550 Fairmount Ave Oakland, CA 94611
Grand Lake NeighborhoodEstimated payment $16,015/month
Highlights
- Corner Lot
- No HOA
- Vinyl Flooring
- Oakland Technical High School Rated A
- Baseboard Heating
About This Home
550 Fairmount Ave presents the opportunity to acquire a 10-unit apartment community in Grand Lake, one of Oakland's most consistently in-demand rental neighborhoods. The three-story 1963 building comprises six 1BR/1BA and four 2BR/1BA units totaling 6,632 SF on a 6,900 SF lot, set over covered off-street parking with five spaces generating additional income. Eight of the ten units have been updated leaving a clear, low-capital path to completing the program. The investment case pairs dependable in-place revenue with incredible upside: scheduled income of $19,509 per month against market rents of $26,350, an approximately 35% gap rooted in tenancies dating to 2006. At $2,295,000, the offering trades at a 7.0% current CAP and 9.3 GRM, rising to a 10.1% CAP as units turn to market. Steps from the Grand Avenue and Lakeshore retail corridors, the Grand Lake Theatre, and Lake Merritt, with MacArthur BART one mile away and immediate I-580 access, putting downtown Oakland and San Francisco within easy reach. A rare Grand Lake value-add at $229,500 per unit.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1963
Lot Details
- 6,900 Sq Ft Lot
- Corner Lot
Parking
- 2 Carport Spaces
Home Design
- Stucco
Interior Spaces
- 6,632 Sq Ft Home
- Vinyl Flooring
Utilities
- No Cooling
- Baseboard Heating
Community Details
- No Home Owners Association
- Bridge Aor Association
- Oakland Subdivision
Listing and Financial Details
- Tax Tract Number 4040
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2026 | $35,521 | $2,109,397 | $1,033,568 | $1,075,829 |
| 2025 | $35,521 | $2,068,046 | $1,013,307 | $1,054,739 |
| 2024 | $34,012 | $2,027,497 | $993,439 | $1,034,058 |
| 2023 | $35,435 | $1,987,753 | $973,965 | $1,013,788 |
| 2022 | $33,944 | $1,948,778 | $954,868 | $993,910 |
| 2021 | $31,668 | $1,910,571 | $936,147 | $974,424 |
| 2020 | $31,400 | $1,898,937 | $926,551 | $972,386 |
| 2019 | $29,697 | $1,861,866 | $908,387 | $953,479 |
| 2018 | $29,058 | $1,825,528 | $890,582 | $934,946 |
| 2017 | $27,692 | $1,790,890 | $873,120 | $917,770 |
| 2016 | $7,001 | $270,555 | $131,187 | $139,368 |
| 2015 | $6,939 | $266,391 | $129,216 | $137,175 |
| 2014 | $7,215 | $261,211 | $126,686 | $134,525 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 09/16/2026 09/16/26 | For Sale | $2,295,000 | -- | $346 / Sq Ft |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $1,750,000 | Old Republic Title Company |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $2,200,000 | Commercial |
Source: bridgeMLS
MLS Number: 41148486
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
Bay East 2026. CCAR 2026. bridgeMLS 2026. Information Deemed Reliable But Not Guaranteed. This information is being provided by the Bay East MLS, or CCAR MLS, or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website. This information is intended for the personal use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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