1929
26th Avenue
Property Highlights
- Three-story building with attractive mosaic tile entry and custom iron perimeter fencing — a physical presence that sets the standard for the block
- Keyfob-secured entry gates, marble floor entry, and designer tiling on walls of hallways.
- Built-in secure package drop at the perimeter fence — a practical amenity that drives tenant retention
- All units feature luxury vinyl planking throughout, recessed lighting, ductless mini-split climate control, flat screen TVs and entertainment center.
- Kitchens finished with quartz or granite countertops, mosaic backsplash, modern cabinetry, newer high quality appliances, including dishwasher.
- Bathrooms finished with floor-to-ceiling wood-grain tile, frameless glass shower enclosures, rain head fixtures, floating vanities, and designer fixtures throughout.
- 22 of 23 units improved — representing the highest current Cap Rate in the portfolio.
Explore 1929 26th Avenue
Exterior
Renovated Interiors
Kitchen
Bathroom
Amenities
Summary & Financial Overview
Investment Summary
1929 26th Avenue is a proof of concept for the Excedente operating model: extensively improved apartments producing premium rents from an established rental operation. Offered at $5.5M, the property includes 23 apartments, comprising five studios and eighteen one-bedroom units. The exterior, common areas, and infrastructure have been extensively renovated, and 22 of the 23 apartments have been upgraded to luxury level.
The property offers the highest current cap rate in the Excedente portfolio. Its achieved rents demonstrate the strength of the improvements: multiple 450-square-foot apartments rent for $1,795 per month, approximately $1,800, with other occupied 450-square-foot units at $1,845. Alongside 1921 26th Avenue, this building demonstrates that the model can produce premium rental income from compact, extensively upgraded residences.
The major building improvements are complete. A buyer can take over the established operation and continue collecting rent, with the renovation opportunity limited to one remaining apartment rather than a broad building renovation. Unit 15 is the sole unimproved unit, with scheduled current rent of $1,084.93 per month, a modeled market rent of $1,845, and an estimated $30,000 upgrade budget. The supplied rent schedule totals $42,574.93 per month, including $1,000 in laundry income.
Annual expenses total $129,340. At the modeled market rent of $44,085 per month, annual income less the listed expenses is $399,680. Against the $5.5M asking price plus the $30,000 upgrade budget, this equates to approximately a 7.2% fully improved cap rate. The investment is an established income-producing operation with a demonstrated luxury upgrade model and a defined, limited remaining renovation opportunity. Stable income. Model proven.
Rent Summary
| Unit | Status | Type | Size (SF) | Current Rents (Monthly) |
Market Rent | Cost to Upgrade | Coupon Payment ROI | Fully Improved Cap Rate |
|---|---|---|---|---|---|---|---|---|
| 1 | Rented | Studio | 450 | $1,795.00 | $1,845.00 | Upgraded | ||
| 2 | Rented | 1BD | 650 | $1,995.00 | $1,995.00 | Upgraded | ||
| 3 | Rented | 1BD | 450 | $1,795.00 | $1,845.00 | Upgraded | ||
| 4 | Rented | 1BD | 650 | $2,195.00 | $2,195.00 | Upgraded | ||
| 5 | Rented | 1BD | 450 | $1,795.00 | $1,845.00 | Upgraded | ||
| 6 | Rented | 1BD | 650 | $1,995.00 | $1,995.00 | Upgraded | ||
| 7 | Vacant | 1BD | 450 | $1,895.00 | $1,895.00 | Upgraded | ||
| 8 | Rented | Studio | 450 | $1,795.00 | $1,845.00 | Upgraded | ||
| 9 | Vacant | Studio | 450 | $1,795.00 | $1,795.00 | Upgraded | ||
| 10 | Rented | 1BD | 450 | $1,845.00 | $1,845.00 | Upgraded | ||
| 11 | Rented | 1BD | 450 | $1,795.00 | $1,845.00 | Upgraded | ||
| 12 | Rented | 1BD | 450 | $1,795.00 | $1,845.00 | Upgraded | ||
| 14 | Rented | 1BD | 450 | $1,795.00 | $1,845.00 | Upgraded | ||
