2231 E 28th St
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2231 E 28th St
4 Unit Apartment Building $1,428,000 ($357,000/Unit) 6.52% Cap Rate Oakland, CA 94606
INVESTMENT HIGHLIGHTS
- Immaculate Turnkey 4-Plex in Oakland: Completely renovated 2-bedroom, 1-bath units with modern amenities
- Great proximity to highways, public transit, parks, schools, and shopping
- Property delivered 100% vacant
- Secured garage parking, ample outdoor space with brand new pergola, on-site laundry, and private rear entrances
EXECUTIVE SUMMARY
Discover 2231 E 28th St, a fully renovated and VACANT fourplex in Oakland’s Highland Terrace neighborhood. Built-in 1951, this freshly updated property features four (4) 2-bedroom, 1-bathroom units, each designed with modern finishes. The kitchens boast quartz countertops, sleek cabinetry, and brand-new appliances, while the bathrooms include updated vanities, showers/tubs, and contemporary tile flooring.
The bright and spacious interiors are enhanced with new windows, updated flooring, and fresh paint inside and out. Additional property upgrades include permitted 100-amp electrical panels for all units, an on-site laundry room, and a detached garage with secured spaces. The outdoor space is equally impressive, featuring a new pergola, ample open areas, and private rear entrances leading to a shared courtyard.
With preliminary permits for up to two ADUs, this property presents an excellent opportunity for additional income. Ideally located in a peaceful residential setting, it offers scenic views and convenient access to highways, public transit, parks, schools, and shopping. With strong rental demand and long-term appreciation potential, 2231 E 28th St is a turnkey investment opportunity ready to generate immediate returns.
The bright and spacious interiors are enhanced with new windows, updated flooring, and fresh paint inside and out. Additional property upgrades include permitted 100-amp electrical panels for all units, an on-site laundry room, and a detached garage with secured spaces. The outdoor space is equally impressive, featuring a new pergola, ample open areas, and private rear entrances leading to a shared courtyard.
With preliminary permits for up to two ADUs, this property presents an excellent opportunity for additional income. Ideally located in a peaceful residential setting, it offers scenic views and convenient access to highways, public transit, parks, schools, and shopping. With strong rental demand and long-term appreciation potential, 2231 E 28th St is a turnkey investment opportunity ready to generate immediate returns.
PROPERTY FACTS
| Price | $1,428,000 | Property Subtype | Apartment |
| Price Per Unit | $357,000 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 3,340 SF |
| Cap Rate | 6.52% | Average Occupancy | 0% |
| Gross Rent Multiplier | 11.02 | No. Stories | 2 |
| No. Units | 4 | Year Built/Renovated | 1951/2024 |
| Property Type | Multifamily |
| Price | $1,428,000 |
| Price Per Unit | $357,000 |
| Sale Type | Investment |
| Cap Rate | 6.52% |
| Gross Rent Multiplier | 11.02 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Lot Size | 0.16 AC |
| Building Size | 3,340 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built/Renovated | 1951/2024 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | - | 810 - 920 |
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Walk Score®
Very Walkable (75)
PROPERTY TAXES
| Parcel Number | 026-0786-002-00 | Improvements Assessment | $661,500 |
| Land Assessment | $283,500 | Total Assessment | $945,000 |
PROPERTY TAXES
Parcel Number
026-0786-002-00
Land Assessment
$283,500
Improvements Assessment
$661,500
Total Assessment
$945,000
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2231 E 28th St
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