2555 Foothill Blvd · Oakland, CA 94601

$11,501,000

25 bd · 61.0 ba · 30,012 sqft · MultiFamily public records · 74 Days on market

Built 1947 0.79 ac lot

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +4.4/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 61 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

This very nostalgic 61-unit property is conveniently located in the Fruitvale District, situated right in the heart of Oakland’s central business district and close to Lake Merritt. Casa Magna Apartments is a gated three-story apartment complex consisting of two separate structures offering a total of 30,012 square feet of living space on a .79-acre lot. This building was substantially renovated in 2014 down to the studs and foundation. This freshly renovated expansive property is well-maintained, beautifully, and professionally landscaped. There is a large laundry room generating substantial monthly income. With 31% upside in rents, this building allows the next owner to increase returns and leverage investment in the hot Oakland market. Casa Magna offers affordable living with great potential and a strong sense of community, particularly appealing to those seeking proximity to medical facilities and a diverse, established neighborhood. The mixture of units on the property has: (22) 2 bedroom / 1 bath, (21) studio units / 1 bath, (18) 1 bedroom / 1 bath. Various apartment units have a balcony or patio. There is ample covered carport parking for cars, and off-street parking. You will find multiple security features including monitoring cameras and gated entry.

Key facts

• Large laundry room
• Balcony or patio
• 0.79 acre lot

Tags

• GATED APARTMENT COMPLEX
• SUBSTANTIALLY RENOVATED
• PROFESSIONALLY LANDSCAPED
• LARGE LAUNDRY ROOM
• BALCONY OR PATIO
• AMPLE COVERED CARPORT PARKING

What this means for you Summary

Snapshot

• This is a 61 × ?-bed/?-bath units multifamily listed at $11.50M.

Deal economics

• At list price, monthly cash flow is $13k ($156k/yr) — positive. Per door: $213/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $10.85M (5.7% below list).
• Recommended offer: $10.81M (6.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 2.4% in Oakland — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 71/100 on livability (#224 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: schools C-, crime F, cost of living F.
• Oakland Unified (urban): math 27% / reading 33% proficiency, ranked #1,007 of 1,400 in CA (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.9%/yr); 118 active listings in the ZIP; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $108,467/mo this rent would consume 1799% of the median local household income ($72k/yr) (locally 3603% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $80k of loan paydown is wiped out by about $345k of value loss. Plan a longer hold.
• Alameda County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($10.81M) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $3.90M; list at $11.50M implies a 195% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $10,810,940 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.94% ✗
• Cap rate: 7.65%
• Cash-on-cash: 4.84%
• DSCR: 1.22
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.89% rent growth · sell at horizon

5-year hold

• IRR: -7.9%
• Equity multiple: 0.71×
• Total profit: $-941,680
• Equity at exit: $1,714,836

10-year hold

• IRR: 2.7%
• Equity multiple: 1.20×
• Total profit: $643,459
• Equity at exit: $994,396

Cash invested: $3,220,280 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City Oakland: 0 Strongly Tenant-Friendly · D+62

Rent Adjustment Program + Just Cause.

Methodology + full state rankings →

ZIP-level market 94601

• Rents YoY: 3.9%
• Active inventory: 118
• Price-to-rent: 539.0×

Monthly cashflow live

• Estimated rent: $108,467 medium
• Mortgage (P&I): −$60,312
• Tax from tax record: −$7,607 /mo · $91,288/yr
• Insurance: −$4,792
• HOA: −$0
• Vacancy / Maint / Mgmt: −$22,778
• Net cashflow: $12,977

Break-even live

Break-even rent $92,040

Max offer price $11,501,000

Occupancy floor 83%

Sensitivity live

Price	-10% $19,487	-5% $16,232	+0% $12,977	+5% $9,722	+10% $6,467
Rent	-10% $4,408	-5% $8,693	+0% $12,977	+5% $17,261	+10% $21,546
Rate	-1.0pp $18,769	-0.5pp $15,902	base $12,977	+0.5pp $9,997	+1.0pp $6,965

61-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 61× units	0	0	$108,458
Total (61 units)			$108,467

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $2,875,250
• Closing costs: $345,030
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $11,501,000 Active 74 DOM
2. 2026-06-18
   days on market $11,501,000 Active 71 DOM
3. 2026-06-17
   days on market $11,501,000 Active 70 DOM
4. 2026-06-16
   days on market $11,501,000 Active 69 DOM
5. 2026-06-15
   days on market $11,501,000 Active 68 DOM
6. 2026-06-13
   days on market $11,501,000 Active 66 DOM
7. 2026-06-13
   days on market $11,501,000 Active 65 DOM
8. 2026-06-09
   days on market $11,501,000 Active 62 DOM
9. 2026-06-08
   days on market $11,501,000 Active 61 DOM
10. 2026-06-07
    days on market $11,501,000 Active 60 DOM
11. 2026-06-04
    days on market $11,501,000 Active 57 DOM
12. 2026-06-03
    days on market $11,501,000 Active 56 DOM
13. 2026-06-02
    days on market $11,501,000 Active 55 DOM
14. 2026-06-01
    days on market $11,501,000 Active 54 DOM
15. 2026-05-31
    days on market $11,501,000 Active 53 DOM
16. 2026-04-08
    listed $11,501,000 Active 1287-char remark

