Two-Unit Duplex
New
For Sale
$599,999
10209 & 10211 Pippin St, Oakland, CA 94603
Residential Income, Oakland, CA
Property Size1,361 SF
Lot Size0.14 Acres
Price / SF$440.85
Days on Market2
Property Features for 10209 & 10211 Pippin St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R2
Bedrooms
5
Bathrooms
10
Full bathrooms
10
Rooms
Bedroom 1, Bathroom 2, Bathroom 9, Bedroom 5, Bathroom 4, Bathroom 10, Bathroom 8, Bathroom 3, Bedroom 4, Bathroom 5, Bedroom 2, Bedroom 3, Bathroom 7, Bathroom 1, Bathroom 6
Parking features
Covered
Exterior features
No Yard
Subdivision
Stonehurst
Directions
98th Ave to Pippin St...
Standard status
Active
APN
045523400301
Size
1,361 SF
Lot size
0.14 Acres
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
1915
Number of units
2
Flooring type
Carpet, Tile
Building materials
Stucco
Roof type
Composition
Listing Agency:
Real Brokerage Technologies
(855) 450-0442
Listed By:
Alondra Rosas
(510) 435-1347
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 6:06PM
MLS# 41145748
Copyright © 2026 Bay East. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit residential property contains 1361 square feet on a 0.1377-acre lot at 10209 & 10211 Pippin St. Built in 1915, the building features stucco construction, composition roofing, carpet and tile flooring, forced-air heating, central air, ceiling fans, and covered parking. The property also includes public water and public sewer service, with no yard listed.
Located in Oakland, the property is identified as R2 zoning and carries a residential income classification. Its two-unit configuration supports separate residential occupancy within one building, while the covered parking and established utility connections add practical property features.
Located in Oakland, the property is identified as R2 zoning and carries a residential income classification. Its two-unit configuration supports separate residential occupancy within one building, while the covered parking and established utility connections add practical property features.
Key Highlights
- Two separate residential units within one property
- 1361 square feet on a 0.1377‑acre lot
- R2 zoning in Oakland, CA 94603
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,792
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$555,840
$555.8K
Cap Rate 7%
$397,029
$397.0K
Cap Rate 9%
$308,800
$308.8K
Market Conditions
NOI Build-Up for 1,361 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$42.5K $31.20/SF
− Vacancy
−$2.8K −$2.03/SF
EGI
$39.7K $29.17/SF
− OpEx
−$11.9K −$8.75/SF
NOI
$27.8K $20.42/SF
Area
ZIP 94603
Vacancy
6.50%
Lease Rate
$31.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$555,840
Cap Rate 7%
$397,029
Cap Rate 9%
$308,800
Alternative Uses
Best Use
Multifamily LT 5
$397.0K
$347.4K – $463.2K
NOI $27,792 @ 7.0% cap · market cap 4.63%
Second Best
Apartment 5plus
$368.3K
$322.3K – $429.7K
NOI $25,783 @ 7.0% cap · market cap 4.30%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
718
Businesses Nearby
Explore this area
Business Placement
Demographics for 94603, CA
36,681
Population
11,199
Households
3.3
Avg Household Size
32
Median Age
15%
College-Educated
69%
High-School Grad
2.7 sq mi
ZIP Area
13,586
Density / Sq Mi
$71,086
Median Household Income
$37,025
Median Earnings
$1,838
Median Rent
$596,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - R2-zoned residential property with covered parking, central air, and public water and sewer service.
Where is this duplex located?
The property is located at 10209 & 10211 Pippin St Oakland, CA.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Two separate residential units within one property; 1361 square feet on a 0.1377‑acre lot; R2 zoning in Oakland, CA 94603
