550 Fairmount Ave AVE, Oakland, CA 94611 (MLS # 41148486)

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PRICE $2,295,000 dsIDX morgage calculator
BEDS 0
BATHS 0
HOME SIZE n/a
LOT SIZE 6,900 sqft
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550 Fairmount Ave presents the opportunity to acquire a 10-unit apartment community in Grand Lake, one of Oakland's most consistently in-demand rental neighborhoods. The three-story 1963 building comprises six 1BR/1BA and four 2BR/1BA units totaling 6,632 SF on a 6,900 SF lot, set over covered off-street parking with five spaces generating additional income. Eight of the ten units have been updated leaving a clear, low-capital path to completing the program. The investment case pairs dependable in-place revenue with incredible upside: scheduled income of $19,509 per month against market rents of $26,350, an approximately 35% gap rooted in tenancies dating to 2006. At $2,295,000, the offering trades at a 7.0% current CAP and 9.3 GRM, rising to a 10.1% CAP as units turn to market. Steps from the Grand Avenue and Lakeshore retail corridors, the Grand Lake Theatre, and Lake Merritt, with MacArthur BART one mile away and immediate I-580 access, putting downtown Oakland and San Francisco within easy reach. A rare Grand Lake value-add at $229,500 per unit.

DAYS ON MARKET 3 LAST UPDATED 9/16/2026
TRACT OAKLAND YEAR BUILT 1963
COUNTY Alameda STATUS Active
PROPERTY TYPE(S) Residential Income


ADDITIONAL DETAILS
AIR None
AIR CONDITIONING Yes
CONSTRUCTION Stucco
HEAT Baseboard
LOT 6900 sq ft
LOT DESCRIPTION Corner Lot
LOT DIMENSIONS 6900
SUBDIVISION OAKLAND
MORTGAGE CALCULATOR
   

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