Four-Unit Multifamily
2223 E 23Rd St Oakland, CA 94606
New
2223 E 23Rd St, Oakland, CA, 94606
$938,000
For Sale
$938,000
Well-maintained 4-unit building with on-site coin laundry and monthly gross rent exceeding $7,900.
Property Size3,981 SF
Lot Size7,000.00 Acres
Price / SF$235.62
Days on Market5
Property Features for 2223 E 23Rd St
General Information
- Standard status
- Active
- Size
- 3,981 SF
- Lot size
- 7,000.00 Acres
- Property subtype
- Investment
Building Details
- Year Built
- 1898
Listing Agency
RE/MAX Accord
(510) 560-5666
Listed by
Gloria Chun
(510) 560-5666
Source
Elliman
Added: Jul 14 Checked: Jul 17 at 4:42 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 RE/MAX Accord
Investment Insights
Based on property information with market context.
A well-maintained 4-unit multifamily property offering 3,981 square feet of living space on a 7,000 square foot lot. The building includes coin laundry on-site and is currently generating $7,900 in monthly gross rental income, with a stated cap rate exceeding 8%.
The property is positioned in Oakland’s Highland Terrace area with strong day-to-day accessibility, including walkability (Walk Score 85) and good transit access (Transit Score 53). Access is highlighted to Fruitvale BART Station, Lake Merritt, Laney College, Highland Hospital, and major freeways including I-880 and I-580.
With the generous lot size, the property is also described as having an ADU development opportunity that could allow for an additional unit to increase rental income.
The property is positioned in Oakland’s Highland Terrace area with strong day-to-day accessibility, including walkability (Walk Score 85) and good transit access (Transit Score 53). Access is highlighted to Fruitvale BART Station, Lake Merritt, Laney College, Highland Hospital, and major freeways including I-880 and I-580.
With the generous lot size, the property is also described as having an ADU development opportunity that could allow for an additional unit to increase rental income.
Key Highlights
- 4‑unit multifamily building built in 1898 with 3,981 SF of living space
- 7,000 SF lot with on‑site coin laundry
- Currently generates $7,900 in monthly gross rental income
Local Financial Insights For Multifamily LT 5
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 | $129.0k | $32.40 |
| − Vacancy | −$6.7k | −$1.69 |
| EGI | $122.3k | $30.71 |
| − OpEx | −$36.7k | −$9.21 |
| NOI | $85.6k | $21.50 |
3,981 SF · lease $32.40/SF/yr · vacancy 5.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.07M – $1.43M
NOI $85,576 @ 7.0% cap · market cap 9.12%
Second Best
Apartment 5plus
$1.12M
$977.7K – $1.30M
NOI $78,213 @ 7.0% cap · market cap 8.34%
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $126,944 @ 7.0% cap · market cap 13.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Well-maintained 4-unit building with on-site coin laundry and monthly gross rent exceeding $7,900.
Where is this quadplex located?
The property is located at 2223 E 23Rd St Oakland, CA.
What is the asking price?
The asking price for this property is $938,000.
What are key features of this property?
This property features: 4‑unit multifamily building built in 1898 with 3,981 SF of living space; 7,000 SF lot with on‑site coin laundry; Currently generates $7,900 in monthly gross rental income
