Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Lakefront Duplex with Mediterranean Charm Title is generated by Realmo AI

    2038 2040 LAKESHORE, Oakland, CA 94606

    View on Map
    Claim this Listing
    For Sale
    $2,998,880

    MULTI_FAMILY - Oakland, CA

    Property size:
    3,388 SF
    Lot size:
    0.17 Acres
    Price / SF:
    $885/SF
    Added:
    Apr 7, 2026
    Days on Market:
    45
    Last Refresh:
    May 21 at 3:06 pm

    Property Features for 2038 2040 LAKESHORE

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    7
    Bathrooms
    5
    Rooms
    Bedroom 2, Bedroom 5, Bathroom 3, Bathroom 5, Bedroom 3, Bedroom 4, Bathroom 2, Bathroom 4, Bathroom 1, Bedroom 6, Bedroom 1, Bedroom 7
    Parking features
    Open, Garage, Off Street
    Window features
    Double Pane Windows
    Exterior features
    Terraced Up, Landscape Front
    Appliances
    Gas Water Heater
    Standard status
    Active
    Size
    3,388 SF
    Lot size
    0.17 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Central
    Water source
    Public
    Water front features
    Waterfront
    Water front
    1

    Building Details

    Year built
    1932
    Number of units
    3
    Flooring type
    Laminate, Hardwood, Tile
    Building materials
    Stucco, Shingles
    Roof type
    Tile, Shingle

    We can help!

    Listing Contact
    Tova Osborne
    Tova Osborne

    Listing agent Tova Osborne

    Listing office Realty ONE Group Future 2355 San Ramon Valley Bl #100, San Ramon, CA

    Listing date Apr 7, 2026

    MLS# 41130019 Listing URL

    Copyright © 2026 Contra Costa Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Breathtaking panoramic views of Lake Merritt.
    • Lakefront property with Waterfront Features.
    • Two 3‑bedroom, 2‑bathroom units, plus a studio with separate entrance.
    • Renovated Mediterranean‑style duplex combining classic elegance with modern amenities.
    • Chef's kitchen and tastefully remodeled bathrooms.
    • Pristine hardwood floors throughout.

    Overview

    This renovated Mediterranean-style duplex offers views of Lake Merritt. The property includes two units, each currently configured with three bedrooms and two bathrooms. Interiors feature hardwood floors. The chef's kitchen and remodeled bathrooms offer contemporary style. Dramatic windows provide panoramic lake views. The upper unit includes a Juliet balcony. A bonus space on the bottom level has been converted into a studio with a separate entrance. The property is situated on a 0.1679-acre lot. The building size is 3388 square feet. This property is located in Oakland, CA 94606.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Oakland
    County
    Alameda
    State
    California
    Longitude
    -122.25168
    Latitude
    37.803936

    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
    • $499,000
      2,075 SF

      Oakland Mixed-Use Renovation Opportunity

      Historical mixed-use property in downtown Oakland, ready for customization.
      1014 Castro Street, Oakland, CA 94607
      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
    • $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
    • $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
    • $1,685,000
      2,931 SF

      Modern Condo Home with ADU

      New construction condo with ADU near Berkeley border.
      667 & 667A Alcatraz Ave, Oakland, CA 94609
      View Details
    • $899,000
      2,265 SF

      High-Cash Flow Multi-Unit Property

      Vacant multi-unit property in Highland Terrace with income potential.
      2506 Highland Ave, Oakland, CA 94606
      View Details
    • $860,000
      2,718 SF

      Allendale Park Multifamily Opportunity

      Four-unit property near shops, restaurants, parks, and public transportation.
      3792 Angelo Ave, Oakland, CA 94619
      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

    FAQs

    What type of property is this?
    Duplex - Renovated duplex with lake views, suitable for family or investment.
    Where is this duplex located?
    The property is located at 2038 2040 LAKESHORE Oakland, CA.
    What is the asking price?
    The asking price for this property is $2,998,880.
    What are key features of this property?
    This property features: Breathtaking panoramic views of Lake Merritt.; Lakefront property with Waterfront Features.; Two 3‑bedroom, 2‑bathroom units, plus a studio with separate entrance.
    (510) 305-8252
    We can help!
    Listing Contact
    Tova Osborne
    Tova Osborne
    Learn More
    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
    2038 2040 LAKESHORE, Oakland, CA 94606
    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!