881 Erie St - Apartments FOR SALE


Oakland, CA 94610- Lower Hills District
$1,450,000 USD
881 Erie St, Oakland, CA for Sale
$1,450,000 USD
Apartments - FOR SALE
1/13
null | 5.5% Cap Rate


HIGHLIGHTS

  • Trader Joe's, Peet's Coffee, Walgreens, and a full slate of neighborhood retail and dining sit just blocks away.
  • Owner-occupy at ~$2,750/mo market value with hills views and three units offsetting most of the mortgage, or lease at market rate.
  • One garage per unit with automatic openers — a near-impossible amenity to replicate in vintage Oakland multifamily.

OVERVIEW

Vintage 1926 Oakland Fourplex Between Grand & Lakeshore — $362,500/Unit, Owner-Occupier Unit Delivered Vacant with Oakland Hills Views. Spanish-style stucco beauty in one of Oakland's most amenity-rich pockets. Trader Joe's, Peet's, Walgreens, and the Saturday Grand Lake Farmers Market sit just blocks away. Lake Merritt is nearby. Three occupied units throw off $87,672 in annual income while Unit 4 delivers vacant — pick it up at market or move in and take in the serene Oakland Hills views yourself. Four 2BR/1BA units (~910 SF each) with refinished hardwood floors, crown molding, updated kitchens, and stainless appliances. The operational story is just as strong: four private garages (one per unit), 2025 EV-charging sub-panel, separate gas and electric meters per unit, app-to-pay basement laundry, three storage rooms, Schlage keyless entries, Ring cameras, automatic garden watering, 2025 water heater, and 2020 Lennox furnaces. Vintage character, modern systems, real upside. $1,450,000. TRANSPARENT PRICE. Unit 4 is vacant and can be shown via Calendly. Contact Joey at joey.wang@loremultifamily.com with questions. For the offering memorandum and inspection reports, go to https://www.loremultifamily.forsale/ Offers are due on Tuesday, 6/9, at noon. Disclaimer: The photos in this listing have been digitally enhanced.

FOR SALE DETAILS

PRICE

$1,450,000 USD

PRICE/SF

$378 USD /SF

# OF UNITS

4

PRICE/UNIT

$362,500

CAP RATE

5.5%

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1926

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,000 SF

ZONING

-

APN/PARCEL ID

011-0840-003-02

ASK ABOUT THIS PROPERTY

Joey WangKW CommercialMore Info

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

Joey WangKW CommercialMore Info

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