5687 Miles Ave - Apartments FOR SALE


Oakland, CA 94618- Rockridge
$4,750,000 USD
510-454-9708
5687 Miles Ave, Oakland, CA for Sale
$4,750,000 USD
Apartments - FOR SALE
1/12
null | 6.01% Cap Rate

5687 Miles Ave
Oakland, CA 94618
Rockridge


HIGHLIGHTS

  • 6.01% Cap Rate / 11.09 GIM (Gross Income Multiplier)
  • Unparalleled location on Miles Ave at College Ave (just steps from Rockridge BART Station)
  • Surrounded by College Ave shops and retail (Trader Joes, Market Hall, Zachary’s Pizza, Starter Bakery, Safeway)
  • Significant additional income from rooftop antenna leases
  • High end interior finishes
  • Rockridge Urban Village lifestyle (Walk Score of 97)

OVERVIEW

We are pleased to present 5687 Miles Avenue, an exceptional 11-unit multifamily investment opportunity located in Oakland's premier Rockridge neighborhood. This trophy asset offers investors a rare combination of stable residential income as well as substantial commercial revenue through long-term wireless carrier roof top leases. The property's strategic positioning directly across from the Rockridge BART station provides unmatched connectivity to major employment centers, with 22-minute access to San Francisco's Financial District and seamless highway connectivity via Route 24. The building's desirable unit mix of studios through two-bedroom apartments commands strong rents in a neighborhood characterized by affluent demographics, including a median household income of $212,638 and exceptional walkability (Walk Score 97/100). Rockridge's urban village atmosphere, anchored by the vibrant College Avenue corridor with its acclaimed restaurants, boutique shopping, and essential services all within walking distance, ensures consistent tenant demand from the area's highly educated professional workforce. The unique wireless lease income effectively adds the equivalent of additional rental units without associated management overhead, creating a truly differentiated investment profile that combines the stability of multifamily housing with the security of infrastructure-essential commercial income. This rare offering represents an opportunity to acquire a cash-flowing asset in one of the East Bay's most coveted neighborhoods, where strong fundamentals and demographic trends support both immediate returns and long-term value appreciation.

FOR SALE DETAILS

PRICE

$4,750,000 USD

PRICE/SF

$648 USD /SF

# OF UNITS

11

PRICE/UNIT

$431,818

CAP RATE

6.01%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1922

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,467 SF

ZONING

commercial

APN/PARCEL ID

014-1266-006-00

ASK ABOUT THIS PROPERTY

Joseph OwensMarcus & MillichapMore Info
510-454-9708

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Joseph OwensMarcus & MillichapMore Info
510-454-9708

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