Oakland Multifamily Building with History

33rd Street, Oakland, CA 94602

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For Sale

$2,678,000

Oakland multifamily property featuring 18 units with historical significance.

Type:Commercial

Property size:

11,123 SF

Lot size:

0.22 Acres

Price / SF:

$240/SF

HighLights

18 Units Total: Offers a substantial investment opportunity.
Mix of Unit Types: Includes 6 one‑bedroom and 12 studio apartments.
Year Built: Constructed in 1938, indicating potential for historical charm.
Unique History: Building was relocated in the 1960s due to freeway construction.
Established Location: Currently situated on E. 33rd Street in Oakland.
Purchased at Auction: Property was acquired from the State of California.

We can help!

Listing Contact

FRANK HENNEFER

Learn more

For Sale

$2,678,000

Oakland multifamily property featuring 18 units with historical significance.

Type:Commercial

Property size:

11,123 SF

Lot size:

0.22 Acres

Price / SF:

$240/SF

Added:: May 2, 2025
Days on Market:: 417
Last Refresh:: Apr 5 at 8:52 pm

Property Features for 33rd Street

General Information

Standard status: Active
Size: 11,123 SF
Lot size: 0.22 Acres
Property subtype: Commercial

Building Details

Year Built: 1938

We can help!

Listing Contact

FRANK HENNEFER

Listing agent FRANK HENNEFER License #00852682

Listing office FRANK T. HENNEFER, BROKER

Listing date May 2, 2025

Source Corcoran

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 FRANK T. HENNEFER, BROKER

HighLights

18 Units Total: Offers a substantial investment opportunity.
Mix of Unit Types: Includes 6 one‑bedroom and 12 studio apartments.
Year Built: Constructed in 1938, indicating potential for historical charm.
Unique History: Building was relocated in the 1960s due to freeway construction.
Established Location: Currently situated on E. 33rd Street in Oakland.
Purchased at Auction: Property was acquired from the State of California.

Overview

Located on 33rd Street in Oakland, California, this multifamily property features 18 units. The unit mix comprises 6 one-bedroom units and 12 studio units. Constructed in 1938, the building has a history of being relocated. Originally situated near Beaumont Avenue and MacArthur Boulevard, on what is now the 580 Freeway, the property was purchased at auction from the State of California. A stipulation of the sale required the building to be moved from the forthcoming freeway right of way. The owner, who also possessed the vacant lot where the building is currently located, moved the building around 1960-1961. The property has a total size of 11123 square feet.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$447.1k	$40.20
− Vacancy	−$20.1k	−$1.81
EGI	$427.0k	$38.39
− OpEx	−$192.2k	−$17.28
NOI	$234.9k	$21.12

11,123 SF · lease $40.20/SF/yr · vacancy 4.50% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$3.36M

$2.94M – $3.91M (±1% cap)

NOI $234,863 @ 7.0% cap · market cap 8.77%

Second Best

—

no second resolved use

Theoretical Best

Multifamily LT 5

$3.64M

$3.19M – $4.25M (±1% cap)

NOI $254,914 @ 7.0% cap · market cap 9.52%

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

Location Intelligence

Current Use by Public Records

Apartment buildings

Map

City: Oakland
County: Alameda
State: California
Longitude: -122.267
Latitude: 37.8222

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For sale
Apartment buildings
CA
Oakland
94602
33rd Street

What type of property is this?

Apartment building - Oakland multifamily property featuring 18 units with historical significance.

Where is this apartment building located?

The property is located at 33rd Street Oakland, CA.

What is the asking price?

The asking price for this property is $2,678,000.

What are key features of this property?

This property features: 18 Units Total: Offers a substantial investment opportunity.; Mix of Unit Types: Includes 6 one‑bedroom and 12 studio apartments.; Year Built: Constructed in 1938, indicating potential for historical charm.