- For Sale $2,098,000
- Property Type Multi-Family
- Property Size 6,543 SF
- Units 10
- Lot Size 0.16 Acre
- Building Class C
- Year Built 1953
- Date Updated Sep 3, 2026
Description
Cleveland Heights sits on the east side of Lake Merritt, with the Park Boulevard corridor's cafes and restaurants at the doorstep and the Grand Lake and Lakeshore shopping districts minutes away. Transit along Park Boulevard and quick access to I-580 put downtown Oakland and San Francisco within an easy commute for tenants.2275 Park Blvd is a 10-unit, 6,543 SF apartment building at the corner of Park Boulevard and 5th Avenue in Oakland's Cleveland Heights neighborhood, a few blocks up from Lake Merritt. Built in 1953, the building carries two 2BR/1BA units and eight 1BR/1BAs over garage parking, with hardwood floors and updated finishes in recently turned units. Nine of ten units are occupied, the vacant unit is ready to lease at market, and in-place rents sit roughly 10% below market — a clean mark-to-market story that requires no repositioning. Scheduled income supports a 6.5% going-in cap rate, moving to 7.7% at market rents.
Highlights
- In-place rents sit below market, leaving immediate upside for a new owner without repositioning the asset
- Multiple transit lines within walking distance, connecting tenants to downtown Oakland, San Francisco, and the greater East Bay
- Steps from Lake Merritt, the Parkway District's dining and coffee scene, neighborhood schools and supermarkets
- Turnkey interiors hardwood and tile floors, granite counters, updated finishes throughout
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Contacts
James Kilpatrick
NAI Northern California
Location
Located at 2275 Park Blvd, Oakland, CA 94606, this property is part of the Cleveland Heights neighborhood and Bay Area market.
Contact Listing Broker
James Kilpatrick
NAI Northern California
