978 75th Ave, Oakland, CA 94621
- $980,000
- 2,916
- SqFt
- Sold Price
- $980,000
- List Price
- $895,000
- Status
- CLOSED
- MLS#
- 41137423
- Closing Date
- Aug 04, 2026
- Year Built
- 1943
- Property Type
- Quadruplex
- Living Area
- 2,916
- Lot Size
- 4,000
- Acres
- 0.09
- County
- Alameda
- Subdivision
- Elmhurst
Property Description
Situated along the 75th Avenue corridor less than a mile from Coliseum BART, 978 75th Avenue is a fully occupied East Oakland fourplex offering immediate, stabilized income in an established rental neighborhood. The two-story building spans approximately 2,916 square feet across two 3BD/1BA and two 2BD/1BA units, each with a private entry, assigned parking, and updated kitchen with quartz countertops and shaker cabinetry. Three of four units operate under active HACA HAP contracts, with annualized gross income of $117,660 and a proforma NOI of $76,073. Separate utility meters for all four units keep the expense ratio at a lean 30.5% — tenants pay their own gas and electric. At $895,000 — $307/SF and $223,750 per unit — this is a rare chance to acquire a cash-flowing, HAP-contract fourplex in East Oakland at an 8.5% current cap rate, with current rents approximately 8% below market and a clear path to 9.5% at turnover.
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Additional Information
- Exterior
- Stucco, Frame
- Flooring
- Tile, Vinyl
- Laundry Features
- In Unit
- Lot Description
- Corner Lot, Level, Paved
- Parking Features
- Uncovered Parking Space, Uncovered Park Spaces 2+, Street Parking
- Roof
- Shingle
- Water Sewer
- Public
Mortgage Calculator
Listing courtesy of Joey Wang from Keller Williams Realty. 510-592-5554
Selling Office: Wonder Rates.
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