$799,888

2802 38th Ave, Oakland, CA 94619

7 beds
3,171 sqft

Multi-Family Home
Built in 1925
3,485sqft lot
—— car garage
$252/sqft
Listed 19 days ago

Property Description

2802 38th Avenue, Oakland presents a compelling mixed-use investment opportunity with immediate cash flow and strong upside potential. The property consists of three residential units—two 2BR/1BA units and one 3BR/1BA unit—along with one commercial space, providing diversified income streams and reduced vacancy risk. Currently generating approximately $7,500/month ($90,000+ annually), this asset offers solid in-place income with projected upside to $90,384+ annually. With tenants responsible for most utilities, operating expenses remain low, contributing to a favorable net operating income (NOI) profile. At an asking price of $788,999, the property is projected to deliver an attractive cap rate in the ~7% range (buyer to verify), making it a strong addition to any income-focused portfolio. Strategically located in the Allendale neighborhood, the property benefits from proximity to I-580, offering convenient access to Downtown Oakland and San Francisco. Nearby retail corridors along Fruitvale Avenue and MacArthur Boulevard enhance tenant demand and long-term rental stability. This is a low-maintenance, high-yield asset ideal for investors seeking cash flow, diversification, and long-term appreciation in a growing East Bay market.

Listing Status:: Active
Date Added:: April 30, 2026
Data Last Updated:: May 20, 2026 at 3:08AM
Listing Office:: Realty ONE Group Future : 925-230-0700
Listing Agent:: Grace Nguyen : 510-304-0888
MLS ID:: 41132978

Appliances: Gas Water Heater
Basement: None
Flooring: ConcreteLaminateTileCarpet
A/C: Room Air
Heating: ElectricNatural Gas

Parking: CarportNo GarageOn StreetUncovered Parking Space

Windows: Window Coverings
General: ConcreteStuccoFrameWood SidingWoodShingle Siding

County: Alameda

Zoning: 32205431
Fencing: Fenced

Utilities: Sewer ConnectedAll UtilitiesNatural Gas ConnectedIndividual Electric MeterIndividual Gas Meter
Water: Public

This listing courtesy of Grace Nguyen , Realty ONE Group Future

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

Ready to Start a VA Loan?

Get Started

NMLS #1907 ^†

Get Prequalified »

Interest rates used in the VA mortgage calculator are shown for illustrative purposes only. Your rate may differ based on a variety of factors, including your credit score and the current market conditions. To get your personalized interest rate, start your quote online.