3732–3744 Grand Avenue | Oakland, CA — 15-Unit Mixed-Use Investment Opportunity
MKD Group is pleased to present 3732–3744 Grand Avenue, a 15-unit mixed-use investment on one of Oakland's most walkable commercial corridors — steps from Lake Merritt, the historic Grand Lake Theater, and the Saturday Grand Lake Farmers Market. Priced at $2,600,000 ($173,333 per unit), the property is currently 80% occupied at a 5.39% in-place cap rate, with two vacant residential units and one vacant commercial space ready for immediate lease-up at rents already proven by leases signed elsewhere in the building.
That lease-up alone brings pro forma NOI to $187,860 — a 7.23% cap rate and 9.6x GRM at asking — with additional, well-documented upside from decade-plus legacy tenancies sitting below market rent, unlocked at turnover under California's vacancy decontrol rules. It's a combination that works precisely because the two halves reinforce each other: a diversified, nine-residential/six-