Multifamily Property for Sale in Oakland, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Oakland, CA 94610

Description

This offering of twenty-four units at 369 Palm Avenue, Oakland, CA represents a rare opportunity to acquire a well-located and attractive multifamily property in the Adams Point neighborhood of Oakland, CA. The current owner has owned the property for several decades and meticulously maintained the property with many interior and exterior capital improvements. The property is constructed of wood frame and stucco siding with enclosed ground floor parking (earthquake retrofit complete), on-site laundry, and a security entrance. The majority of units have been renovated upon turnover, and the superior unit mix consists of twelve one-bed/one-bath, nine two-bed/one-bath, and three two-bed/two-bath units, with select units have large private balconies (SB-721 inspection complete). The property is separately metered for gas and electricity allowing for stable consist expenses for the owner. Tenants benefit from great walkability, with a Walk-Score of 91 (Walkers Paradise). Nearby public transport, or short walk allow easy access to Whole Foods, Grand Lake, BART, and the shoreline of Lake Merritt. The building’s ideal location positions it to benefit from Oakland’s rebound and provide tenants with easy access to Downtown Oakland and San Francisco’s primary employment centers. The huge AI boom in San Francisco is starting to provide spillover to Oakland as jobs and rents have stabilized and strengthened. Investment Highlights: • Superior location walking distance to Whole Foods, Downtown Oakland, BART, Lake Merritt, and Grand Lake. • Strong unit mix of twelve one-bed/one-bath, nine two-bed/one-bath, & three two-bed/two-bath. • Below market rents with immediate upside upon tenant turnover. • Gated entryway, secured parking, and on-site laundry. • Surrounded by bars, restaurants, and entertainment including Fox Theater, Paramount Theater, and Grand Lake Theater.

Market Context

This multifamily in Oakland, CA is listed for sale. It is offered at an approximate 6.0% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 68 days. Compare it against other multifamily listings for sale in Oakland, CA — <a href="/search/sale/multifamily/california/oakland">view the full market</a>.

As of Q1 2026, the Oakland / East Bay multifamily market showed cap rates around 4.9%. Source: Consensus Q1 2026 market report.

Its 6.0% asking cap rate is above the Oakland / East Bay multifamily market average of about 4.9%, implying a higher yield (and typically more risk or upside) than comparable assets.

Multifamily market FAQ

What is the typical cap rate for multifamily in Oakland / East Bay?
About 4.9% as of Q1 2026, per Consensus.

Contact

Explore this market

Similar Multifamily Property for Sale in Oakland, CA