635 E 15th Street
- Sold following an unsuccessful listing period with a previous brokerage
- Generated 3 Offers
- 9 Units in Oakland 5 Blocks from Lake Merritt: 8 (1BD/1BA) and 1 (2BD/2BA)
- Recent Capital Improvement: Seismic Retrofit (2025), New Sub-Panels (2024), Approximately 10 Year Old Roof
- Two Units Delivered Vacant: Immediate Market Rent Upside
- Off-Street Parking: Eight Garages Total with Three Vacant Offering Income Upside and ADU Potential (Buyer to Verify)
- Desirable Oakland Location: Near Lake Merritt, Downtown Oakland, and Jack London Square
- Transit and Demographics: Close to BART, Major Employment Hubs, and Dense Rental Base
Property Description
The Mitchell Warren Team is pleased to present the sale of 635 E 15th Street, a 9-unit multifamily property located in Oakland’s Clinton neighborhood. The 5,875 square foot building features a unit mix of eight (8) one-bedroom/one-bath units and one (1) two-bedroom/two-bath unit, offering strong in-place income with clear value-add potential. Two units will be delivered vacant, providing an immediate opportunity to achieve market rents, while existing rents remain below market, allowing for additional upside through natural turnover and improved management. The property also includes eight on-site garages, three of which are currently vacant, offering additional income potential. Investors may also explore the potential to convert garages into ADUs (buyer to verify with the city) to further enhance long-term returns.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,120,000 |
| No. of Units: | 9 |
| Lot Size: | 0.13 Acres |
| Opportunity Zone: | No |
| Price per unit: | $124,444 |
| Property Website | Click Here |
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