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Adams Point Multifamily Investment

400 Lagunitas, Oakland, CA 94610

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For Sale

$1,325,000

Value-add multifamily property in desirable Adams Point neighborhood.

Type:Commercial

Property size:

5,081 SF

Price / SF:

$260/SF

HighLights

High‑performing multifamily asset with a current 7.62% cap rate.
Significant upside potential through further unit renovations and ADU development.
Located in the desirable Adams Point neighborhood near Lake Merritt and Uptown Oakland.
Strong cash flow and future returns with a 9.5% market cap.
Mix of already renovated units.
Convenient access to major retailers like Trader Joe’s and Whole Foods.

We can help!

Listing Contact

BLAKE MARTINI

For Sale

$1,325,000

Value-add multifamily property in desirable Adams Point neighborhood.

Type:Commercial

Property size:

5,081 SF

Price / SF:

$260/SF

Added:: Sep 11, 2025
Days on Market:: 280
Last Refresh:: Apr 5 at 8:32 pm

Property Features for 400 Lagunitas

General Information

Standard status: Active
Size: 5,081 SF
Property subtype: Commercial

Building Details

Year Built: 1915

We can help!

Listing Contact

BLAKE MARTINI

Listing agent BLAKE MARTINI

Listing office MARTINI COMPANY REAL ESTATE

Listing date Sep 11, 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 MARTINI COMPANY REAL ESTATE

HighLights

High‑performing multifamily asset with a current 7.62% cap rate.
Significant upside potential through further unit renovations and ADU development.
Located in the desirable Adams Point neighborhood near Lake Merritt and Uptown Oakland.
Strong cash flow and future returns with a 9.5% market cap.
Mix of already renovated units.
Convenient access to major retailers like Trader Joe’s and Whole Foods.

Overview

This 8-unit converted mansion in Adams Point presents a value-add opportunity. The property includes a mix of renovated units with potential for further improvements and additional dwelling units. The property is ideally located near Lake Merritt, Uptown, and major retailers such as Trader Joe’s and Whole Foods. The building has a property size of 5081 square feet and is located in Oakland, CA.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$204.3k	$40.20
− Vacancy	−$9.2k	−$1.81
EGI	$195.1k	$38.39
− OpEx	−$87.8k	−$17.28
NOI	$107.3k	$21.12

5,081 SF · lease $40.20/SF/yr · vacancy 4.50% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$1.53M

$1.34M – $1.79M (±1% cap)

NOI $107,286 @ 7.0% cap · market cap 8.10%

Second Best

—

no second resolved use

Theoretical Best

Multifamily LT 5

$1.66M

$1.46M – $1.94M (±1% cap)

NOI $116,445 @ 7.0% cap · market cap 8.79%

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

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Oakland
County: Alameda
State: California
Longitude: -122.2511854
Latitude: 37.8099813

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For sale
Apartment buildings
CA
Oakland
94610
400 Lagunitas

What type of property is this?

Apartment building - Value-add multifamily property in desirable Adams Point neighborhood.

Where is this apartment building located?

The property is located at 400 Lagunitas Oakland, CA.

What is the asking price?

The asking price for this property is $1,325,000.

What are key features of this property?

This property features: High‑performing multifamily asset with a current 7.62% cap rate.; Significant upside potential through further unit renovations and ADU development.; Located in the desirable Adams Point neighborhood near Lake Merritt and Uptown Oakland.