Four-Unit Apartment
2261 48th Ave Oakland, CA 94601
2261 48th Ave, Oakland, CA, 94601
$1,500,000
For Sale
$1,500,000
Well-maintained four-unit multifamily property with a mix of 2-bedroom and 3-bedroom residences and garage parking.
Property Size4,278 SF
Lot Size0.17 Acres
Price / SF$350.63
Days on Market76
Property Features for 2261 48th Ave
General Information
- Standard status
- Active
- Size
- 4,278 SF
- Lot size
- 0.17 Acres
- Property subtype
- Investment
Building Details
- Year Built
- 1960
Listing agency
Marcus & Millichap - Palo Alto
(650) 546-1030
Listed by
Eymon Binesh · License #02060059
(650) 546-1030
Source
Elliman
Added: May 9 Updated: Jul 22 at 3:38AM Checked: Jul 22 at 3:38AM
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 Marcus & Millichap - Palo Alto
Investment Insights
Based on property information with market context.
This well-maintained four-unit apartment building was built in 1960 and is currently 100% occupied. The unit mix includes three 2-bedroom, 1-bath units and one 3-bedroom, 2-bath unit, each described as offering spacious layouts. The property totals approximately 4,278 square feet on a 0.17-acre lot and provides four garage parking spaces with a 1:1 ratio. Utilities are separately metered for each unit with individually metered gas and electric, and master metered water.
The property is in Oakland’s Lower Maxwell Park/Melrose area of East Oakland, with convenient access to High Street and Foothill Blvd, as well as Interstates 580 and 880. It is also noted as being near public transit, neighborhood retail, and parks.
With three 2-bedroom units and one 3-bedroom unit, the building offers a straightforward income-producing configuration supported by in-place occupancy. The listing also notes rents are approximately 9% below market, suggesting room for growth over time.
The property is in Oakland’s Lower Maxwell Park/Melrose area of East Oakland, with convenient access to High Street and Foothill Blvd, as well as Interstates 580 and 880. It is also noted as being near public transit, neighborhood retail, and parks.
With three 2-bedroom units and one 3-bedroom unit, the building offers a straightforward income-producing configuration supported by in-place occupancy. The listing also notes rents are approximately 9% below market, suggesting room for growth over time.
Key Highlights
- Built in 1960, well‑maintained 4‑unit multifamily with approx. 4,278 SF on a 0.17‑acre lot
- Unit mix: three 2BD/1BA units and one 3BD/2BA unit
- 100% occupied with stable in‑place 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 | $146.3k | $34.20 |
| − Vacancy | −$6.1k | −$1.44 |
| EGI | $140.2k | $32.76 |
| − OpEx | −$42.0k | −$9.83 |
| NOI | $98.1k | $22.93 |
4,278 SF · lease $34.20/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.40M
$1.23M – $1.64M
NOI $98,114 @ 7.0% cap · market cap 6.54%
Second Best
Apartment 5plus
$1.30M
$1.14M – $1.52M
NOI $91,087 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$1.74M
$1.53M – $2.03M
NOI $122,063 @ 7.0% cap · market cap 8.14%
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 four-unit multifamily property with a mix of 2-bedroom and 3-bedroom residences and garage parking.
Where is this quadplex located?
The property is located at 2261 48th Ave Oakland, CA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Built in 1960, well‑maintained 4‑unit multifamily with approx. 4,278 SF on a 0.17‑acre lot; Unit mix: three 2BD/1BA units and one 3BD/2BA unit; 100% occupied with stable in‑place income
