2120 E 22nd St, Oakland, California 94606, Oakland, 94606 - bed, bath
ACTIVE$698,000
2120 E 22nd St, Oakland, California 94606
0Bed
0Bath
Sqft
5,250Lot
Year Built
1962
Close
-
List price
$698K
Original List price
$698K
Price/Sqft
$0
HOA
-
Days on market
-
Sold On
-
MLS number
41118946
Home ConditionFair
Features
View-
About this home
We found 3 Cons,6 Pros. Rank: price - $698.0K(38th), sqft - 0(50th), beds - undefined(50th), baths - undefined(50th).
This four unit building is a solid opportunity for both investors and owner occupants. Located in the Highland Terrance neighborhood, this building is in a prime location near all the best Oakland has to offer. You have instant rental income, as well as future opportunities! With a pro forma income of ninety four thousand dollars and an 7% cap rate, the upside is clear. It’s a practical setup for anyone who wants immediate potential rather than waiting years for turnover. Offers being reviewed December 23, 2025 at noon.
Nearby schools
3/10
Garfield Elementary School
Public,•K-5•0.3mi
3/10
Manzanita Seed
Public,•K-5•0.5mi
4/10
Bella Vista Elementary School
Public,•K-5•0.7mi
3/10
International Community School
Public,•K-5•0.8mi
5/10
Think College Now School
Public,•K-5•0.8mi
3/10
Franklin Elementary School
Public,•K-5•0.9mi
7/10
Cleveland Elementary School
Public,•K-5•1.1mi
5/10
Glenview Elementary School
Public,•K-5•1.3mi
9/10
Crocker Highlands Elementary School
Public,•K-5•1.4mi
6/10
Henry Haight Elementary School
Public,•K-5•1.8mi
8/10
Lincoln Elementary School
Public,•K-5•2.0mi
2/10
Piedmont Avenue Elementary School
Public,•K-5•2.8mi
4/10
Roosevelt Middle School
Public,•6-8•0.3mi
4/10
Urban Promise Academy
Public,•6-8•0.7mi
6/10
Edna Brewer Middle School
Public,•6-8•0.9mi
3/10
United For Success Academy
Public,•6-8•1.0mi
3/10
La Escuelita Elementary School
Public,•K-8•1.4mi
2/10
Bret Harte Middle School
Public,•6-9•1.6mi
2/10
Westlake Middle School
Public,•6-8•2.2mi
5/10
Will C. Wood Middle School
Public,•6-8•2.5mi
4/10
Oakland High School
Public,•9-12•1.0mi
2/10
Fremont High
Public,•9-12•1.7mi
7/10
Oakland Technical High School
Public,•9-12•3.1mi
2/10
Oakland International High School
Public,•9-12•3.3mi
7/10
Encinal Junior/Senior High
Public,•6-12•3.3mi
4/10
Skyline High School
Public,•9-12•3.8mi
Price History
Date
Event
Price
12/09/25
Listing
$698,000
02/28/19
Sold
$1,100,000
09/22/17
Sold
$805,000
01/07/11
Sold
$300,000
Condition Rating
Fair
Built in 1962, this property is over 60 years old. While some areas show signs of recent, budget-friendly updates (e.g., laminate flooring, basic bathroom vanities, subway tile backsplash in one kitchen), other areas feature older materials like worn carpet, dated ceramic tile, and older kitchen cabinets. A significant visible defect is a hole in the ceiling of one bathroom, indicating a needed repair. The kitchens and bathrooms are generally outdated in style and features, and heating appears to be via older wall heaters. The property is aged and has received occasional, piecemeal updates, but requires minor repairs and substantial modernization to meet current quality standards, aligning with the 'Fair' condition criteria.
Pros & Cons
Pros
Great Schools: Elementary School: Crocker Highlands Elementary School (9/10).
Multi-Unit Income Property: This four-unit building (quadruplex) offers immediate rental income, making it a solid opportunity for investors seeking cash flow.
Strong Investment Potential: Advertised with a pro forma income of $94,000 and a 7% cap rate, indicating clear financial upside and an attractive return on investment.
Prime Oakland Location: Located in the desirable Highland Terrace neighborhood, providing proximity to Oakland's amenities and strong potential for tenant demand.
Versatile Buyer Appeal: The property is suitable for both investors and owner-occupants, broadening the potential buyer pool and offering flexibility for living in one unit while renting out others.
Potential Value Acquisition: The current list price of $698,000 is significantly lower than its 2019 sale price of $1.1 million, potentially offering a strong value opportunity for a savvy buyer.
Cons
Significant Price Depreciation: The current list price is substantially lower than its 2019 sale price ($1.1M), which raises questions about the property's condition, market changes, or other underlying issues that require thorough due diligence.
Age of Property: Built in 1962, the building is over 60 years old, suggesting potential for outdated systems (plumbing, electrical), deferred maintenance, and higher capital expenditure requirements for future upgrades or repairs.
Lack of Unit Specifics: The description provides no details regarding the interior condition, recent renovations, or amenities of the individual units, which may imply they are in original or dated condition requiring immediate investment.