Oakland Triplex Near Pill
2832 Summit St Oakland, CA 94609
2832 Summit St, Oakland, CA, 94609
$1,470,000
For Sale
$1,470,000
MULTI_FAMILY - Oakland, CA
Property Size3,656 SF
Lot Size0.09 Acres
Price / SF$402.08
Days on Market72
Property Features for 2832 Summit St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- CC2
- Bedrooms
- 11
- Rooms
- Bedroom 7, Bedroom 9, Bedroom 6, Bedroom 3, Bedroom 1, Bedroom 2, Bedroom 4, Bedroom 5, Bedroom 8, Bedroom 10, Bedroom 11
- Parking features
- Parking Lot, Covered
- Exterior features
- Yard Space
- Fencing
- Fenced, Partial
- Appliances
- Dryer, Washer, Gas Water Heater
- Standard status
- Active
- APN
- 968717
- Size
- 3,656 SF
- Lot size
- 0.09 Acres
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Water source
- Public
Building Details
- Year built
- 1945
- Flooring type
- Vinyl, Tile
- Building materials
- Stucco
Listing agency
Keller Williams Realty
(925) 934-2900
Listed by
Joey Wang · License #01890931
(510) 592-5554
Added: May 12 Updated: Jul 12 at 5:32AM Checked: Jul 22 at 12:06AM
MLS# 41134372
Copyright © 2026 bridgeMLS. 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 stabilized Oakland triplex is located in the Pill Hill neighborhood, within walking distance of Kaiser Permanente, MacArthur BART, and Lake Merritt. The property features a 2,968 square foot building with 11 bedrooms across three units. The units are configured as follows: a fully renovated 4-bedroom, 2-bathroom flagship unit (delivered vacant), a remodeled 4-bedroom, 2.5-bathroom unit, and a 3-bedroom, 1-bathroom unit. The property has a stabilized NOI of $92,858 and a 6.32% cap rate. Rents are already at market value. Over $63,000 has been invested since 2021, including sewer lateral compliance, dual-pane windows, two unit remodels, exterior paint, and a roof that is under five years old. The property includes six parking spaces, in-unit laundry, and four electric meters. The zoning is CC-2, which allows for ADU or density exploration, subject to verification. The property is currently priced at $1,470,000 ($490K/door). The property is a triplex and has a lot size of 0.091 acres. The building size is 3,656 square feet. The property is located at 2832 Summit St, Oakland, CA 94609.
Key Highlights
- Stabilized Oakland triplex with a 2,968 SF building and 11 bedrooms across three units
- Unit mix includes a renovated 4BR/2BA vacant flagship unit, plus a remodeled 4BR/2.5BA and a 3BR/1BA
- Six parking spaces with covered parking; fenced with partial fencing and yard space
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $125.0k | $34.20 |
| − Vacancy | −$5.3k | −$1.46 |
| EGI | $119.7k | $32.74 |
| − OpEx | −$35.9k | −$9.82 |
| NOI | $83.8k | $22.92 |
3,656 SF · lease $34.20/SF/yr · vacancy 4.27% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $83,787 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$1.10M
$965.0K – $1.29M
NOI $77,197 @ 7.0% cap · market cap 5.25%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Stabilized triplex near Kaiser, BART, and Lake Merritt.
Where is this triplex located?
The property is located at 2832 Summit St Oakland, CA.
What is the asking price?
The asking price for this property is $1,470,000.
What are key features of this property?
This property features: Stabilized Oakland triplex with a 2,968 SF building and 11 bedrooms across three units; Unit mix includes a renovated 4BR/2BA vacant flagship unit, plus a remodeled 4BR/2.5BA and a 3BR/1BA; Six parking spaces with covered parking; fenced with partial fencing and yard space
