Duplex with Fenced
For Sale
$499,999
Pending
2123-2125 High St, Oakland, CA 94601
Residential Income, Oakland, CA
Property Size1,822 SF
Lot Size0.11 Acres
Days on Market341
Property Features for 2123-2125 High St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 3, Bedroom 1, Bathroom 4, Bathroom 2, Bathroom 7, Bathroom 1, Bedroom 4, Bathroom 8, Bedroom 2, Bathroom 5, Bathroom 6, Bathroom 3
Parking features
Parking Lot, Garage
Exterior features
Back Yard, Front Yard
Fireplace
1
Appliances
Gas Water Heater
Subdivision
Laurel/Fruitvale
Lot features
Level, Sloped Up
Directions
880 or 580 to High St
Special listing conditions
Short Sale
Standard status
Pending
APN
32208214
Size
1,822 SF
Lot size
0.11 Acres
Utilities
Sewer type
Public Sewer
Heating system
Floor Furnace
Water source
Public
Amenities
fenced backyard
Building Details
Year built
1933
Number of units
2
Flooring type
Linoleum, Hardwood
Building materials
Stucco
Listing Agency:
EXP Realty of California, Inc
(888) 584-9427
Listed By:
Diane Johansen · License #1415547
(510) 376-3590
Added: Oct 20, 2025
Changed: Sep 14
Last Checked: Sep 25 at 6:06AM
MLS# 41115309
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 1,822-square-foot duplex, built in 1933, contains two residential units, each described with two bedrooms and two bathrooms. The property requires renovation and includes hardwood and linoleum flooring, stucco construction, a gas water heater, floor-furnace heating, and a fireplace. Both residences have their own fenced backyard, while the site also provides front-yard space, a garage, and lot parking. The garage has been framed for a possible third unit; permit status is unknown.
Located on High Street in Oakland’s Laurel District/Fruitvale area, the property offers access to I-580, I-880, Highway 13, BART, nearby schools, shopping, dining, parks, and hiking areas. Public water and public sewer serve the property. The parcel encompasses 0.1143 acres.
Located on High Street in Oakland’s Laurel District/Fruitvale area, the property offers access to I-580, I-880, Highway 13, BART, nearby schools, shopping, dining, parks, and hiking areas. Public water and public sewer serve the property. The parcel encompasses 0.1143 acres.
Key Highlights
- Two‑unit duplex with two bedrooms and two bathrooms described for each residence
- 1,822 square feet on a 0.1143‑acre parcel
- Each unit has its own fenced backyard
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
$41,787
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
8.36%
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%
$835,740
$835.7K
Cap Rate 7%
$596,957
$597.0K
Cap Rate 9%
$464,300
$464.3K
Market Conditions
NOI Build-Up for 1,822 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
$62.3K $34.20/SF
− Vacancy
−$2.6K −$1.44/SF
EGI
$59.7K $32.76/SF
− OpEx
−$17.9K −$9.83/SF
NOI
$41.8K $22.93/SF
Area
ZIP 94601
Vacancy
4.20%
Lease Rate
$34.20 /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%
$835,740
Cap Rate 7%
$596,957
Cap Rate 9%
$464,300
Alternative Uses
Best Use
Multifamily LT 5
$597.0K
$522.3K – $696.5K
NOI $41,787 @ 7.0% cap · market cap 8.36%
Second Best
Apartment 5plus
$554.2K
$484.9K – $646.6K
NOI $38,794 @ 7.0% cap · market cap 7.76%
Theoretical Best
Office A
$742.7K
$649.8K – $866.5K
NOI $51,987 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,323
Businesses Nearby
Explore this area
Business Placement
Demographics for 94601, CA
54,166
Population
17,454
Households
3.1
Avg Household Size
35
Median Age
24%
College-Educated
70%
High-School Grad
3.2 sq mi
ZIP Area
16,927
Density / Sq Mi
$66,651
Median Household Income
$37,765
Median Earnings
$1,651
Median Rent
$703,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with garage parking, public utilities, and renovation needs.
Where is this duplex located?
The property is located at 2123-2125 High St Oakland, CA.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: Two‑unit duplex with two bedrooms and two bathrooms described for each residence; 1,822 square feet on a 0.1143‑acre parcel; Each unit has its own fenced backyard
