| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Poor |
| Demographics | 94th | Best |
| Amenities | 47th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 601 Oakland Ave, Oakland, CA, 94611, US |
| Region / Metro | Oakland |
| Year of Construction | 1973 |
| Units | 21 |
| Transaction Date | 2020-08-27 |
| Transaction Price | $7,540,000 |
| Buyer | THREE STEPS PROPERTIES LLC |
| Seller | STANSBURY RONALD F |
601 Oakland Ave, Oakland Multifamily Investment
Positioned in an Urban Core pocket with strong renter concentration and high-cost homeownership, this asset benefits from steady tenant demand and leasing depth, according to WDSuite’s CRE market data. Neighborhood occupancy trends should be weighed against the area’s educated workforce and amenity access when underwriting retention and pricing power.
601 Oakland Ave sits in an Urban Core neighborhood rated B+ among 469 Oakland-Berkeley-Livermore neighborhoods, offering investors a mix of demand drivers and manageable risks. Neighborhood occupancy is below the metro median (ranked 429 out of 469), so lease-up and renewal assumptions should lean conservative. At the same time, a high share of housing units are renter-occupied (60.7%; rank 56 of 469), signaling depth in the tenant base for multifamily.
Amenity access skews favorable: grocery density ranks 33 of 469 (top quartile locally; 98th percentile nationally) and park access ranks 14 of 469 (also top quartile), while restaurants are competitive versus national norms. Limited pharmacies and cafés within the immediate neighborhood suggest residents may rely on nearby districts for certain conveniences, but overall daily-needs access supports renter livability.
Within a 3-mile radius, recent population and household growth, coupled with high educational attainment in the neighborhood (top percentile nationally), point to a qualified renter pool and support for occupancy stability over time. Forward-looking data indicates additional population and household gains by 2028, implying a larger tenant base and potential absorption capacity.
Home values in the neighborhood are elevated versus national norms, which tends to reinforce reliance on rental housing and can aid lease retention. Neighborhood median rents also sit well above national levels; investors should balance revenue potential with rent-to-income considerations when setting renewal strategies.
The property’s 1973 vintage is newer than the neighborhood’s average construction year (1959). That relative age can be a competitive advantage versus older stock, though investors should still plan for modernization of building systems and common areas to meet current renter expectations.
Safety indicators are mixed and should be underwritten with care. The neighborhood’s overall crime rank is 163 out of 469, which is competitive among Oakland-Berkeley-Livermore neighborhoods, while national comparisons show a slightly above-median profile overall (56th percentile). Property crime levels remain higher relative to many U.S. neighborhoods (lower national percentile), but both violent and property offenses have declined sharply year over year, according to WDSuite’s CRE market data. Investors may find that improving trends and an Urban Core context support leasing, while security measures and resident engagement remain prudent line items.
Proximity to major corporate employers supports renter demand through commute convenience and a diversified white-collar employment base. Notable nearby employers include Clorox, Gap, AIG, Charles Schwab, and Salesforce.
- Clorox — consumer goods HQ (1.65 miles) — HQ
- Gap — apparel retail HQ (7.9 miles) — HQ
- Aig — insurance (8.0 miles)
- Charles Schwab — financial services (8.0 miles) — HQ
- Salesforce.com — enterprise software (8.1 miles) — HQ
With 21 units, 601 Oakland Ave offers small-scale exposure to an Urban Core neighborhood where elevated home values and a high renter-occupied share support multifamily demand. According to CRE market data from WDSuite, neighborhood occupancy sits below the metro median, but the surrounding 3-mile area shows population and household growth, pointing to a larger tenant base and potential for absorption. The area’s strong grocery and park access, plus proximity to major employers, underpins day-to-day livability and retention.
Built in 1973, the asset is newer than much of the local housing stock, which can be a competitive edge versus older product while still leaving room for value-add through system upgrades and cosmetic improvements. Elevated neighborhood rents relative to national benchmarks suggest revenue potential; investors should balance this with affordability pressure and a pragmatic lease management approach.
- Urban Core location with high renter concentration supports demand depth
- 1973 vintage newer than neighborhood average, with value-add modernization upside
- Strong grocery and park access plus nearby employers bolster retention
- Revenue potential from elevated rent context; manage affordability pressure in renewals
- Monitor safety and below-metro occupancy trends; budget for security and leasing initiatives