New Multifamily Asset in
603 22nd St Oakland, CA 94612
603 22nd St, Oakland, CA, 94612
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For Sale
Contact for pricing
Turn-key, new construction 9-unit multifamily property in Oakland.
Property Size6,150 SF
Price / SF$414.63
Days on Market66
Property Features for 603 22nd St
General Information
- Standard status
- Active
- Size
- 6,150 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2021
Listing Agency
NAI Northern California - HQ
(415) 246-4314
Listed by
Grant Chappell · License #CA 01700439
Source
Crexi
Added: May 14 Checked: Jul 15 at 9:05 pm
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 NAI Northern California - HQ
Investment Insights
Based on property information with market context.
This is a rare opportunity to acquire a turn-key, brand-new construction 9-unit multifamily asset in Oakland. Completed in early 2021, the property was constructed with quality and has been fully rented since day one. The property offers the benefits of institutional-grade new construction with the flexibility to optimize rents. With zero vacancy and minimal capital needs, this property is suited for a buyer seeking stability and growth. Located at 603 22nd Street, the property is situated in Oakland's uptown neighborhood, minutes from Downtown Oakland and Jack London Square. This walkable, transit-oriented location offers access to BART, AC Transit, and major thoroughfares connecting to Berkeley and San Francisco. Surrounded by cafes, markets, and neighborhood amenities, the property attracts professionals seeking urban convenience and modern living. The area experiences rental demand and growth, making it one of Oakland's multifamily submarkets. The property size is 6,150 square feet.
Key Highlights
- Brand‑new construction (2021) 9‑unit multifamily asset in Oakland.
- Fully rented since day one with zero vacancy.
- Located in Oakland's vibrant uptown neighborhood, near Downtown Oakland and Jack London Square.
Local Financial Insights For Apartment 5plus
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 | $247.2k | $40.20 |
| − Vacancy | −$11.1k | −$1.81 |
| EGI | $236.1k | $38.39 |
| − OpEx | −$106.2k | −$17.28 |
| NOI | $129.9k | $21.12 |
6,150 SF · lease $40.20/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.86M
$1.62M – $2.16M
NOI $129,858 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.01M
$1.76M – $2.35M
NOI $140,944 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Turn-key, new construction 9-unit multifamily property in Oakland.
Where is this apartment building located?
The property is located at 603 22nd St Oakland, CA.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: Brand‑new construction (2021) 9‑unit multifamily asset in Oakland.; Fully rented since day one with zero vacancy.; Located in Oakland's vibrant uptown neighborhood, near Downtown Oakland and Jack London Square.
