303 Lee St, Oakland, CA 94610

303 Lee Street is a rare mid-sized apartment offering in West Oakland: a three-story, 25-unit building totaling 18,720 rentable square feet on an 8,925 SF urban lot. The property comprises 7 two-bedroom/one-bath flats and 18 one-bedroom/one-bath units — a versatile mix that appeals to a broad renter base. The building was constructed in 1964 and has been well maintained; approximately 80% of the units have been renovated, and each unit is separately metered for gas and electric, with separate hot water meters reported. An on-site coin laundry adds ancillary income and the property includes 23 on-site parking spaces, a meaningful amenity in this neighborhood.

Practical advantages for an investor include the separate utility meters that limit owner utility expense exposure and the high percentage of renovated units that reduce immediate capital requirements. The unit mix and location deliver strong leasing velocity to working professionals who commute via West Oakland BART and to nearby employment centers in Emeryville, downtown Oakland, and San Francisco. The building's exterior is wood frame with a concrete perimeter foundation and composition shingle roof — the listing describes the building as maintained in good condition and free of deferred maintenance.

Value-add potential remains: renovate the remaining unrenovated units to push market rents (subject to local rent control/tenant protections), optimize laundry and parking income, and improve operational efficiency through professional management. Investors will appreciate proximity to transit, neighborhood retail, and major arterials (I-880 nearby), which support durable demand from renters seeking convenience and short commutes.

This offering is best suited for investors seeking stabilized cash flow with upside through unit turnover and operational improvements. Request the rent roll, T-12 operating history, utility bills, and schedule a walkthrough to confirm condition and unit-level rents.

West Oakland is a diverse, transit-oriented neighborhood that blends residential blocks, light industrial uses and growing retail corridors. The area benefits from immediate access to West Oakland BART, Mandela Parkway green space, and short distances to Emeryville and Downtown Oakland. Development pressure and investment in adjacent neighborhoods have sustained renter demand, while long-standing community institutions and local businesses define much of the neighborhood character.