2550 35th Ave · Oakland, CA 94601

$2,650,000

24 bd · 18.0 ba · 11,960 sqft · MultiFamily public records · 122 Days on market

Built 1956 0.50 ac lot $222/sqft · 18% above area Est $2234k · 19% 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 +27.6/30.0
• DSCR +9.7/10.0
• 1% rule +7.8/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• 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

We are pleased to present to the seasoned investors a unique investment property in a solid Oakland location in the Bartlett/Allendale neighborhood. This 18 unit apartment complex features Six 2 bed/1bath and Twelve 1bed/1bath units with and four 1bd/1bth units with market rate tenants, with an excellent long-term upside. The property was originally built in 1954, offers approximately 11,960 square feet www.eliteinvests.com of rental space, and sits on a 1/2 acre lot with 18 parking space, majority of them being carports (1 to 1 ratio). Some units have been remodeled over time and offer newer kitchens and bathrooms, vinyl floors, and so on. The building is located about 3 minutes from 580 freeway with a quick and easy commute to Oakland Lake Merritt or a 30 minute drive to downtown San Francisco. Fruitvale BART is literary a 5 minute drive or bike ride south on 35th Ave or 10 minutes on bus. The current owners have made substantial capital expenditures in the property in the past several years. The roof of both buildings have been replaced and recoated in 2024 and 2025 at a cost of approximately $40,000. The property has been earthquake retrofitted at a cost of about $110,000 in 2024. And the units have been extensively rehabbed upon turnover.

Key facts

• Newer kitchens
• Vinyl floors
• Newer bathrooms

Tags

• 18 UNIT APARTMENT COMPLEX
• NEWER KITCHENS
• NEWER BATHROOMS
• VINYL FLOORS
• ROOF REPLACED
• EARTHQUAKE RETROFITTED

What this means for you Summary

Snapshot

• This is a 18 × 1-bed/?-bath units multifamily listed at $2.65M.

Deal economics

• At list price, monthly cash flow is $8k ($95k/yr) — positive. Per door: $441/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($34k rent vs $2.65M).
• Recommended offer: $2.33M (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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 $33,823/mo this rent would consume 561% 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 $18k of loan paydown is wiped out by about $80k 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 $742k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($2.33M) is reasonable based on typical stale-listing flexibility.
• 2 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 $1.64M; list at $2.65M implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $2,332,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% 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 1956 — 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: 1.28% ✓
• Cap rate: 9.88%
• Cash-on-cash: 12.83%
• DSCR: 1.57
• GRM: 6.5

CMA / ARV

• ARV (median comp): $2,233,898
• List price: $2,650,000
• Delta: 18.63%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 3.7%
• Equity multiple: 1.14×
• Total profit: $107,018
• Equity at exit: $395,124

10-year hold

• IRR: 14.1%
• Equity multiple: 2.18×
• Total profit: $874,491
• Equity at exit: $229,124

Cash invested: $742,000 (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 94601

• Rents YoY: 3.9%
• Active inventory: 116
• Price-to-rent: 117.5×

Monthly cashflow live

• Estimated rent: $33,823 high
• Mortgage (P&I): −$13,897
• Tax from tax record: −$3,789 /mo · $45,468/yr
• Insurance: −$1,104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$7,103
• Net cashflow: $7,930

Break-even live

Break-even rent $23,785

Max offer price $2,650,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 18× units	1	—	$33,822
Total (18 units)			$33,823

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: $662,500
• Closing costs: $79,500
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $2,650,000 Active 122 DOM
2. 2026-06-17
   days on market $2,650,000 Active 121 DOM
3. 2026-06-16
   days on market $2,650,000 Active 120 DOM
4. 2026-06-15
   days on market $2,650,000 Active 119 DOM
5. 2026-06-13
   days on market $2,650,000 Active 117 DOM
6. 2026-06-13
   days on market $2,650,000 Active 116 DOM
7. 2026-06-09
   days on market $2,650,000 Active 113 DOM
8. 2026-06-08
   days on market $2,650,000 Active 112 DOM
9. 2026-06-07
   days on market $2,650,000 Active 111 DOM
10. 2026-06-04
    days on market $2,650,000 Active 108 DOM
11. 2026-06-03
    days on market $2,650,000 Active 107 DOM
12. 2026-06-02
    days on market $2,650,000 Active 106 DOM
13. 2026-06-01
    days on market $2,650,000 Active 105 DOM
14. 2026-05-31
    days on market $2,650,000 Active 104 DOM
15. 2026-02-16
    listed $2,650,000 Active 1263-char remark

    Show marketing remark (1263 chars)

    We are pleased to present to the seasoned investors a unique investment property in a solid Oakland location in the Bartlett/Allendale neighborhood. This 18 unit apartment complex features Six 2 bed/1bath and Twelve 1bed/1bath units with and four 1bd/1bth units with market rate tenants, with an excellent long-term upside. The property was originally built in 1954, offers approximately 11,960 square feet www.eliteinvests.com of rental space, and sits on a 1/2 acre lot with 18 parking space, majority of them being carports (1 to 1 ratio). Some units have been remodeled over time and offer newer kitchens and bathrooms, vinyl floors, and so on. The building is located about 3 minutes from 580 freeway with a quick and easy commute to Oakland Lake Merritt or a 30 minute drive to downtown San Francisco. Fruitvale BART is literary a 5 minute drive or bike ride south on 35th Ave or 10 minutes on bus. The current owners have made substantial capital expenditures in the property in the past several years. The roof of both buildings have been replaced and recoated in 2024 and 2025 at a cost of approximately $40,000. The property has been earthquake retrofitted at a cost of about $110,000 in 2024. And the units have been extensively rehabbed upon turnover.

16. 2023-11-19
    historical $1,595
17. 2023-10-08
    listed $1,595
18. 2004-04-16
    soldstatus $1,635,000
19. 1994-07-29
    soldstatus $618,000
20. 1983-05-20
    soldstatus $375,000

ⓘ 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: $45,468 · $3,789/mo
• Projected year-2 tax: $45,468 · $3,789/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: $405,876
• − Mortgage interest: −$148,441
• − Property taxes: −$45,468
• − Insurance: −$13,250
• − Repairs & maintenance: −$32,470
• − Management: −$32,470
• − Depreciation: −$77,091
• Taxable income: $56,686
• Est. tax owed @ 24.0%: −$13,605
• After-tax cash flow: $81,557/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

+606.7% since first listed

6 events — show timeline

• 2026-02-16 Listed $2,650,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2023-11-19 Rental Removed $1,595 RENT.
• 2023-10-08 Listed for Rent $1,595 RENT.
• 2004-04-16 Sold (Public Records) $1,635,000 Public Records
• 1994-07-29 Sold (Public Records) $618,000 Public Records
• 1983-05-20 Sold (Public Records) $375,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $45,468 · +4.9% YoY. Source: county tax records.