$6,250,000
2505 10th Ave, Oakland, CA 94606
Eastlake 35‑Unit Apartment Portfolio — 29 1BR, 5 2BR, 1 Studio
35 Bed · 35 Bath · 23,750 Sq Ft
Institutional‑scale Oakland multifamily with immediate income and upside
35
Beds
35
Baths
23,750
Sq Ft
1957
Built
0.54 acres
Lot
31 on-site parking spaces (surface/secured)
Garage
About 2505 10th Ave
Offered for sale as a single asset, Eastlake Apartments (2505 10th Ave) is a rare 35‑unit, market‑rate portfolio in one of Oakland’s most connected residential corridors. Built in 1957 and composed of three low‑rise buildings totaling 23,750 SF on a 0.54‑acre lot, the property delivers a pragmatic owner‑operator acquisition with immediate cashflow and practical value‑add potential.
The unit mix—29 one‑bed/1‑bath, 5 two‑bed/1‑bath and 1 studio—is tenant-friendly and well‑suited to workforce renters commuting to downtown Oakland, Emeryville and San Francisco. The asset is delivered with 31 on‑site parking spaces, secured access entry, on‑site laundry and individually metered gas and electric, which minimize owner utility exposure and simplify turn management. Many units feature mostly dual‑pane windows and several offer partial views of downtown Oakland.
The listing price of $6,250,000 equates to approximately $178,600 per unit and $263 per SF—positioning Eastlake as an attractive buy for local multifamily investors and regional private equity groups seeking scale in Oakland without the premium of newer construction. Operational upside exists through modest interior upgrades, lease re‑pricing where market rent concessions have been used, and continued management efficiencies.
Location is a key asset: the property sits within easy reach of Lake Merritt, downtown Oakland and Jack London Square, with straightforward access to I‑880 and I‑580 and multiple transit options (local buses and regional BART within a short drive). Whether you are an owner/operator targeting stabilized returns or a buyer pursuing a value‑add roll, Eastlake presents immediate cashflow with clear pathways to enhance net operating income.
Contact listing broker Steven Peterson at Infinity Investments for the offering memorandum, rent roll, and to schedule a property tour. Buyer to verify all information; rent roll and financials available under NDA.
Home Highlights
Property Features
Interior Features
- 29 one‑bedroom / 5 two‑bedroom / 1 studio unit mix
- Individually metered gas and electric (reduces owner utility liability)
- Mostly dual‑pane windows (improved energy performance)
- On‑site coin laundry (income stream and tenant amenity)
Exterior & Lot
- Three low‑rise buildings on one 0.54‑acre lot (23,522 SF)
- 31 on‑site parking spaces with secured gate
- Secured access entry and urban landscaping
- Surface parking and courtyard circulation
Location & Neighborhood
- 0.8–1.5 miles to Lake Merritt and downtown Oakland
- Short drive to I‑880, I‑580 and Oakland International Airport
- Regional transit access via local bus routes; BART a short drive away
- Nearby conveniences: neighborhood retail, restaurants and services
Walkability & Recreation
- Walkability Rating: 72/100
- Close proximity to Lake Merritt parks and waterfront pathways
- Local neighborhood amenities and dining within a short walk or short drive
Neighborhood & Location
Eastlake (immediately west of Lake Merritt and near central Oakland) blends established residential blocks with pockets of newer development and convenient access to downtown. The area attracts a mix of renters—young professionals, service workers and families—seeking proximity to transit, local restaurants and outdoor amenities like Lake Merritt. Streets are primarily low‑rise multifamily with neighborhood retail corridors within a short drive.
Market Insights
Oakland’s multifamily market continues to attract investors looking for yield and scale below San Francisco price points. Demand remains strongest for properties close to employment centers and transit—attributes Eastlake benefits from. In 2025–2026 the Bay Area market showed greater bifurcation: newer, amenity‑rich buildings command price premiums, while well‑located mid‑century stock like this trades on unit economics and upside potential. Expect active interest from local family offices, regional funds and private owners who can execute light renovations to capture rent growth. Underwrite with conservative vacancy and expense assumptions given Oakland’s regulatory environment; however, the property’s individually metered utilities, on‑site laundry and secured parking are differentiators that support rentability and operating stability.
