3732 Grand Ave, Oakland, CA 94610

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$2,600,000

bedrooms

bathrooms

square feet

12,920

Acreage

Open Houses

year built

1952

Full Baths

Half Baths

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The Markchow Group is pleased to present 3732-3744 Grand Avenue, a 15-unit mixed-use investment property on one of Oakland's most walkable, most established commercial corridors. Nine residential units sit above six ground-floor storefronts just steps from the shore of Lake Merritt, the historic Grand Lake Theater, and the beloved Saturday Grand Lake Farmers Market the kind of address that keeps both tenants and retail traffic coming back, and the kind of demand driver that shows up directly in the numbers below. Priced at $2,600,000 ($173,333 per unit), the property is currently 80% occupied, generating $219,363 in current gross income against a 5.39% in-place cap rate. The upside is immediate and documented: two vacant residential units and one vacant commercial space are ready for lease-up at rents supported by leases recently signed within the building itself on Grand Avenue's own retail corridor, where commercial tenants have consistently renewed at the terms this pro forma assumes. Layering in that lease-up alone brings net operating income to $187,860, a 7.23% pro forma cap rate and 9.6x gross rent multiplier at asking. Beyond the vacant units, long-term residential tenancies dating back more than a decade sit well below current market rents a below-market gap that converts to value at turnover under California's vacancy decontrol provisions, in a neighborhood where rents have consistently kept pace with the corridor's popularity. For a leveraged buyer, illustrative underwriting (65% LTV, 6.75% fixed) points to a stabilized debt yield above 11% and a five-year levered return in the mid-teens IRR, before crediting any of that loss-to-lease upside. What makes the opportunity work is how tightly the location and the financials reinforce each other. This isn't a commodity income stream propped up by a single national tenant or a single asset class it's nine residential units and six commercial storefronts, diversified by design, anchored to a corridor with structural, multi-generational demand from Grand Lake, Adams Point, and Piedmont-adjacent renters and shoppers alike, and an I-580 commute corridor that keeps the neighborhood filled. At $173,333 per unit, on a corridor where comparable product rarely trades, 3732-3744 Grand Avenue offers a rare combination: a defensible location and a pro forma that gets there without relying on speculative rent growth.

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MLS number: -

Listing agent: Mark Chow

Listing broker: Compass

Last update: Tuesday, August 18 2026 at 2:49 p.m. EDT

Compass Broker