Turnkey Multifamily Near Lake
1560 Jackson Street Oakland, CA 94612
1560 Jackson Street, Oakland, CA, 94612
$6,450,000
For Sale
$6,450,000
33-unit multifamily property near Lake Merritt and Downtown Oakland.
Property Size19,587 SF
Price / SF$329.30
Days on Market239
Property Features for 1560 Jackson Street
General Information
- Standard status
- Active
- Size
- 19,587 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1959
Listing Agency
NAI Northern California
(415) 246-4314
Listed by
Grant Chappell · License #CalDRE #01700439
(415) 246-4314
Source
Naiglobal
Added: Nov 21, 2025 Checked: Jul 16 at 8:00 am
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
Investment Insights
Based on property information with market context.
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.
Key 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.
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
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
NOI $448,890 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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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.