    Show marketing remark (1287 chars)

    This very nostalgic 61-unit property is conveniently located in the Fruitvale District, situated right in the heart of Oakland’s central business district and close to Lake Merritt. Casa Magna Apartments is a gated three-story apartment complex consisting of two separate structures offering a total of 30,012 square feet of living space on a .79-acre lot. This building was substantially renovated in 2014 down to the studs and foundation. This freshly renovated expansive property is well-maintained, beautifully, and professionally landscaped. There is a large laundry room generating substantial monthly income. With 31% upside in rents, this building allows the next owner to increase returns and leverage investment in the hot Oakland market. Casa Magna offers affordable living with great potential and a strong sense of community, particularly appealing to those seeking proximity to medical facilities and a diverse, established neighborhood. The mixture of units on the property has: (22) 2 bedroom / 1 bath, (21) studio units / 1 bath, (18) 1 bedroom / 1 bath. Various apartment units have a balcony or patio. There is ample covered carport parking for cars, and off-street parking. You will find multiple security features including monitoring cameras and gated entry.

17. 2025-04-25
    historical $1,895
18. 2025-04-06
    listed $1,895
19. 2025-02-19
    historical $1,495
20. 2025-02-17
    listed $1,495
21. 2024-01-30
    historical $1,995
22. 2024-01-20
    listed $1,995
23. 2024-01-10
    historical $1,445
24. 2023-12-13
    listed $1,445
25. 2023-10-25
    historical
26. 2023-08-29
    listed New
27. 2005-04-21
    soldstatus $3,900,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $91,288 · $7,607/mo
• Projected year-2 tax: $91,288 · $7,607/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥84°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 8/10 Severe 14 unhealthy d/yr today · 14 by 30 yrs out

Taxation est. · year 1

• Rental income: $1,301,604
• − Mortgage interest: −$644,235
• − Property taxes: −$91,288
• − Insurance: −$57,505
• − Repairs & maintenance: −$104,128
• − Management: −$104,128
• − Depreciation: −$334,575
• Taxable loss: −$34,255
• Est. tax savings @ 24.0%: +$8,221
• After-tax cash flow: $163,945/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Oakland Unified
• NCES district ID: 0628050
• Math proficiency: 27% ▬ 0.00%
• Reading proficiency: 33% ▬ 0.00%
• Median HH income: $55,194
• Composite: 29.52/100
• National rank: #11769
• State rank: #1007 of 1400 in CA

Livability — Oakland

• Score: 71/100
• State rank: #224
• US rank: #7245

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment A+ Housing B Health & safety A+ User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oakland, CA
• County: Alameda County · 1,614,355 people
• City population: 385,993
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 53,259
• Household income: $72,359
• Rent vs Own: 63.6% rent · 36.4% own
• Severe rent burden: 3603.0

Population outlook (Alameda County) Hauer SSP2

• Today (2025): 1,928,884 people
• By 2030: 2,069,146 · +7.3%
• By 2040: 2,338,405 · +21.2%
• By 2050: 2,586,608 · +34.1%
• By 2075: 3,061,911 · +58.7%
• By 2100: 3,234,133 · +67.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Hispanic / Latino 53% Asian 18% Black 13% White 11% Two or more races 10% Native American 3%
• Hispanic origin (detail): Mexican 35%
• Common ancestry: Italian 1% Scotch-Irish 1%
• Foreign-born: 40% · Canada, Vietnam, China
• Languages at home: 35% English-only · Spanish 46% Chinese 5% Vietnamese 4%

Political lean MEDSL · Alameda

• 2024 margin: Solid D (+53.6) · D 74.6% · R 21.0% · Other 4.4%
• 2008→2024 swing: -5.9pp toward R · 2008: 59.5pp · 2024: 53.6pp
• All cycles: 2024: D+53.6 2020: D+62.5 2016: D+64.4 2012: D+59.8 2008: D+59.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1045.52%
• Current HPI: 347.3256
• Rent YoY: ▲ 3.89%
• Metro: San Francisco-Oakland-Berkeley, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+194.9% since first listed

12 events — show timeline

• 2026-04-08 Listed $11,501,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-04-25 Rental Removed $1,895 RENTALBEAST
• 2025-04-06 Listed for Rent $1,895 RENTALBEAST
• 2025-02-19 Rental Removed $1,495 RENTALBEAST
• 2025-02-17 Listed for Rent $1,495 RENTALBEAST
• 2024-01-30 Rental Removed $1,995 APPFOLIO
• 2024-01-20 Listed for Rent $1,995 APPFOLIO
• 2024-01-10 Rental Removed $1,445 TURBOTENANT
• 2023-12-13 Listed for Rent $1,445 TURBOTENANT
• 2023-10-25 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2023-08-29 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2005-04-21 Sold (Public Records) $3,900,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $91,288 · +6.0% YoY. Source: county tax records.