2802 38th Ave, Oakland CA 94619

2802 38th Avenue, Oakland presents a compelling mixed-use investment opportunity with immediate cash flow and strong upside potential. The property consists of three residential units—two 2BR/1BA units and one 3BR/1BA unit—along with one commercial space, providing diversified income streams and reduced vacancy risk. Currently generating approximately $7,500/month ($90,000+ annually), this asset offers solid in-place income with projected upside to $90,384+ annually. With tenants responsible for most utilities, operating expenses remain low, contributing to a favorable net operating income (NOI) profile. At an asking price of $788,999, the property is projected to deliver an attractive cap rate in the ~7% range (buyer to verify), making it a strong addition to any income-focused portfolio. Strategically located in the Allendale neighborhood, the property benefits from proximity to I-580, offering convenient access to Downtown Oakland and San Francisco. Nearby retail corridors along Fruitvale Avenue and MacArthur Boulevard enhance tenant demand and long-term rental stability. This is a low-maintenance, high-yield asset ideal for investors seeking cash flow, diversification, and long-term appreciation in a growing East Bay market.