Nearby Schools
Bret Harte Elementary School
Elementary · 0.7–1.2 mi (approx.)
West Oakland Middle School
Middle · 1.0–2.0 mi (approx.)
McClymonds High School
High · 1.2–2.5 mi (approx.)
Walkability & Recreation
Minutes from Lake Merritt park, walking paths and recreational amenities; good neighborhood access to outdoor spaces.
Investment Highlights
- 35-unit scale provides immediate institutional-sized cashflow in Oakland
- Individually metered gas & electric, reducing owner utility burden
- 31 on-site parking spaces — strong amenity in urban Oakland settings
- Proximity to Lake Merritt, downtown Oakland and major freeways
- Mostly dual-pane windows and secured entry — lower near-term capex risk
Key Findings
- Unit mix: 29 x 1BR/1BA, 5 x 2BR/1BA, 1 x studio (35 units total)
- Building area: 23,750 SF on a 23,522 SF lot (0.54 acres)
- Year built: 1957, three buildings on one lot
- Listed price: $6,250,000 — approx. $178,600 per unit, $263/SF
- Amenities: on-site laundry, secured access, individually metered utilities, some downtown views
Things to Consider
- Older vintage (1957) — potential deferred maintenance or seismic upgrade needs
- Unit-level rent roll not provided — underwriting sensitive to true in-place rents and vacancy
- Zoning/entitlement constraints unknown — limits on densification without city approvals
- Market sensitivity to Bay Area rent cycles — cap rates could compress with increased competition
Opportunity Analysis
Acquire a 35-unit Eastlake-area multifamily property with stable income and practical upside from unit interior renovations, lease optimization and potential operational efficiencies. Use scale to achieve expense reductions and targeted value-add capital improvements to push rents toward neighborhood market levels.
Potential Use Scenarios
- Obtain detailed unit rent roll, lease expirations and capital reserve history prior to offer.
- Underwrite with conservative vacancy (5–7%) and 35–40% operating expense assumption; stress test for higher expenses.
- Implement a phased interior renovation plan focusing on kitchens/baths and flooring to capture rent premiums without major displacement.
- Explore modest unit reconfiguration where feasible and check local zoning/ADU rules for additional income opportunities.
Risk Factors
- Unexpected capital expenditures (roof, seismic, plumbing/electrical) due to building age.
- Regulatory constraints in Oakland around rent control, eviction protections, and permitting timelines.
- Potential cap rate movement if investor sentiment toward multifamily shifts in the Bay Area.
Buyers should conduct independent due diligence before making any purchase decisions.
AI Valuation Estimate
Low
$5600K
Midpoint
$6250K
High
$6900K
$263/SF estimated price per square foot
Estimate anchored to the provided list price of **$6,250,000**. Range uses typical Oakland multifamily pricing bands (unit-count pricing, price-per-unit, and price-per-sf) and assumes current market rent levels and an investor buyer pool. No live comparable sales feed was available; confirm with a broker comp search and appraisal.
As of 2026-03-14
This is a computer-generated estimate for informational purposes only and is not an appraisal or professional valuation.
Market & Area Data
Market Trends
Demographics
Oakland continues to see sustained rental demand and redevelopment interest. Eastlake and areas adjacent to Lake Merritt attract renters employed in downtown Oakland, S.F., Emeryville and the East Bay tech/health clusters.
Nearby Points of Interest
- Lake Merritt (0.8–1.5 mi)
- Downtown Oakland (1.0–1.5 mi)
Convenient to Lake Merritt, downtown Oakland, Jack London Square and major freeways (I-880, I-580). Local transit and BART access to regional job centers; Oakland International Airport accessible by short drive.
School District
Market data is based on aggregated public records and may not reflect real-time conditions.
Property Details
Building Details
Lot & Site
Utilities
Zoning & Land Use
Allowed Uses
Tax & Sale History
Tax Assessment
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