2240 Macarthur Blvd · Oakland, CA 94602

$2,750,000

12 bd · 18.0 ba · 14,300 sqft · MultiFamily public records · 35 Days on market

Built 1927 5,700 sqft lot $192/sqft · 25% above area Est $2202k · 25% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Rent growth +3.9/5.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 18 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 18 unit multi-res building plus one commercial storefront built in 1927. Located above Hwy 580 in the bristling Dimond District neighborhood known for its wonderful restaurants, stores, local banks, and access to public transportation. Farmer Joe's Marketplace on Fruitvale offers fresh produce and has a quality meat market. Nearby there are Safeway and CVS. There's also carpooling at Fruitvale and Montana Street. Local Dimond Park on Fruitvale offers tennis courts, a pool, and playground area for children. The property has been under long-term current ownership and maintained under professional property management for many years. Over the last 10 years several improvements have been completed. These improvements include exterior painting, seismic retrofitting, newer roof, newer water heater tank, newer fire alarm system. Many of the aprtments have been renovated including updated kitchens and baths. The heat to the building is provided through energy efficient boiler located in the basement. There are separate electric meters which are tenant expenses. There is one master water and gas meter which is an owner expense. Property taxes, management and maintenance expenses are not included in the quoted financials. Financial information has been provided to the brokers.

Key facts

• Tennis courts
• Local dimond park
• Pool

Tags

• DIMOND DISTRICT NEIGHBORHOOD
• FARMER JOE'S MARKETPLACE
• LOCAL DIMOND PARK
• TENNIS COURTS
• POOL
• PLAYGROUND AREA

What this means for you Summary

Snapshot

• This is a 18 × 1-bed/1-bath units multifamily listed at $2.75M.

Deal economics

• At list price, monthly cash flow is $13k ($157k/yr) — positive. Per door: $726/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($39k rent vs $2.75M).
• Recommended offer: $2.67M (3.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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 fast (+5.5%/yr); 111 active listings in the ZIP; high-income renter base; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $38,541/mo this rent would consume 378% of the median local household income ($122k/yr) (locally 1018% 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 $19k of loan paydown is wiped out by about $82k 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.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $770k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($2.67M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $2,667,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% 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 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.40% ✓
• Cap rate: 12.00%
• Cash-on-cash: 20.38%
• DSCR: 1.91
• GRM: 5.9

CMA / ARV

• ARV (median comp): $2,202,154
• List price: $2,750,000
• Delta: 24.88%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.5% rent growth · sell at horizon

5-year hold

• IRR: 15.3%
• Equity multiple: 1.63×
• Total profit: $486,124
• Equity at exit: $410,034

10-year hold

• IRR: 25.7%
• Equity multiple: 3.50×
• Total profit: $1,923,143
• Equity at exit: $237,770

Cash invested: $770,000 (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 94602

• Rents YoY: 5.5%
• Active inventory: 111
• Price-to-rent: 107.0×

Monthly cashflow live

• Estimated rent: $38,541 high
• Mortgage (P&I): −$14,421
• Tax from tax record: −$1,805 /mo · $21,654/yr
• Insurance: −$1,146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$8,094
• Net cashflow: $13,076

Break-even live

Break-even rent $21,989

Max offer price $2,750,000

Occupancy floor 61%

Sensitivity live

Price	-10% $14,632	-5% $13,854	+0% $13,076	+5% $12,297	+10% $11,519
Rent	-10% $10,031	-5% $11,553	+0% $13,076	+5% $14,598	+10% $16,120
Rate	-1.0pp $14,461	-0.5pp $13,775	base $13,076	+0.5pp $12,363	+1.0pp $11,638

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

Units	Beds	Baths	Est. rent
▸ 18× units	1	1	$38,538
Total (18 units)			$38,541

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: $687,500
• Closing costs: $82,500
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-08
   status Pending 1292-char remark

   Show marketing remark (1292 chars)

   This 18 unit multi-res building plus one commercial storefront built in 1927. Located above Hwy 580 in the bristling Dimond District neighborhood known for its wonderful restaurants, stores, local banks, and access to public transportation. Farmer Joe's Marketplace on Fruitvale offers fresh produce and has a quality meat market. Nearby there are Safeway and CVS. There's also carpooling at Fruitvale and Montana Street. Local Dimond Park on Fruitvale offers tennis courts, a pool, and playground area for children. The property has been under long-term current ownership and maintained under professional property management for many years. Over the last 10 years several improvements have been completed. These improvements include exterior painting, seismic retrofitting, newer roof, newer water heater tank, newer fire alarm system. Many of the aprtments have been renovated including updated kitchens and baths. The heat to the building is provided through energy efficient boiler located in the basement. There are separate electric meters which are tenant expenses. There is one master water and gas meter which is an owner expense. Property taxes, management and maintenance expenses are not included in the quoted financials. Financial information has been provided to the brokers.

2. 2026-04-02
   listed $2,750,000 Active 1292-char remark

   Show marketing remark (1292 chars)

   This 18 unit multi-res building plus one commercial storefront built in 1927. Located above Hwy 580 in the bristling Dimond District neighborhood known for its wonderful restaurants, stores, local banks, and access to public transportation. Farmer Joe's Marketplace on Fruitvale offers fresh produce and has a quality meat market. Nearby there are Safeway and CVS. There's also carpooling at Fruitvale and Montana Street. Local Dimond Park on Fruitvale offers tennis courts, a pool, and playground area for children. The property has been under long-term current ownership and maintained under professional property management for many years. Over the last 10 years several improvements have been completed. These improvements include exterior painting, seismic retrofitting, newer roof, newer water heater tank, newer fire alarm system. Many of the aprtments have been renovated including updated kitchens and baths. The heat to the building is provided through energy efficient boiler located in the basement. There are separate electric meters which are tenant expenses. There is one master water and gas meter which is an owner expense. Property taxes, management and maintenance expenses are not included in the quoted financials. Financial information has been provided to the brokers.

ⓘ 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: $21,654 · $1,805/mo
• Projected year-2 tax: $21,654 · $1,805/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: $462,492
• − Mortgage interest: −$154,043
• − Property taxes: −$21,654
• − Insurance: −$13,750
• − Repairs & maintenance: −$36,999
• − Management: −$36,999
• − Depreciation: −$80,000
• Taxable income: $119,046
• Est. tax owed @ 24.0%: −$28,571
• After-tax cash flow: $128,338/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): 31,759
• Household income: $122,263
• Rent vs Own: 39.8% rent · 60.2% own
• Severe rent burden: 1018.0

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: White 41% Hispanic / Latino 20% Asian 16% Black 15% Two or more races 11% Pacific Islander 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Italian 3% Lithuanian 2% Romanian 1%
• Foreign-born: 24% · Canada, China, Vietnam
• Languages at home: 67% English-only · Spanish 14% Chinese 8% Other Asian/Pacific 2%

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: ▼ -1108.77%
• Current HPI: 275.7267
• Rent YoY: ▲ 5.50%
• 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

2 events — show timeline

• 2026-05-08 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-04-02 Listed $2,750,000 bridgeMLS, Bay East AOR, or Contra Costa AOR

Property tax history

+4.9%/yr

Latest (2025): $21,654 · +6.5% YoY. Source: county tax records.