Vanguard is proud to exclusively represent the sale of 2327-2329 San Pablo Avenue, a 23-unit building comprising 22 single-room occupancy residential units and one ground-floor commercial suite. This three-story, 7,140-square-foot asset was built in 1895 and has been expertly maintained. Delivered vacant, this rare opportunity is prime for investment or use by an owner or a nonprofit group.

Numerous recent renovations make this a truly turnkey investment with limited going-in expenses for a new owner. Exterior upgrades include new paint, new dual-pane windows, new roof coating, and significant structural stabilization in rear and ground-floor retail units. The interiors boast seven remodeled bathrooms, new copper piping with pressure relief valves, new doors with keyless lock hardware, LED lighting, new heaters, and CAT6 and coaxial data lines to all units. The fire safety system was also enhanced, and the building is fully sprinklered to increase safety and reduce insurance costs.

2327-2329 San Pablo Avenue enjoys exceptional placement that draws tenants and customers with a highly visible location near the region’s busiest commuter arteries. The West Oakland location offers access to public transportation, the 980, 580, and 880 Freeways, and the Bay Area Transit System (BART). It has a WalkScore of 94 and easy access to Uptown, Lake Merritt, and the attractions of Broadway and Telegraph Avenue. These popular hubs are home to dozens of local shops, top-rated restaurants, and vibrant nightlife. Placed within a designated Opportunity Zone, the offer provides astute investors with additional investment or redevelopment opportunities.

The surrounding Downtown Oakland sub-market has emerged as a resilient and coveted residential hub in recent years. The area provides a significant draw for those seeking an urban alternative to pricey Bay Area counterparts like San Francisco and San Jose. Within 3 miles of the property, approximately 70% of the more than 254,000 residents currently rent their homes. Absorption for 2024 is expected to total around 800 units, approximately double that of 2023. With vacancy rates reducing and the construction pipeline slowing, there is a positive outlook for rent growth in the coming years.

Invest in the future of Oakland’s downtown core with the value-add residential and commercial units at 2327-2329 San Pablo Avenue.