2275 Park Blvd, Oakland, CA for sale

Investment Overview

2275 Park Blvd is a 10-unit, 6,543 SF apartment building at the corner of Park Boulevard and 5th Avenue in Oakland's Cleveland Heights neighborhood, a few blocks up from Lake Merritt. Built in 1953, the building carries two 2BR/1BA units and eight 1BR/1BAs over garage parking, with hardwood floors and updated finishes in recently turned units. Nine of ten units are occupied, the vacant unit is ready to lease at market, and in-place rents sit roughly 10% below market — a clean mark-to-market story that requires no repositioning. Scheduled income supports a 6.5% going-in cap rate, moving to 7.7% at market rents.

Investment Highlights

• Turnkey interiors — hardwood and tile floors, granite counters, updated finishes throughout
• In-place rents sit below market, leaving immediate upside for a new owner without repositioning the asset
• Steps from Lake Merritt, the Parkway District's dining and coffee scene, neighborhood schools and supermarkets
• Multiple transit lines within walking distance, connecting tenants to downtown Oakland, San Francisco, and the greater East Bay