Renovated Oakland Multifamily
For Sale
$1,640,000
1140 22nd Street, Oakland, CA 94606
Fully renovated 5-unit property in Oakland's Clinton neighborhood.
Property Size4,707 SF
Price / SF$348.42
Days on Market267
Property Features for 1140 22nd Street
General Information
Standard status
Active
Size
4,707 SF
Property subtype
Commercial
Site & Location
Neighborhood
San Antonio
Amenities
Composition Roof
Corner
Gate / Door Opener
Hardwood Flooring
Laminate Flooring
Parking Area
Wall Furnace Heating
Wood Flooring
Building Details
Year Built
1966
Listing Agency:
NAI NORTHERN CALIFORNIA
(510) 336-4712
Listed By:
TIMOTHY WARREN · License #02008347
(707) 363-2463
Source:
Corcoran
Added: Feb 7
Changed: Aug 8
Last Checked: Jun 27 at 5:49PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI NORTHERN CALIFORNIA
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Investment Insights
Based on property information with market context.
Located in Oakland's Clinton neighborhood, the property at 1140 E 22nd Street is a fully-renovated 5-unit building. The property comprises one 3-bedroom 2-bathroom unit totaling 1,100 square feet, one 2-bedroom 2-bathroom unit, and three 2-bedroom 1-bathroom units. Each unit features a private balcony, a modern gourmet kitchen with premium appliances, new bathrooms, large closets, vinyl wood flooring, recessed LED lighting, and a new modern design laminate glass entry door. Each unit is individually metered for gas and electricity. The property is located in the Clinton Neighborhood of Oakland, near Lake Merritt, south of Grand Avenue, providing convenient access to Trader Joe's, Starbucks Coffee, cafes, and shops. Residents can enjoy Oakland's restaurants and nightlife, including the Grand Lake Theatre. City bus lines and the Lake Merritt BART Station are nearby, offering access to the Bay Area. The property has a cap rate of 6.42%.
Key Highlights
- 6.42% Cap Rate, representing a strong return on investment.
- Fully renovated, turn‑key property requiring no immediate upgrades or repairs.
- Five units, including a large 3‑bedroom unit, providing diverse rental income streams.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,476
Cap Rate
5.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,849,520
$1.8M
Cap Rate 7%
$1,321,086
$1.3M
Cap Rate 9%
$1,027,511
$1.0M
Market Conditions
NOI Build-Up for 4,707 SF
Gross rent
$177.9K $37.80/SF
− Vacancy
−$9.8K −$2.08/SF
EGI
$168.1K $35.72/SF
− OpEx
−$75.7K −$16.07/SF
NOI
$92.5K $19.65/SF
Area
ZIP 94606
Vacancy
5.50%
Lease Rate
$37.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,849,520
Cap Rate 7%
$1,321,086
Cap Rate 9%
$1,027,511
Alternative Uses
Best Use
Apartment 5plus
$1.32M
$1.16M – $1.54M
NOI $92,476 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.14M
$1.88M – $2.50M
NOI $150,094 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,825
Businesses Nearby
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Business Placement
Demographics for 94606, CA
40,768
Population
17,457
Households
2.3
Avg Household Size
37
Median Age
40%
College-Educated
80%
High-School Grad
2.3 sq mi
ZIP Area
17,725
Density / Sq Mi
$70,769
Median Household Income
$47,558
Median Earnings
$1,775
Median Rent
$747,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully renovated 5-unit property in Oakland's Clinton neighborhood.
Where is this apartment building located?
The property is located at 1140 22nd Street Oakland, CA.
What is the asking price?
The asking price for this property is $1,640,000.
What are key features of this property?
This property features: 6.42% Cap Rate, representing a strong return on investment.; Fully renovated, turn‑key property requiring no immediate upgrades or repairs.; Five units, including a large 3‑bedroom unit, providing diverse rental income streams.
