Renovated 5-Unit Multifamily
For Sale
Contact for pricing
1140 E 22nd St, Oakland, CA 94606
Fully renovated 5-unit building offers multiple 2-bedroom units plus one large 3-bedroom unit, each with a private balcony.
Property Size4,707 SF
Price / SF$393.03
Days on Market409
Property Features for 1140 E 22nd St
General Information
Standard status
Active
Size
4,707 SF
Property subtype
RETAIL
Occupancy
100%
Additional Details
Multifamily Units
5
Listing Agency:
Symmetry Real Estate
(925) 876-5188
Listed By:
Karen Ho
Source:
Moodyscre
Added: Jun 23, 2025
Changed: Jul 27
Last Checked: Aug 4 at 1:43PM
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 Symmetry Real Estate
Investment Insights
Based on property information with market context.
This fully renovated 5-unit multifamily property includes one large 3-bedroom, 2-bath unit totaling 1,100 square feet, one 2-bedroom, 2-bath unit, and three 2-bedroom, 1-bath units. Each unit features its own private balcony and updates throughout, including modern gourmet kitchens with premium appliances, newly renovated bathrooms, vinyl wood flooring, recessed LED lighting, and brand new modern laminate glass entry doors. The units also offer huge closets, and each unit is individually metered for gas and electricity.
Located in Oakland’s Clinton neighborhood, the property is described as being just blocks from Lake Merritt and south of Grand Avenue. The surrounding area provides nearby access to retail and dining options, along with city bus lines and proximity to the Lake Merritt BART Station.
The building is presented as fully occupied and turn-key stabilized.
Located in Oakland’s Clinton neighborhood, the property is described as being just blocks from Lake Merritt and south of Grand Avenue. The surrounding area provides nearby access to retail and dining options, along with city bus lines and proximity to the Lake Merritt BART Station.
The building is presented as fully occupied and turn-key stabilized.
Key Highlights
- Fully renovated 5‑unit property in Oakland’s Clinton neighborhood, south of Grand Avenue
- Unit mix includes one large 3BR/2BA unit totaling 1,100 SF plus four 2‑bedroom units
- All units have private balconies and updated interiors with recessed LED lighting and vinyl wood flooring
Financial Insights For Apartment 5plus
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 | $177.9k | $37.80 |
| − Vacancy | −$9.8k | −$2.08 |
| EGI | $168.1k | $35.72 |
| − OpEx | −$75.7k | −$16.07 |
| NOI | $92.5k | $19.65 |
4,707 SF · lease $37.80/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.32M
$1.16M – $1.54M
NOI $92,476 @ 7.0% cap · market cap 5.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.14M
$1.88M – $2.50M
NOI $150,094 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,599
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully renovated 5-unit building offers multiple 2-bedroom units plus one large 3-bedroom unit, each with a private balcony.
Where is this apartment building located?
The property is located at 1140 E 22nd St Oakland, CA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Fully renovated 5‑unit property in Oakland’s Clinton neighborhood, south of Grand Avenue; Unit mix includes one large 3BR/2BA unit totaling 1,100 SF plus four 2‑bedroom units; All units have private balconies and updated interiors with recessed LED lighting and vinyl wood flooring
