1661 Fruitvale Ave · Oakland, CA 94601

$995,000

8 bd · 6.0 ba · 4,745 sqft · MultiFamily public records · 113 Days on market

Built 1952 4,800 sqft lot $210/sqft · at area comps Est $974k · at est.

---

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 +26.0/30.0
• DSCR +8.7/10.0
• 1% rule +7.3/10.0
• ARV discount +6.5/15.0
• 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: 6 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

1661 Fruitvale Avenue, Oakland, CA presents a compelling value-add opportunity in the heart of Oakland’s Fruitvale district. This well-located 6-unit apartment building offers strong in-place income with over 35% rental upside, creating a clear path to meaningful NOI growth through strategic management and unit improvements. The property consists of six units, including four one-bedroom/one-bath units and two two-bedroom/one-bath units. The one-bedroom units offer conversion potential, providing investors with the opportunity to reconfigure layouts and further enhance rental income. The balanced unit mix supports broad tenant appeal and consistent demand in this vibrant rental corridor. Operational efficiency is strengthened by separate gas and electric metering, minimizing landlord utility expenses and improving expense control. The property also includes four private parking garages, a valuable amenity in the neighborhood that enhances tenant retention and offers potential for additional revenue. Ideally positioned near shopping, dining, public transit, and major commuter routes, 1661 Fruitvale Avenue benefits from strong local fundamentals and steady rental demand. With significant upside, utility separation, garage parking, and value-add potential, this asset represents an at

Key facts

• Conversion potential
• Balanced unit mix
• Rental upside

Tags

• VALUE ADD OPPORTUNITY
• STRONG IN PLACE INCOME
• RENTAL UPSIDE
• UNIT IMPROVEMENTS
• CONVERSION POTENTIAL
• BALANCED UNIT MIX

What this means for you Summary

Snapshot

• This is a 4×1bd/1ba + 2×2bd/1ba units multifamily listed at $995k.

Deal economics

• At list price, monthly cash flow is $2k ($30k/yr) — positive. Per door: $413/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $995k).
• Recommended offer: $905k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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); 116 active listings in the ZIP; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $12,249/mo this rent would consume 203% 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 $7k of loan paydown is wiped out by about $30k 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 + 3.9% rent growth), your $279k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($905k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $905,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% 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 1952 — 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: 1.23% ✓
• Cap rate: 9.28%
• Cash-on-cash: 10.67%
• DSCR: 1.47
• GRM: 6.8

CMA / ARV

• ARV (median comp): $974,152
• List price: $995,000
• Delta: 2.14%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 0.7%
• Equity multiple: 1.03×
• Total profit: $7,998
• Equity at exit: $148,358

10-year hold

• IRR: 11.3%
• Equity multiple: 1.93×
• Total profit: $257,929
• Equity at exit: $86,029

Cash invested: $278,600 (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: 116
• Price-to-rent: 41.7×

Monthly cashflow live

• Estimated rent: $12,249 high
• Mortgage (P&I): −$5,218
• Tax from tax record: −$1,567 /mo · $18,803/yr
• Insurance: −$415
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,572
• Net cashflow: $2,477

Break-even live

Break-even rent $9,113

Max offer price $995,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$7,964
▸ 2× units	2	1	$4,286
Total (6 units)			$12,249

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: $248,750
• Closing costs: $29,850
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $995,000 Active 113 DOM
2. 2026-06-17
   days on market $995,000 Active 112 DOM
3. 2026-06-16
   days on market $995,000 Active 111 DOM
4. 2026-06-15
   days on market $995,000 Active 110 DOM
5. 2026-06-13
   days on market $995,000 Active 108 DOM
6. 2026-06-13
   days on market $995,000 Active 107 DOM
7. 2026-06-09
   days on market $995,000 Active 104 DOM
8. 2026-06-08
   days on market $995,000 Active 103 DOM
9. 2026-06-07
   days on market $995,000 Active 102 DOM
10. 2026-06-04
    days on market $995,000 Active 99 DOM
11. 2026-06-03
    days on market $995,000 Active 98 DOM
12. 2026-06-02
    days on market $995,000 Active 97 DOM
13. 2026-06-01
    days on market $995,000 Active 96 DOM
14. 2026-05-31
    days on market $995,000 Active 95 DOM
15. 2026-02-25
    listed $995,000 Active 1306-char remark

    Show marketing remark (1306 chars)

    1661 Fruitvale Avenue, Oakland, CA presents a compelling value-add opportunity in the heart of Oakland’s Fruitvale district. This well-located 6-unit apartment building offers strong in-place income with over 35% rental upside, creating a clear path to meaningful NOI growth through strategic management and unit improvements. The property consists of six units, including four one-bedroom/one-bath units and two two-bedroom/one-bath units. The one-bedroom units offer conversion potential, providing investors with the opportunity to reconfigure layouts and further enhance rental income. The balanced unit mix supports broad tenant appeal and consistent demand in this vibrant rental corridor. Operational efficiency is strengthened by separate gas and electric metering, minimizing landlord utility expenses and improving expense control. The property also includes four private parking garages, a valuable amenity in the neighborhood that enhances tenant retention and offers potential for additional revenue. Ideally positioned near shopping, dining, public transit, and major commuter routes, 1661 Fruitvale Avenue benefits from strong local fundamentals and steady rental demand. With significant upside, utility separation, garage parking, and value-add potential, this asset represents an at

16. 2017-08-30
    soldstatus $895,000 198-char remark

    Show marketing remark (198 chars)

    Open: Fri 6/9 at 12pm. Two 2bd/1bth and four 1bd/1bth. Four private garages, on site laundry, storage, all new dual pane windows, and more. Tremendous rental upside. Rare Oakland Fruitvale location.

17. 2017-08-30
    soldstatus $895,000

    Show marketing remark (198 chars)

    Open: Fri 6/9 at 12pm. Two 2bd/1bth and four 1bd/1bth. Four private garages, on site laundry, storage, all new dual pane windows, and more. Tremendous rental upside. Rare Oakland Fruitvale location.

18. 2017-04-10
    listed $949,000 198-char remark

    Show marketing remark (198 chars)

    Open: Fri 6/9 at 12pm. Two 2bd/1bth and four 1bd/1bth. Four private garages, on site laundry, storage, all new dual pane windows, and more. Tremendous rental upside. Rare Oakland Fruitvale location.

19. 2009-09-11
    soldstatus $530,000
20. 2009-09-11
    soldstatus $530,000
21. 2009-06-16
    listed $555,000
22. 1978-01-18
    soldstatus $95,000

ⓘ 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: $18,803 · $1,567/mo
• Projected year-2 tax: $18,803 · $1,567/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 (shaded) · 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: $146,988
• − Mortgage interest: −$55,735
• − Property taxes: −$18,803
• − Insurance: −$4,975
• − Repairs & maintenance: −$11,759
• − Management: −$11,759
• − Depreciation: −$28,945
• Taxable income: $15,011
• Est. tax owed @ 24.0%: −$3,603
• After-tax cash flow: $26,125/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

+947.4% since first listed

8 events — show timeline

• 2026-02-25 Listed $995,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2017-08-30 Sold (Public Records) $895,000 Public Records
• 2017-08-30 Sold (MLS) $895,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2017-04-10 Listed $949,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2009-09-11 Sold (Public Records) $530,000 Public Records
• 2009-09-11 Sold (MLS) $530,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2009-06-16 Listed $555,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 1978-01-18 Sold (Public Records) $95,000 Public Records

Property tax history

+8.5%/yr

Latest (2025): $18,803 · +4.5% YoY. Source: county tax records.