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Listed by Scott Piper • EXP Realty of California, Inc scott@scottpiper.com
$ 1,800,000
Est. payment /mo
New
2300 Fruitvale Ave Oakland, CA 94601
5,200 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 5,200 sqft
Price per Sqft $346
Subdivision Fruitvale
MLS Listing ID 41146742
HOA Y/N No
Year Built 1928
Lot Size 6,800 Sqft
Property Sub-Type 5 or More Units
Source BAY EAST
Property Description
Eight-unit multifamily asset, two buildings on a 6,800 SF corner lot in Oakland, offered at $1.8M. Executable pro forma cap rate of 9.2% at full stabilization. Two of the eight units are finished to a standard this submarket does not typically produce: large-format slate tile, ductless mini-split climate control, in-unit LG washer/dryer, quartz and marble kitchens with Samsung appliances and wine refrigerator, and bathrooms built to a boutique-hotel spec; floor-to-ceiling wood-grain tile, frameless glass showers, floating black vanities, black fixtures throughout. Mature Italian cypress and custom iron fencing frame the corner exterior; keyfob-secured gates front and rear, enclosed parking, and a built-in package drop complete a presence uncommon for the asset class. The remaining six units carry a documented path to increased rents: $75,000 refurbishment investment per unit, ($450,000 total), converting current monthly rent of $12,999.88 to a market monthly rent of $21,510 with all units upgraded. Each completed "proof" unit has produced a 19–23% coupon return on invested capital — the work is not projected, it is documented and replicated. (See Offering Memorandum for more detail) 2300 Fruitvale is Building 1 of the 6 building Excedente Portfolio, that is dramatically outperforming the market, in demographic & landscape changing Oakland. This is not a forward-looking market story — it is already on the ground. Jeff Bezos' Project Prometheus, an AI manufacturing venture valued at $41 billion, signed a 100,000 SF lease at the former American Steel complex on Mandela Parkway in West Oakland. Tesla signed roughly 40,000 SF at the same campus days later. Behring Capital separately proposed converting a downtown Oakland office tower into an AI data center anchoring a 1.3M SF innovation campus. All three moves landed within the same two-week span in August 2026 — signed leases and active filings, not proposals under review. San Francisco's median two-bedroom rent crossed $6,000 a month for the first time in mid-2026. Oakland's median sits at $2,640 — a $3,380 monthly gap, while Oakland apartment vacancy has compressed from 9.7% in late 2023 to 4.1% today. The workforce priced out of San Francisco is relocating to Oakland. This asset is the EXACT product the young AI workforce is looking for, priced and renovated at today's Oakland numbers; before either move finishes. The question is whether you want to be positioned before or after the lag closes.
Location
State CA
County Alameda
Interior
Heating MultiUnits
Cooling Multi Units
Flooring Tile
Fireplace No
Window Features Double Pane Windows,Window Coverings
Appliance Dishwasher, Disposal, Free-Standing Range, Microwave, Refrigerator, Dryer, Washer
Laundry Dryer, In Unit, Washer, Cabinets
Building
Lot Description Corner Lot, Level
Water Public
Others
Special Listing Condition Standard
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