$2,295,000
 $12,320 est/mo Sourced by Back At You

550 Fairmount Ave,Oakland, CA 94611

Oakland, CA 94611

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Description

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.

Details

MLS #41148486
Listing TypeFor Sale
Sub-TypeResale
StatusPending
Year1963
Days On Site52
Listing Provided ByCOMPASS | Willem Bos

Features

Units10
Acreage0.16

Interior

CoolingNone
HeatingBaseboard
Heating Yes / NoYes
Cooling Yes / NoYes

Exterior

Construction MaterialsStucco
Lot FeaturesCorner Lot

Area Information

StateCA
CountyAlameda
CityOakland
Zip Code94611
Community NameOAKLAND
Listing VS Median (in OAKLAND)
Price:
$2,295,000
low | high
Med:
$499,000
100% of Average
On site:
52
low | high
Med:
13.5
100% of Average
Sourced by Back At You

Market Activity 94611

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Contact

Learn More About This Property

Bruce Hatrak

Bruce Hatrak

Desert Lifestyle Properties

02054055 (760) 516-1741bmhatrak@gmail.com
StateCA
CountyAlameda
CityOakland
Zip Code94611
Community NameOAKLAND
Listing VS Median (in OAKLAND)
Price:
$2,295,000
low | high
Med:
$499,000
100% of Average
On site:
52
low | high
Med:
13.5
100% of Average
Sourced by Back At You
Nearby Listings (Within 1/2 mile)
Price: $1.721M - $2.868M
sqft: 0 - 0
Nearby Listings Property ImageNearby Listings Details
430 Vernon Street Property Photo 1
$2,200,000
430 Vernon Street
Oakland, CA 94610
Listing Updated: October 2, 2026 at 2:08:49 PM PDT