About 2246 23rd Ave
Fully occupied seven-unit multifamily asset in Oakland's Highland Terrace neighborhood. $1,300,000 ($185,714/unit, $275/SF). 5.46% current cap rate vs. 7.41% at market rents, with 20.4% rental upside and 35.6% NOI growth potential with no capital spend. Recent capital improvements include upgraded plumbing, electrical, windows, and roof. Located under 1 mile from Highland Hospital and roughly 1.6 miles from Fruitvale BART, with direct access to I-880. In-place NOI: $70,803. Market NOI: $96,095. The 2 live/work style units are not permitted.
Features of 2246 23rd Ave
| MLS® # | 41144736 |
|---|---|
| Price | $1,300,000 |
| Square Footage | 4,715 |
| Acres | 0.07 |
| Year Built | 1926 |
| Type | COMM RI MULTI-UNITS 5+ |
| Sub-Type | Multi Family |
| Status | Active |
Community Information
| Address | 2246 23rd Ave |
|---|---|
| Subdivision | HIGHLAND TERRACE |
| City | Oakland |
| County | Alameda |
| State | CA |
| Zip Code | 94606 |
Amenities
| Parking | No Parking on Site |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Other |
|---|---|
| Cooling | Other |
| Fireplace | No |
Exterior
| Lot Description | Corner Lot |
|---|---|
| Construction | Stucco |
Additional Information
| Date Listed | August 12th, 2026 |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Joseph Owens |
|---|---|
| Office | Marcus & Millichap |