| 15 | Rented | 1BD | 450 | $1,084.93 | $1,845.00 | $30,000 | 30% | |
| 16 | Vacant | 1BD | 450 | $1,795.00 | $1,845.00 | Upgraded | ||
| 17 | Rented | Studio | 450 | $1,795.00 | $1,845.00 | Upgraded | ||
| 18 | Vacant | Studio | 450 | $1,795.00 | $1,845.00 | Upgraded | ||
| 19 | Rented | 1BD | 450 | $1,795.00 | $1,845.00 | Upgraded | ||
| 20 | Rented | 1BD | 450 | $1,795.00 | $1,845.00 | Upgraded | ||
| 21 | Rented | 1BD | 450 | $1,795.00 | $1,845.00 | Upgraded | ||
| 22 | Rented | 1BD | 450 | $1,795.00 | $1,845.00 | Upgraded | ||
| 23 | Rented | 1BD | 450 | $1,845.00 | $1,845.00 | Upgraded | ||
| 24 | Rented | 1BD | 450 | $1,795.00 | $1,845.00 | Upgraded | ||
| Laundry | $1000.00 | $1000.00 | ||||||
| TOTALS | $42,574.93 | $44,085.00 | $30,000 | 7.2% | ||||
Rent schedule note: Units 7, 9, 16, and 18 are marked vacant. Their listed monthly rents are included in the supplied $42,574.93 total; this total therefore does not represent rent currently collected from occupied units alone. Market rents and the fully improved cap rate are projections.
Property Snapshot
18 x 1BD
Expense Summary (Annual)
| Expense | Annual Amount |
|---|---|
| Real Estate Tax (1.37%) | $75,350 |
| Yearly Rent Adjustment Board Fees | $690 |
| Insurance | $9,500 |
| Water & Sewer | $10,300 |
| Waste Management | $16,000 |
| Superintendent | $5,000 |
| Business License | $2,500 |
| PG&E | $10,000 |
| Total Annual Expenses | $129,340 |
Oakland Market
Oakland's challenges are not a secret. Any investor who has spent time in the Bay Area knows the city's reputation — and some of it is earned. What is less understood is that those same conditions created the environment in which this portfolio was built. This owner did not find premium rents in Oakland because the market handed them to him. He built the product, applied the discipline, and extracted returns that the surrounding market can not explain.
And now the market is beginning to move. In August 2026, Jeff Bezos' AI startup Project Prometheus signed a lease for 100,000 square feet in West Oakland. Tesla followed with 40,000 square feet at the same campus. Behring Capital announced plans for an AI data center in downtown Oakland, anchoring a 1.3-million-square-foot innovation campus on Broadway. These are not speculative bets. These are committed capital decisions by operators who do not make casual moves.
Across the Bay, San Francisco apartment rents rose 14% in four months. The AI workforce driving that surge needs somewhere to live that is not $5,000 a month for a one-bedroom. Oakland is 20 minutes from downtown San Francisco by BART. It always has been. What is different today is the employers are now coming to Oakland.
Oakland's Director of Economic Development put it plainly: when San Francisco booms, Oakland follows. There is always a lag. The question for an investor is not whether Oakland will benefit from the AI economy reshaping the Bay Area. The question is whether you want to be positioned before that lag closes — or after.
The Excedente Portfolio is already there. The product is built. The rents are proven. The remaining upside is documented and executable. The timing has met the preparation for a golden opportunity.
Let’s Start the Conversation
Scott Piper
Disclaimer: This Offering Memorandum has been prepared for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy. Information contained herein is subject to change and may contain errors or omissions. Prospective purchasers should conduct their own independent investigation and rely solely on their own due diligence, including verification through licensed professionals, before making any purchase decision. All financial information, including current and pro forma operating income, rent projections, expense estimates, market data, and other assumptions should be independently verified.