4-Unit Multifamily with On-Site
2223 E 23Rd St Oakland, CA 94606
2223 E 23Rd St, Oakland, CA, 94606
$938,000
For Sale
$938,000
MULTI_FAMILY - Oakland, CA
Property Size3,981 SF
Lot Size0.16 Acres
Price / SF$235.62
Days on Market11
Property Features for 2223 E 23Rd St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Quadruplex
- Bedrooms
- 14
- Bathrooms
- 17
- Rooms
- Bedroom 12, Bathroom 15, Bedroom 1, Bedroom 3, Bathroom 10, Bathroom 3, Bathroom 6, Bathroom 14, Bedroom 4, Bedroom 10, Bathroom 9, Bathroom 17, Bedroom 14, Bedroom 13, Bathroom 5, Bedroom 9, Bedroom 6, Bathroom 1, Bedroom 11, Bathroom 12, Bathroom 8, Bathroom 16, Bedroom 7, Bathroom 4, Bathroom 7, Bathroom 13, Bedroom 8, Bathroom 2, Bedroom 5, Bathroom 11, Bedroom 2
- Parking features
- Parking Lot
- Exterior features
- Back Yard
- Fencing
- Fenced
- Appliances
- Gas Water Heater
- Standard status
- Active
- APN
- 2229631
- Size
- 3,981 SF
- Lot size
- 0.16 Acres
Utilities
- Sewer type
- Public Sewer
- Heating system
- Wall Furnace
- Water source
- Public
Building Details
- Year built
- 1898
- Number of units
- 4
- Flooring type
- Laminate, Concrete
- Building materials
- Wood Siding
Listing agency
RE/MAX Accord
(510) 739-4000
Listed by
Leo Zhang
(510) 590-1628
Added: Jul 11 Updated: Jul 18 at 4:51AM Checked: Jul 21 at 7:06PM
MLS# 41141385
Copyright © 2026 Bay East. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Well-maintained 4-unit multifamily building offering income-producing residential rental space. The property is described as containing 3,981 square feet of living area on a 7,000 square foot lot, with coin laundry on-site. The current income is stated as $7,900 in monthly gross rental income, with a cap rate exceeding 8% as reported in the remarks.
Located in Oakland’s Highland Terrace area at 2223 E 23Rd St (94606), the property is positioned for convenient access to Fruitvale BART Station, Lake Merritt, Laney College, Highland Hospital, and the I-880 and I-580 freeways. The remarks also note access to Oakland International Airport and the waterfront dining and entertainment of Jack London Square.
The marketing materials further highlight the lot size as presenting an ADU development opportunity. Information provided reflects the current configuration as a 4-unit building with on-site laundry.
Located in Oakland’s Highland Terrace area at 2223 E 23Rd St (94606), the property is positioned for convenient access to Fruitvale BART Station, Lake Merritt, Laney College, Highland Hospital, and the I-880 and I-580 freeways. The remarks also note access to Oakland International Airport and the waterfront dining and entertainment of Jack London Square.
The marketing materials further highlight the lot size as presenting an ADU development opportunity. Information provided reflects the current configuration as a 4-unit building with on-site laundry.
Key Highlights
- 4‑unit multifamily building with 3,981 SF of living space on a 7,000 SF lot
- Currently generating $7,900 in monthly gross rental income and a cap rate exceeding 8% (per public remarks)
- On‑site coin laundry included
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $129.0k | $32.40 |
| − Vacancy | −$6.7k | −$1.69 |
| EGI | $122.3k | $30.71 |
| − OpEx | −$36.7k | −$9.21 |
| NOI | $85.6k | $21.50 |
3,981 SF · lease $32.40/SF/yr · vacancy 5.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.07M – $1.43M
NOI $85,576 @ 7.0% cap · market cap 9.12%
Second Best
Apartment 5plus
$1.12M
$977.7K – $1.30M
NOI $78,213 @ 7.0% cap · market cap 8.34%
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $126,944 @ 7.0% cap · market cap 13.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Well-maintained four-unit building with coin laundry on-site.
Where is this quadplex located?
The property is located at 2223 E 23Rd St Oakland, CA.
What is the asking price?
The asking price for this property is $938,000.
What are key features of this property?
This property features: 4‑unit multifamily building with 3,981 SF of living space on a 7,000 SF lot; Currently generating $7,900 in monthly gross rental income and a cap rate exceeding 8% (per public remarks); On‑site coin laundry included
