822 56Th StEmeryville, CA 94608

Property Details for 822 56Th St

Year built

1912

Construction

WOOD

Lot size

0.09 AC

Property size (Sq ft)

3,092 SF

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

15-1283-7

APU

1512837

Description

This exceptional six-unit apartment building, located at 822 56th Street in Oakland, California, presents a compelling investment opportunity. Built in 1912, the property boasts classic architectural appeal and has undergone significant capital improvements. The building comprises 3,092 square feet on a 4,000 square foot lot, and features a desirable unit mix: five studios and one spacious two-bedroom, one-bathroom unit with a private washer and dryer. The thoughtful layout places the larger unit and one studio on the ground floor, with the remaining studios on the second floor. Recent upgrades include a freshly painted staircase, repaired and replaced side shingles, updated landscaping, and partial electrical wiring updates. Several windows, kitchen countertops, flooring, and water heaters have also been replaced. Situated on a quiet, tree-lined street in North Oakland, this property enjoys a prime location near Berkeley and the Temescal district, with easy access to Highways 24 and 580. Its proximity to public transportation, local amenities, and essential services makes it highly attractive to renters. The property is zoned RM-2 and offers a strong net operating income (NOI) of $58,358, resulting in a 5.56% cap rate and a 10.66 GRM. Priced at $1,050,000 ($175,000 per unit), this multifamily investment presents a rare combination of historical charm, modern updates, and a strong rental market. The property's location and unit mix ensure consistent rental demand, making it an ideal investment for both owner-users and passive investors.

• CAP approach

  CAP return

  Valuation

  6%

  $1,027,912

  6.5%

  $948,842

  7%

  $881,068

• Comparable approach

  Method

  Valuation

  Relative Method

  $912,256

  Geo Method

  $1,336,704

• Alternative Use

  Use

  Valuation

  Residential

  $948,842

  Hospitality

  $869,134

  Educational

  $723,110

  Medical

  $747,978

  Retail

  $1,124,837

Location Insight

City

Oakland

County

Alameda

State

California

Latitude

37.8408

Longitude

-122.271

CBSA code

41860

CBSA name

SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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