Quadplex with Back
For Sale
$499,000
Pending
1602 103rd Ave, Oakland, CA 94603
MULTI_FAMILY - Oakland, CA
Property Size2,394 SF
Lot Size0.12 Acres
Days on Market37
Property Features for 1602 103rd Ave
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 4, Bedroom 3, Bathroom 3, Bedroom 2, Bathroom 1
Exterior features
Back Yard
Subdivision
Ivy Wood Ext.
Lot features
2 Houses / 1 Lot
Directions
USE GPS
Standard status
Pending
APN
47551111
Size
2,394 SF
Lot size
0.12 Acres
Utilities
Water source
Public
Building Details
Year built
1940
Number of units
4
Flooring type
Laminate
Roof type
Composition
Listing Agency:
EXP Realty of California, Inc
(888) 584-9427
Listed By:
Nicholas Liesenfeld · License #01364555
(510) 606-0107
Added: Jul 10
Changed: Aug 3
Last Checked: Aug 15 at 4:06AM
MLS# 41141178
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.
Four-unit quadplex in Oakland’s established Iveywood neighborhood featuring three occupied units and one vacant unit. The property offers approximately 2,394 square feet of living space on a 5,200-square-foot lot (0.1194 acres). Across the four total units, there are four bedrooms and four bathrooms, with laminate flooring and a back yard on site.
Built in 1940, the property includes public water service and a composition roof. It is positioned near neighborhood shopping, dining, public transportation, and major commuter routes, supporting both tenant access and everyday convenience.
This quadplex can suit an owner-user or investor looking to add value over time through enhancement and repositioning of the asset.
Built in 1940, the property includes public water service and a composition roof. It is positioned near neighborhood shopping, dining, public transportation, and major commuter routes, supporting both tenant access and everyday convenience.
This quadplex can suit an owner-user or investor looking to add value over time through enhancement and repositioning of the asset.
Key Highlights
- Three occupied units and one vacant unit in a four‑unit quadplex
- Approximately 2,394 square feet of living space
- 5,200‑square‑foot lot (0.1194 acres)
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
$45,352
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
9.09%
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%
$907,040
$907.0K
Cap Rate 7%
$647,886
$647.9K
Cap Rate 9%
$503,911
$503.9K
Market Conditions
NOI Build-Up for 2,394 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
$87.9K $36.72/SF
− Vacancy
−$5.5K −$2.28/SF
EGI
$82.5K $34.44/SF
− OpEx
−$37.1K −$15.50/SF
NOI
$45.4K $18.94/SF
Area
ZIP 94603
Vacancy
6.20%
Lease Rate
$36.72 /SF/Yr
Expense Ratio
45.00%
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%
$907,040
Cap Rate 7%
$647,886
Cap Rate 9%
$503,911
Alternative Uses
Best Use
Multifamily LT 5
$698.4K
$611.1K – $814.8K
NOI $48,886 @ 7.0% cap · market cap 9.80%
Second Best
Apartment 5plus
$647.9K
$566.9K – $755.9K
NOI $45,352 @ 7.0% cap · market cap 9.09%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
849
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?
Quadplex - Four-unit quadplex in Oakland’s Iveywood neighborhood with three occupied units and one vacant unit, plus a back yard.
Where is this quadplex located?
The property is located at 1602 103rd Ave Oakland, CA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Three occupied units and one vacant unit in a four‑unit quadplex; Approximately 2,394 square feet of living space; 5,200‑square‑foot lot (0.1194 acres)
