3800 Greenwood Ave, Oakland, CA 94602

Dec 6

Written By Jake Glaser

Fully Vacant 4-Plex in Trestle Glen | 6.25% Cap Rate & 10.42 GRM

Download Offering Memorandum

$1,500,000

Property Highlights

Charming 4-Plex nestled within Trestle Glen
Property can be delivered fully vacant
Mix of (3) 2BR/1BA units, and (1) 2BR/1.5BA units
Perfect for a build to suit owner-user with a gutted vacant unit and a spacious private backyard
Property has (3) garages and (2) uncovered parking
Partial horizontal and vertical copper repiping
Units have individual water heaters and forced air
Huge basement currently used for storage
Potential to add ADU where existing 3 car garage is (Buyer to verify)

The Opportunity

The Glaser Group is pleased to present 3800 Greenwood Ave, a well-maintained 4-plex nestled in Trestle Glen within Oakland, CA. This 4,088 square foot property, situated on a 6,970 square foot lot, has been under the same ownership for over 35 years. Built in 1916, it retains its original charm while offering modern improvements, including a new roof, separate water heaters, and partial copper repiping, and some updated units. The property consists of (3) two-bedroom, one-bath units and (1) two-bedroom, one-and-a-half-bath units, each over 1,000 square feet. The property can be delivered fully vacant at the close of Escrow. Additionally, it features three vacant garages and two uncovered parking spaces, creating added value and convenience.

Located just off Park Boulevard and adjacent to Piedmont, the property offers easy access to Lake Merritt, Montclair Village, and Grand Lake, ensuring strong rental demand and long-term appreciation. Beyond the existing income, the property also offers development potential. The garages present an opportunity to add 1-4 ADUs under SB 1211, providing additional rental income (buyer to verify), and the basement storage area offers flexibility for storage. For an owner-user, unit 2’s kitchen and bathroom are down to the studs and presents the chance to redesign and build a dream home while still generating rental income to offset a mortgage. Whether for an investor or owner-user, this property represents a rare and valuable opportunity.