Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Turnkey Multifamily Near Lake Merritt Title is generated by Realmo AI

    1560 Jackson Street, Oakland, CA 94612

    View on Map
    Claim this Listing
    For Sale
    $6,450,000

    33-unit multifamily property near Lake Merritt and Downtown Oakland.

    Type:Multifamily
    Property size:
    19,587 SF
    Price / SF:
    $329/SF
    Added:
    Nov 21, 2025
    Days on Market:
    194
    Last Refresh:
    May 8 at 11:45 pm

    Property Features for 1560 Jackson Street

    General Information

    Standard status
    Active
    Size
    19,587 SF
    Property subtype
    Multifamily

    Building Details

    Year Built
    1959

    We can help!

    Listing Contact
    Grant Chappell
    Grant Chappell

    Listing agent Grant Chappell License #CalDRE #01700439

    Listing office NAI Northern California - HQ

    Listing date Nov 21, 2025

    Source Naiglobal

    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 - HQ

    HighLights

    • Turnkey 33‑unit multifamily property with substantial rental upside.
    • Assumable Chase debt fixed at 3.5% until May, 2030.
    • Ideally located two blocks from Lake Merritt and close to Downtown Oakland and two BART stations.
    • Majority of units renovated with granite countertops, stainless steel appliances, and new fixtures.
    • 25 Off‑street parking spaces.
    • Separately metered for gas and electric.

    Overview

    This 33-unit multifamily property is located in the Westlake neighborhood, near Oakland's Central Business District and two blocks from Lake Merritt. The majority of units have been renovated to modern standards, featuring granite countertops, stainless steel appliances, and new fixtures. The property includes 25 off-street parking spaces, laundry facilities, remote entry, and separate gas and electric metering. Its location provides convenient access to walking trails and attractions around the lake, as well as dining, shopping, and entertainment options in Downtown Oakland. Two BART stations are also nearby, providing connections for commuters and young professionals. The property has a new facade, exterior paint, and windows and is soft story exempt. The property is ideally suited for multifamily investors seeking a prime location in the East Bay market.

    Local 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 $787.4k $40.20
    − Vacancy −$35.4k −$1.81
    EGI $752.0k $38.39
    − OpEx −$338.4k −$17.28
    NOI $413.6k $21.12
    19,587 SF · lease $40.20/SF/yr · vacancy 4.50% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $5.91M
    $5.17M – $6.89M (±1% cap)
    NOI $413,580 @ 7.0% cap · market cap 6.41%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Multifamily LT 5
    $6.41M
    $5.61M – $7.48M (±1% cap)
    NOI $448,890 @ 7.0% cap · market cap 6.96%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Law Firm Dental Office Hair Salon Nail Salon Food Market Daycare Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oakland
    County
    Alameda
    State
    California
    Longitude
    -122.263
    Latitude
    37.8041

    Nearby Similar for Sale

    • $849,888
      1,988 SF

      Oakland Commercial Property on International Blvd

      Established bakery and produce business on high-traffic International Blvd.
      10228 International, Oakland, CA 94603
      View Details
    • $895,000
      4,816 SF

      Victorian Fourplex in Downtown Oakland

      1909 fourplex with original character and updated roof.
      667 10Th St, Oakland, CA 94607
      View Details
    • $1,450,000
      4,248 SF

      Oakland Fourplex with Vacant Unit

      Vintage fourplex near Lake Merritt with upside potential.
      881 Erie St, Oakland, CA 94610
      View Details
    • $1,470,000
      3,656 SF

      Oakland Triplex Near Pill Hill

      Stabilized triplex near Kaiser, BART, and Lake Merritt.
      2832 Summit St, Oakland, CA 94609
      View Details
    • $879,000
      3,293 SF

      Oakland Multifamily Property For Sale

      Charming Oakland 4-plex with income potential and convenient location.
      1436 52Nd Ave, Oakland, CA 94601
      View Details
    • $915,000
      2,517 SF

      North Oakland Triplex with Income Potential

      Charming triplex in North Oakland with expansion opportunities.
      876-880 52nd St, Oakland, CA 94608
      View Details
    • $1,325,000
      2,674 SF

      Oakland Multifamily Property For Sale

      Four units near U.C. Berkeley with immediate upside potential.
      6437 Telegraph Ave, Oakland, CA 94609
      View Details
    • $749,000
      2,551 SF

      Oakland Triplex in Dimond District

      Income-producing triplex in Oakland's vibrant Dimond District.
      2550 Pleasant st, Oakland, CA 94602
      View Details
    • $995,000
      3,940 SF

      West Oakland Multifamily Victorian Gem

      Two homes on one lot near downtown Oakland.
      1033 Magnolia, Oakland, CA 94607
      View Details
    • $1,150,000
      3,382 SF

      Five-Unit Multifamily with Vacant Rear

      Fully renovated 2014 five-unit property with separate front and vacant rear buildings for owner-occupancy or lease-up.
      5418 Telegraph Ave, Oakland, CA 94609
      View Details
    • $599,888
      1,639 SF

      Oakland Triplex Investment Opportunity

      Well-located East Oakland triplex with income potential.
      3309 64Th Ave, Oakland, CA 94605
      View Details
    • $999,000
      2,985 SF

      Oakland Duplex: Modern Upgrades

      Renovated Oakland duplex near Uptown with strong rental income potential.
      523 25Th St, Oakland, CA 94612
      View Details

    FAQs

    What type of property is this?
    Apartment building - 33-unit multifamily property near Lake Merritt and Downtown Oakland.
    Where is this apartment building located?
    The property is located at 1560 Jackson Street Oakland, CA.
    What is the asking price?
    The asking price for this property is $6,450,000.
    What are key features of this property?
    This property features: Turnkey 33‑unit multifamily property with substantial rental upside.; Assumable Chase debt fixed at 3.5% until May, 2030.; Ideally located two blocks from Lake Merritt and close to Downtown Oakland and two BART stations.
    (415) 246-4314
    We can help!
    Listing Contact
    Grant Chappell
    Grant Chappell
    Real Estate License ID: CalDRE #01700439
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1560 Jackson Street, Oakland, CA 94612
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!