3800 Greenwood Ave
4 Unit Apartment Building Offered at $2,157,600 CAD at a 6.24% Cap Rate in Oakland, CA 94602
INVESTMENT HIGHLIGHTS
- Charming 4-plex between Trestle Glen and Glenview
- Mix of (2) 2BR/1BA units, and (2) 2BR/1.5BA units/ Perfect for build to suit owner user with gutted vacant unit with a spacious private backyard
- Units have individual water heaters and forced air Huge basement currently used for storage
- Property has (3) current vacant units and could potentially be delivered fully vacant
- Property has (3) garages and (2) uncovered parking / Partial horizontal and vertical copper repiping
- Potential to add ADU where existing 3 car garage is (Buyer to verify)
EXECUTIVE SUMMARY
The Glaser Group is pleased to present 3800 Greenwood Ave, a well-maintained fourplex adjacent to Trestle Glen and Glenview within Oakland, CA. This 4,088 square foot property, situated on a 6,970 square foot lot, has been under the same ownership for over 35 years. Built in 1916, it retains its original charm while offering modern improvements, including a new roof, separate water heaters, and partial copper repiping, and some updated units. The property consists of (3) two-bedroom, one-bath units and (1) two-bedroom, one-and-a-half-bath units, each over 1,000 square feet. The property currently has (3) vacant units and could potentially be delivered fully vacant. Additionally, it features three vacant garages and two uncovered parking spaces, creating added value and convenience.
Located just off Park Boulevard and adjacent to Piedmont, the property offers easy access to Lake Merritt, Montclair Village, and Grand Lake, ensuring strong rental demand and long-term appreciation. Beyond the existing income, the property also offers development potential. The garages present an opportunity to add 1-4 ADUs under SB 1211, providing additional rental income (buyer to verify), and the basement storage area offers flexibility for storage. For an owner-user, unit 2s kitchen and bathroom are down to the studs and presents the chance to redesign and build a dream home while still generating rental income to offset a mortgage. Whether for an investor or owner-user, this property represents a rare and valuable opportunity.
Located just off Park Boulevard and adjacent to Piedmont, the property offers easy access to Lake Merritt, Montclair Village, and Grand Lake, ensuring strong rental demand and long-term appreciation. Beyond the existing income, the property also offers development potential. The garages present an opportunity to add 1-4 ADUs under SB 1211, providing additional rental income (buyer to verify), and the basement storage area offers flexibility for storage. For an owner-user, unit 2s kitchen and bathroom are down to the studs and presents the chance to redesign and build a dream home while still generating rental income to offset a mortgage. Whether for an investor or owner-user, this property represents a rare and valuable opportunity.
PROPERTY FACTS
| Price | $2,157,600 CAD |
| Price Per Unit | $539,400 CAD |
| Sale Type | Investment |
| Cap Rate | 6.24% |
| Gross Rent Multiplier | 10.42 |
| No. Units | 4 |
| Property Type | Multifamily |
| Building Size | 4,088 SF |
| Average Occupancy | 75% |
| No. Stories | 2 |
| Year Built | 1916 |
| Parking Ratio | 1.22/1,000 SF |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 3 | - | - |
| 2+1.5 | 1 | - | - |
1 of 1
Walk Score®
Very Walkable (82)
PROPERTY TAXES
| Parcel Number | 024-0531-025-01 | Improvements Assessment | $633,269 CAD |
| Land Assessment | $232,932 CAD | Total Assessment | $866,201 CAD |
ZONING
| Zoning Code | RM-3 |
