2244 12th Avenue, Oakland, CA 94606-3148, USA

Property CA
, , , , , , , , , , ,
1

Property Overview:

2244 12th Ave is a well-maintained seven-unit apartment building located in a quiet neighborhood near Lake Merritt in Oakland, CA. All units are large 2-bedroom, 1-bath apartments, with three units recently renovated in the last three years. The property offers a turn-key investment with upside potential through light remodels in some units for higher rents.

Investment Highlights:

  • Current Cap Rate: 5.26% – 6%
  • Pro Forma Cap Rate: 7.18% – 8.5%
  • Current GRM: 10.18
  • Pro Forma GRM: 8.48
  • Additional Income:
    • 2-car garage
    • Small parking lot
    • Leased laundry room

Property Features:

  • Seven (7) large 2-bed/1-bath units
  • Three units recently renovated
  • Well-maintained with ongoing upgrades
  • City-required improvements completed:
    • Sewer lateral replacement
    • Fire inspection compliance
    • Sidewalk repairs
    • Soft story removal (pending city confirmation)
  • Parking lot and laundry room provide extra income
  • Modern, remodeled units:
    • New appliances (stove, refrigerator)
    • Pergo floors (no carpet)
    • Spotless bathrooms
  • Owner pays water and garbage (for some units)
  • No pets allowed (for rentals)

Location Benefits:

  • Clinton / Bella Vista neighborhood border
  • Proximity to Lake Merritt and local businesses
  • Easy access to Highways 580 & 880
    • Quick connections to San Francisco, Berkeley, and Silicon Valley
  • Quiet residential area with strong rental demand

Summary:

2244 12th Ave is a prime multifamily investment opportunity in Oakland, offering stable income, value-add potential, and a desirable location near Lake Merritt. The property is well-maintained, features recent upgrades, and provides additional income streams from parking and laundry. Contact agent for Offering Memorandum and private showings.

2

Price and Status History

date type price
1970-01-01 Off Market NaN
1981-01-16 Off Market 85000
2002-04-03 Sold 600000
2011-04-27 Sold 600000
2021-07-17 For Sale 1688000
2021-10-23 Sold 1630000
2021-10-25 Sold 1630000
2024-10-04 Rental 1888
2024-10-30 Rental 1888
2025-03-06 For Sale 1550000
3

Superfund Enterprise Management System

SITE NAME ADDRESS FEDERAL FACILITY NPL STATUS NON-NPL STATUS CONTAMINANTS SEMS EPA ID DISTANCE (MILES)
PORT OF OAKLAND Embarcadero MARINA SITE, Oakland, CA 94606, USA N N NF 0 CAD980638670 0.79
RYAN PAINTS 630 East 10th Street, Oakland, CA 94606-3605, USA N N RO 0 CAD981165582 0.87
LIQUID CARBONIC CORP 901 Embarcadero, Oakland, CA 94606-5120, USA N N NF 0 CAD009156662 0.99

Toxic Release Inventory

No data found within 1.0 miles for this property.

Integrated Compliance Information System - Air

No data found within 1.0 miles for this property.

4

Flood Risk Info

fld_zone very high impact: up to 0.0001 miles high impact: up to 0.2 miles moderate impact: up to 0.5 miles low-moderate impact: up to 1.5 miles
A 0 0 0 5
AE 0 0 0 3
AH 0 0 0 1
AO 0 0 0 3
VE 0 0 0 0

Flood Zone Type

code meaning
A 1% annual chance flood zone determined using approximate methods. No BFEs shown. Flood insurance and management standards apply.
AE 1% annual chance flood zone determined by detailed methods. BFEs shown. Insurance and floodplain management required.
AH Shallow flooding (ponding) zones with depths between 1-3 feet. BFEs shown. Insurance and management required.
AO Shallow flooding (sheet flow) zones with depths 1-3 feet. BFEs or average depths shown. High-velocity areas may exist.
VE Coastal 1% annual chance flood zone with wave action. BFEs shown. Insurance and management required.

Earthquake Risk Info

zone_name quad_name very high impact: up to 0.0001 miles high impact: up to 2.0 miles moderate impact: up to 10.0 miles
North Hayward Hayward 0 0 0
North Hayward Oakland East 0 0 0
North Hayward Oakland West 0 0 0
North Hayward Richmond 0 0 1
North Hayward San Leandro 0 0 0
South Hayward Hayward 0 0 1
South Hayward Oakland East 0 0 1
South Hayward Oakland West 0 0 1
South Hayward Richmond 0 0 0
South Hayward San Leandro 0 0 1

Landslide Risk Info

lscat very high impact: up to 0.0001 miles high impact: up to 0.04 miles moderate impact: up to 0.1 miles low-moderate impact: up to 0.2 miles
8 0 0 0 0

Liquefaction Risk Info

Suscept very high impact: up to 0.0001 miles high impact: up to 0.05 miles moderate impact: up to 0.5 miles low-moderate impact: up to 1.0 miles
High 0 0 0 0
Very high 0 0 0 1

Wild fire Risk Info

haz_class very high impact: up to 0.0001 miles high impact: up to 0.5 miles moderate impact: up to 1.5 miles low-moderate impact: up to 3.0 miles
High 0 0 0 0
Very High 0 0 0 1
5

Traffic Noise by Hour x Weekday

Not enough data points

6

Airplane Noise by Hour x Weekday

hour_of_day Monday Tuesday Wednesday Thursday Friday Saturday Sunday
0 1 1 1 1 1 1 2
1 1 1 1 1 1 1 2
2 1 2 2 2 3 3 1
3 1 2 1 1 1 1 1
4 1 1 1 1 1 1 1
5 1 1 1 1 2 1 1
6 1 3 3 3 2 3 2
7 4 5 6 6 6 3 2
8 4 4 5 3 3 4 4
9 4 3 4 4 6 5 4
10 4 6 4 4 5 6 6
11 6 7 7 6 8 7 6
12 7 6 6 6 8 6 6
13 7 7 9 8 10 9 9
14 7 9 8 9 8 10 8
15 5 7 7 8 7 7 6
16 6 7 7 9 7 4 7
17 5 7 7 9 7 5 6
18 7 5 6 7 6 3 5
19 6 6 8 7 7 6 5
20 4 5 4 4 4 3 3
21 4 4 3 4 4 3 4
22 2 2 2 3 2 2 1
23 3 2 3 3 2 2 3