25-Unit Elevator Apartment
For Sale
$6,995,000
Lee, Oakland, CA 94610
ResidentialIncome, Oakland, CA
Property Size18,720 SF
Lot Size0.20 Acres
Price / SF$373.66
Days on Market10
Property Features for Lee
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-80
Parking features
Assigned
Elementary school
OaklandUnified
High school
OaklandUnified
Elementary school district
OaklandUnified
High school district
OaklandUnified
Subdivision
OaklandZipCode94610
Standard status
Active
APN
010-0773-008
Size
18,720 SF
Lot size
0.20 Acres
Amenities
coin-operated laundry
Building Details
Year built
1964
Listing Agency:
KW Advisors · Keller Williams Realty
(650) 627-3700
Listed By:
Alina Siert · License #01893238
(408) 712-7692
Added: Oct 12
Changed: Oct 21
Last Checked: Oct 21 at 9:06AM
MLS# ML82064394
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 25-unit apartment property is an elevator building constructed in 1964, with approximately 18,720 square feet. The unit mix includes 18 one-bedroom apartments and seven two-bedroom apartments, including a penthouse with two bedrooms and two bathrooms. About 80% of the units have been renovated. Building features include a poured-in-place concrete garage and coin-operated laundry. The sewer lateral has EBMUD certification through 2029, and the property is zoned R-80.
In Oakland’s Adams Point area, the building is about 0.3 mi from the Lake Merritt shoreline and Children’s Fairyland, and 0.2 mi from Whole Foods. Grand Avenue and the Grand Lake Theatre are nearby; 19th Street BART is about 0.7 mi away, with quick access to I-580. Current capitalization is 5.64%, compared with 5.68% pro forma. Market rents are about 11% above in-place rents.
In Oakland’s Adams Point area, the building is about 0.3 mi from the Lake Merritt shoreline and Children’s Fairyland, and 0.2 mi from Whole Foods. Grand Avenue and the Grand Lake Theatre are nearby; 19th Street BART is about 0.7 mi away, with quick access to I-580. Current capitalization is 5.64%, compared with 5.68% pro forma. Market rents are about 11% above in-place rents.
Key Highlights
- 25 apartments in an elevator building with approximately 18,720 square feet
- Unit mix: 18 one‑bedrooms and 7 two‑bedrooms, including a two‑bedroom, two‑bath penthouse
- About 80% of units renovated; coin‑operated laundry on site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$395,274
Cap Rate
5.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,905,480
$7.9M
Cap Rate 7%
$5,646,771
$5.6M
Cap Rate 9%
$4,391,933
$4.4M
Market Conditions
NOI Build-Up for 18,720 SF
Gross rent
$752.5K $40.20/SF
− Vacancy
−$33.9K −$1.81/SF
EGI
$718.7K $38.39/SF
− OpEx
−$323.4K −$17.28/SF
NOI
$395.3K $21.12/SF
Area
Oakland, CA
Vacancy
4.50%
Lease Rate
$40.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,905,480
Cap Rate 7%
$5,646,771
Cap Rate 9%
$4,391,933
Alternative Uses
Best Use
Apartment 5plus
$5.65M
$4.94M – $6.59M
NOI $395,274 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$6.13M
$5.36M – $7.15M
NOI $429,021 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
25
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,928
Businesses Nearby
Explore this area
Business Placement
Demographics for 94610, CA
31,261
Population
17,926
Households
1.7
Avg Household Size
39
Median Age
73%
College-Educated
96%
High-School Grad
2.1 sq mi
ZIP Area
14,886
Density / Sq Mi
$130,435
Median Household Income
$90,577
Median Earnings
$2,184
Median Rent
$1,324,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Residents have access to coin-operated laundry, and approximately 80% of the apartments have been renovated.
Where is this apartment building located?
The property is located at Lee Oakland, CA.
What is the asking price?
The asking price for this property is $6,995,000.
What are key features of this property?
This property features: 25 apartments in an elevator building with approximately 18,720 square feet; Unit mix: 18 one‑bedrooms and 7 two‑bedrooms, including a two‑bedroom, two‑bath penthouse; About 80% of units renovated; coin‑operated laundry on site
