Oakland CA Alameda County 25-Unit 32-Bedroom Multi-Family $7M-$8M 1964 West Oakland Transit Oriented Value-Add Renovated Units Parking Separate Meters Listed by Steven Peterson

CompCasa valuation analysis

Estimated market value

$7,475,000

Low $6,750,000 · Midpoint $7,475,000 · High $8,200,000

Confidence65%Sales comparison approach

CompCasa estimate$7,475,000Mar 12, 2026

$6,750,000$7,475,000 midpoint$8,200,000

Price / sq ft$398

Median sale price$850,000

Avg days on market30 days

Inventory1.8 months

Estimate anchored to the current list price ($7,450,000) with a +/- ~10-12% range. Considerations include building size (18,720 SF), unit mix (7x2BR, 18x1BR), condition (80% renovated), transit adjacency, and typical Bay Area multifamily pricing. No live comp pull; verify with broker comp set and rent roll.

About the property

25-Unit West Oakland Income Property — 18,720 SF Near BART

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.

Property details

A 1964 multi family on 0.2 acres.

Building

Year built1964

ConstructionWood Frame Exterior; Concrete Perimeter Foundation

RoofComposition Shingle

Heatingindividually metered (per-unit) gas heating reported — verify equipment and age

Coolinglikely window or wall units; no central AC reported

Site & utilities

Lot size0.2048 acres

Garagenone; surface parking (23 spaces)

Stories3

ConditionGood

BasementNone

FireplaceNo

Improvement notesApproximately 80% of units renovated; separate gas/electric/hot water meters for most/all units; coin-op laundry on site. Building described as well-maintained with no deferred maintenance in listing notes.

Lot area8,925 sq ft

TopographyLevel

FrontageUrban row lot; street frontage on Lee St.

ParkingSurface Parking

Parking spaces23

Parking notes23 on-site parking spaces reported; no enclosed garage noted in scraped data.

AccessStandard street access in urban setting; likely curb cuts for surface parking.

WaterMunicipal (Oakland Public Utilities) — Unit Level Hot Water Separately Metered Per Listing

SewerMunicipal

ElectricSeparately Metered Per Unit (Reported)

GasSeparately Metered Per Unit (Reported)

Location & nearby

West Oakland

Researched nearby locations

West Oakland BART (0.1-0.4 mi)

Emeryville / Bay Street shopping district (1.0-1.5 mi)

Location

303 Lee St, Oakland, CA 94610

View map

View in Google Maps

Editorial neighborhood context

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.

Nearby access summary

Good access to the Mandela Parkway greenway, nearby pocket parks, and Bay Trail access a short drive away — suitable for active outdoor lifestyles and dog owners.

ElementaryPeralta Elementary School (OUSD) — approx. rating 5-6/10 (moderate confidence)

Middle schoolBrookfield Middle / Local OUSD middle options (varies) — approx. rating 4-6/10

High schoolMcClymonds High School (OUSD) — approx. rating 4-5/10

School districtOakland Unified School District (OUSD)

Market context

A factual market snapshot around 303 Lee St.

Median sale price$850,000

Avg days on market30 days

Inventory1.8 months

1-year appreciation450.0%

5-year appreciation1800.0%

Editorial market perspective

West Oakland remains one of Oakland’s most investable multifamily submarkets due to its proximity to BART and Emeryville employment nodes. In early 2026, demand for transit-adjacent rental housing in the Bay Area continues to outpace supply for well-located assets; listings in strong locations typically see steady investor attention. Pricing for small-to-mid multifamily product in Oakland displays variability by condition, parking, and verified income — stabilized, renovated properties near BART command premiums. Expect underwriting to be driven by verified rent rolls and local rent control assumptions. While interest rates and capital markets influence bidding ranges, a buyer seeking scale and reliable cash flow will find this 25-unit offering compelling if the rent roll and physical due diligence align with representations.

Zoning & land use

Likely multi-family residential zoning permitting mid-density apartment use. Confirm exact zoning code and permitted density with City of Oakland planning department.

Zoning

DescriptionLikely multi-family residential zoning permitting mid-density apartment use. Confirm exact zoning code and permitted density with City of Oakland planning department.

JurisdictionCity of Oakland

Current useResidential

SetbacksUnknown — typical urban setback standards for West Oakland. Confirm with City of Oakland.

Research-indicated uses

Multi Family Residential (Apartments)
Accessory Uses Subject To Local Code (Laundry, Minor Ground Floor Retail Only With Approvals)

Verify with the jurisdiction: Zoning, setbacks, and allowed-use summaries are research indicators—not legal advice or a determination that a specific use is permitted.

Research findings & due diligence

What the research supports — and what is still worth verifying.

Key findings

Unit mix: 7 x 2BR/1BA and 18 x 1BR/1BA (25 total units).
Listed at $7,450,000; listed price equates to ~ $398/RSF.
Built in 1964; construction: concrete perimeter foundation, wood exterior, comp roof.
23 parking spaces reported; on-site coin laundry.
Separate meters for utilities reported — positive operational feature.

Highlights & features

What stands out about this property.

0125-unit brick of apartments (18,720 RSF) — 7 two-bedrooms, 18 one-bedrooms

0223 on-site parking spaces — rare for the neighborhood

0380% of units renovated and individually metered utilities

04On-site coin laundry provides ancillary income

05Prime West Oakland location near BART and Emeryville

Interior Features

25 total units: 7 x 2BR/1BA, 18 x 1BR/1BA
Approximately 80% renovated units
Private kitchens and baths per unit
On-site coin laundry

Exterior & Lot

18,720 rentable SF on an 8,925 SF lot (~0.205 acres)
23 on-site surface parking spaces
Wood exterior with composition shingle roof
Concrete perimeter foundation

Location & Neighborhood

Short walk to West Oakland BART (transit-oriented location)
Quick drive to Emeryville retail and Jack London Square
Convenient access to I-880 and regional transit
Neighborhood retail, cafes and services within walking distance

Walkability & Recreation

Walkability Rating: 78/100
Nearby: Mandela Parkway greenway and community parks
Close to Bay Trail segments and Emeryville waterfront
Good access to neighborhood grocery and dining options

Research transparency

Sources & research confidence.

See where the property research came from and how confidence varies by field.

View sources & confidence

Redfin scraped listing JSONView source

Important: This analysis is AI-assisted using pre-scraped listing data and model knowledge. It is not a formal appraisal. Verify all critical facts before making decisions.