East Bay guide · Tier A · Rank #8 of 87
House hacking in Oakland (San Antonio / East Lake Merritt / Brooklyn Basin).
Brooklyn Basin, a 64-acre waterfront build-out of about 3,100 units plus 200k sqft commercial, is actively delivering, with full-length Tempo BRT and Lake Merritt BART serving the ZIP.
What's actually happening in 94606
- Under construction / delivered
Brooklyn Basin: Parcel H under construction; Foon Lok East (124 units) delivered 2025. SF YIMBY
- Operational
Tempo BRT runs full-length through the ZIP, plus Lake Merritt BART. AC Transit
- Planning designation
Oakland General Plan Phase 1 upzoning along International Blvd. City of Oakland
The numbers
- Median price
- ~Oakland proxy (mixed new waterfront and old flats)
- Market rent
- Oakland proxy $2,250/mo (2bd $2,588; Zumper, Jun 2026)
- Property tax (Alameda County)
- ~1.71% effective (Oakland city median; new purchases reassess at price)
- Per-bed rent band
- $950–1,350/mo per bed
- ADU rent band
- $1,900–2,400/mo
- Whole-home rent band
- 2bd $2,588 / 3bd $3,100 whole-home
- Underwriting vacancy
- 5% underwriting vacancy
- Appreciation scenarios
- 2.0 / 3.5 / 4.5 %/yr (conservative / base / upside)
Mixed stock: new waterfront deliveries next to old San Antonio flats. Appreciation basis: Brooklyn Basin actively building plus Tempo frequency; mixed new and old stock. Rent bands are city-level medians; confirm the specific parcel before trusting any of them. Run your own scenario in the calculator.
Buildings we underwrote in 94606
21 buildings in 94606 carry a record. 3 beat renting and index funds, 1 rejected; the rest did not. Every row links to its own page, with the numbers it was scored on.
| Property | At our defaults | Status |
|---|---|---|
| 4-unit building · San Antonio Members 4 units | +$179,484 House-Hack | Underwritten — beats renting and index funds, below the publish cut |
| 2051 23rd Ave 4 units · $615,000 | +$33,799 House-Hack | Underwritten — beats renting and index funds, below the publish cut |
| 950 Loomis Ct 2 units · $450,000 | +$66,119 House-Hack | Underwritten — beats renting and index funds, below the publish cut |
| 2048 13th Ave 2 units · $835,000 | −$57,356 S&P 500 | Underwritten — the index wins at our defaults |
| 2445 10th Ave 2 units · $529,000 | −$127,764 S&P 500 | Underwritten — the index wins at our defaults |
| 2533 19th Ave 2 units · $599,000 | −$197,666 S&P 500 | Underwritten — the index wins at our defaults |
| 1625 7th Ave 2 units · $635,000 | −$207,457 S&P 500 | Underwritten — the index wins at our defaults |
| 1820 International Blvd 2 units · $699,000 | −$229,793 S&P 500 | Underwritten — the index wins at our defaults |
| 2120 E 22nd St 2 units · $849,000 | −$250,373 S&P 500 | Underwritten — the index wins at our defaults |
| 1723 21st Ave 2 units · $839,000 | −$297,916 S&P 500 | Underwritten — the index wins at our defaults |
| 1712 E 21st St 2 units · $699,000 | −$318,599 S&P 500 | Underwritten — the index wins at our defaults |
| 414 E 12th St 2 units · $798,000 | −$374,971 S&P 500 | Underwritten — the index wins at our defaults |
| 1011 E 11th St 2 units · $850,000 | −$466,679 S&P 500 | Underwritten — the index wins at our defaults |
| 832 7th Ave 2 units · $999,000 | −$470,339 S&P 500 | Underwritten — the index wins at our defaults |
| 2136 Foothill Blvd 2 units · $768,000 | −$476,159 S&P 500 | Underwritten — the index wins at our defaults |
| 1620 12th Ave 2 units · $825,000 | −$529,083 S&P 500 | Underwritten — the index wins at our defaults |
| 2116 International Blvd 2 units · $1,280,000 | −$882,409 S&P 500 | Underwritten — the index wins at our defaults |
| 2742 Park Blvd 2 units · $1,395,000 | −$1,321,954 S&P 500 | Underwritten — the index wins at our defaults |
| 459 Stow Ave 2 units · $1,485,000 | −$1,386,671 S&P 500 | Underwritten — the index wins at our defaults |
| 339 Hanover Ave 2 units · $1,495,000 | −$1,397,741 S&P 500 | Underwritten — the index wins at our defaults |
| 220 International Blvd | — no verdict on file | Rejected — Out of scope: after this week's run, the listing record we verified showed it is commercial. We underwrite residential buildings of two to four homes only, so it is not on the board. |
The full board shows every region's current week; this table is every record we hold for 94606, newest basis first.
The house-hack angle
Old San Antonio flats a few blocks off the waterfront, plus room rentals riding the Brooklyn Basin build-out; Tempo covers the full length of International through the ZIP.
What breaks it
- Oakland's 1.71% tax needs roughly 40–60 bps more rent coverage than San Leandro or Concord
- Oakland commuter rooms are among the more exposed in a rent-softness stress: model 5% vacancy anyway
- City-proxy rents: re-comp at the property level