,000

CAP RATE

5.1%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1956

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,693 SF

ZONING

R-70, Oakland

APN/PARCEL ID

032-2101-035-00

ASK ABOUT THIS PROPERTY

Pedram KarbassiBay's Elite Investments, Inc.More Info
925-956-7920

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

Pedram KarbassiBay's Elite Investments, Inc.More Info
925-956-7920

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