256 29th St - Apartments FOR SALE


Oakland, CA 94611- Westlake
$1,795,000 USD
925-876-8336
256 29th St, Oakland, CA for Sale
$1,795,000 USD
Apartments - FOR SALE
1/29
null | 5.33% Cap Rate

256 29th St
Oakland, CA 94611
Westlake


HIGHLIGHTS

  • Four ~1,000 SF 2-bedroom units plus one in-law unit
  • Owner's unit to be delivered vacant - ideal opportunity for an owner-user
  • Substantial rental upside with a 6.5% cap rate on market rents
  • Large 6,274 lot presents a wealth of opportunity to add ADU's where three detached garages stand
  • Pride of ownership asset with top of the line renovations and capital expenditures
  • Sought after Adam's Point location one block from Sprouts shopping center

OVERVIEW

OPEN HOUSE: Saturday March 28th and Sunday March 29th - 12:00 pm - 2:00 pm Introducing 254–256 29th Street, a compelling investment opportunity located in Oakland’s highly sought-after Adams Point neighborhood. This 4,308 SF property, originally built in 1926, consists of four spacious ~1,000 SF 2-bedroom, 1-bathroom units, along with an additional 2-bedroom, 1- bathroom in-law unit. The building has been thoughtfully upgraded and meticulously maintained, featuring modernized interiors with renovated kitchens and bathrooms, stainless steel appliances, and updated flooring throughout. Two units are currently vacant, offering immediate upside for an owner-occupant or the ability to achieve market rents for a pure investment play. Situated on a generous lot, the property presents strong potential for additional ADU development in place of the three detached garages (buyer to verify). The asset is separately metered for gas and electricity, with individual water heaters for each unit, contributing to efficient operations and reduced expenses. With its prime location, strong in-place fundamentals, and clear value-add potential, 254–256 29th Street represents a rare opportunity to acquire a well-performing asset with both stability and upside in one of Oakland’s most desirable rental markets. 256 29th Street is located in Oakland's Adam's Point/ Westlake neighborhood. This highly sought after location is within walking/ biking distance to some of Oakland's top neighborhoods, including Grand Lake, Piedmont Avenue, and downtown. Tenants enjoy being one block from Grocery Outlet as well as a short walk to the shops on Broadway such as Sprouts, CVS Pharmacy, Starbucks, Chipotle, and many more. The commuter central location provides easy access to 19th Street BART, I-580, I-880, I-980, leading to main employment hubs in downtown Oakland, Berkeley, and San Francisco.

FOR SALE DETAILS

PRICE

$1,795,000 USD

PRICE/SF

$417 USD /SF

# OF UNITS

4

PRICE/UNIT

$448,750

CAP RATE

5.33%

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Turn-key Fourplex | Large ~1,000 SF Units

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1926

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,274 SF

ZONING

R70, Oakland

APN/PARCEL ID

010-0803-004-00

ASK ABOUT THIS PROPERTY

Jonathan BurmenkoNAI Northern CaliforniaMore Info
925-876-8336

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Jonathan BurmenkoNAI Northern CaliforniaMore Info
925-876-8336

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