550 Fairmount Ave, Oakland, CA 94611

Oakland
Local realty services provided by:ERA Excel Realty
550 Fairmount Ave,Oakland, CA 94611
$2,295,000
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Pending
Listed by: willem bos
Office: compass415-660-9955
MLS#:41148486
Source:CRMLS

Price summary

  • Price:$2,295,000

About this home

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...

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Home facts

  • Year built:1963
  • Subdivision & Development:OAKLAND
  • Listing ID #:41148486
  • Added:57 day(s) ago
  • Updated:November 13, 2026 at 09:27 AM

Heating and cooling

  • Heating:Baseboard

Structure and exterior

  • Year built:1963
  • Lot area:0.16 Acres
  • Lot Features:Corner Lot
  • Construction Materials:Stucco

Finances and disclosures

  • Price:$2,295,000

Parking

  • Total parking spaces:10
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