6 Units | Oakland

North Oakland is a dynamic and rapidly evolving neighborhood, making it an attractive market for real estate investors, particularly those focused on apartment buildings. The area offers a unique blend of urban vibrancy and suburban charm, with its proximity to downtown Oakland and Berkeley, as well as easy access to San Francisco via BART. This connectivity makes North Oakland a prime location for tenants seeking a balance between work and leisure, contributing to consistent demand for rental properties. Investors can tap into the area's growing popularity among young professionals and families, ensuring stable occupancy rates. One of North Oakland’s key advantages is its mix of architectural styles, from charming older buildings with character to newer, modern developments. This variety offers a range of investment opportunities, from value-add projects to high-end, luxury apartment buildings. With many properties ripe for renovation or redevelopment, savvy investors can leverage the area's upward momentum to increase property values and rental income. As more tech companies and startups expand in the East Bay, the demand for quality housing continues to rise, positioning North Oakland as a lucrative market. Moreover, North Oakland’s community-driven atmosphere and vibrant cultural scene add to its appeal. The neighborhood is home to a range of local businesses, cafes, and restaurants that attract a diverse demographic of residents. Additionally, ongoing improvements to public infrastructure and parks enhance the area's livability, further boosting its desirability as a residential destination. For real estate investors, these factors translate to long-term growth potential and opportunities for high returns on multifamily properties in a market that shows no signs of slowing down. Scores Walk Score - 90 Transit Score - 62 Bike Score - 100822 56th Street offers a highly desirable unit mix, featuring five charming studios and a spacious 2-bedroom, 1-bath unit with a private washer and dryer. The thoughtful layout includes the 2-bedroom apartment and one studio on the ground floor, while four additional studios occupy the second floor. Built in 1912, the building retains its classic architectural appeal, showcasing timeless charm and character that resonates with both residents and investors. Located on a quiet, tree-lined street in North Oakland, the property benefits from a prime location close to Berkeley and the vibrant Temescal district, with easy access to Highways 24 and 580. Tenants will appreciate the convenience of being within walking distance of public transportation, local coffee shops, and essential services. This combination of peaceful surroundings and nearby amenities makes it an ideal choice for renters seeking both comfort and practicality. In addition to its attractive location and unit mix, the property has undergone extensive capital improvements. Recent upgrades include a freshly painted staircase, repaired and replaced side shingles, updated landscaping, and partial updates to electrical wiring. Some windows, kitchen countertops, flooring, and water heaters have also been replaced. Priced competitively at $175,000 per unit, with a 10.66 GRM and a 5.56% CAP rate, this property represents an excellent investment opportunity in a strong rental market.