Three-Unit Residential Income
New
For Sale
$999,000
208 Ridgeway AVE, Oakland, CA 94611
Residential Income (2-4 units), OAKLAND, CA
Property Size2,344 SF
Lot Size0.12 Acres
Price / SF$426.19
Days on Market2
Property Features for 208 Ridgeway AVE
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R3
Bedrooms
4
Rooms
Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
Parking features
Carport
Standard status
Active
Size
2,344 SF
Lot size
0.12 Acres
Utilities
Heating system
Floor Furnace, Electric (Heating)
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1925
Number of units
3
Roof type
Composition
Listing Agency:
KW Bay Area Estates · Keller Williams Realty
(408) 560-9000
Listed By:
Spencer Yuan · License #01522071
(408) 892-1720
Added: Sep 24
Last Checked: Sep 25 at 6:06AM
MLS# ML82062556
Copyright © 2026 MLS Listings, Inc. 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 Oakland triplex contains 2,344 square feet across three residences and was built in 1925. One home has two bedrooms, a bonus room, one bathroom, and in-unit washer and dryer; the other two each have one bedroom and one bathroom. The property is fully occupied and includes carport parking, wall-unit cooling, and floor-furnace and electric heating. It sits on a 0.116-acre lot and is zoned R3.
The property is near Piedmont Avenue shops and restaurants, Kaiser Permanente, Temescal, and Rockridge. Highway 580 and BART are also identified as nearby access options.
The property is near Piedmont Avenue shops and restaurants, Kaiser Permanente, Temescal, and Rockridge. Highway 580 and BART are also identified as nearby access options.
Key Highlights
- Three residences: one two‑bedroom unit with bonus room and in‑unit washer and dryer; two one‑bedroom units
- 2,344 square feet on a 0.116‑acre lot
- Fully occupied triplex
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
$43,248
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
4.33%
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%
$864,960
$865.0K
Cap Rate 7%
$617,829
$617.8K
Cap Rate 9%
$480,533
$480.5K
Market Conditions
NOI Build-Up for 2,344 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
$64.7K $27.60/SF
− Vacancy
−$2.9K −$1.24/SF
EGI
$61.8K $26.36/SF
− OpEx
−$18.5K −$7.91/SF
NOI
$43.2K $18.45/SF
Area
ZIP 94611
Vacancy
4.50%
Lease Rate
$27.60 /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%
$864,960
Cap Rate 7%
$617,829
Cap Rate 9%
$480,533
Alternative Uses
Best Use
Multifamily LT 5
$617.8K
$540.6K – $720.8K
NOI $43,248 @ 7.0% cap · market cap 4.33%
Second Best
Apartment 5plus
$571.7K
$500.2K – $666.9K
NOI $40,016 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$987.4K
$864.0K – $1.15M
NOI $69,120 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,617
Businesses Nearby
Explore this area
Business Placement
Demographics for 94611, CA
40,262
Population
19,014
Households
2.1
Avg Household Size
44
Median Age
78%
College-Educated
97%
High-School Grad
7.3 sq mi
ZIP Area
5,515
Density / Sq Mi
$176,517
Median Household Income
$105,393
Median Earnings
$2,274
Median Rent
$1,485,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - The unit mix includes one two-bedroom residence with a bonus room and two one-bedroom residences.
Where is this triplex located?
The property is located at 208 Ridgeway AVE Oakland, CA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Three residences: one two‑bedroom unit with bonus room and in‑unit washer and dryer; two one‑bedroom units; 2,344 square feet on a 0.116‑acre lot; Fully occupied triplex
