Historic Duplex with Hardwood
For Sale
$765,000
3537 Kempton Wy, Oakland, CA 94611
MULTI_FAMILY - Oakland, CA
Property Size2,992 SF
Lot Size0.09 Acres
Price / SF$255.68
Days on Market526
Property Features for 3537 Kempton Wy
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Rooms
Bedroom 2, Basement, Bedroom 1, Bedroom 4, Bedroom 3
Interior features
Tub w/Shower Over
Exterior features
Back Yard
Fireplace
1
Appliances
Gas Water Heater
Subdivision
PIEDMONT AVENUE
Lot features
Sloped Down
Standard status
Active
APN
0100807009
Size
2,992 SF
Lot size
0.09 Acres
Utilities
Sewer type
Public Sewer
Heating system
Space Heater, Gravity
Water source
Public
Building Details
Year built
1902
Flooring type
Hardwood
Building materials
Wood Shingles
Listing Agency:
Corcoran Icon Properties · Better Homes and Gardens Real Estate
(510) 428-0900
Listed By:
Phillip L. Fair · License #00770636
(510) 719-6406
Added: Feb 27, 2025
Changed: Aug 7
Last Checked: Aug 7 at 7:06AM
MLS# 41086305
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.
Built in 1902, this 2,992-square-foot duplex includes two residential units on a 0.0872-acre parcel. Hardwood flooring runs through the upper unit, while the lower unit includes a fireplace with a large mantel, an attached basement, and a garage. The property also features a backyard, wood-shingle construction, a gas water heater, space and gravity heating, and public water and sewer service.
Located on Kempton Way in Oakland, the duplex is near transportation and Piedmont Avenue. A Walk Score of 81 reflects proximity to cafes, restaurants, shops, Kaiser, and other businesses. The room inventory includes four bedrooms and a basement.
Located on Kempton Way in Oakland, the duplex is near transportation and Piedmont Avenue. A Walk Score of 81 reflects proximity to cafes, restaurants, shops, Kaiser, and other businesses. The room inventory includes four bedrooms and a basement.
Key Highlights
- 2,992 SF duplex built in 1902
- 0.0872‑acre parcel with backyard
- Hardwood flooring in the upper unit and throughout the property
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
$55,204
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
7.22%
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%
$1,104,080
$1.1M
Cap Rate 7%
$788,629
$788.6K
Cap Rate 9%
$613,378
$613.4K
Market Conditions
NOI Build-Up for 2,992 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
$82.6K $27.60/SF
− Vacancy
−$3.7K −$1.24/SF
EGI
$78.9K $26.36/SF
− OpEx
−$23.7K −$7.91/SF
NOI
$55.2K $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%
$1,104,080
Cap Rate 7%
$788,629
Cap Rate 9%
$613,378
Alternative Uses
Best Use
Multifamily LT 5
$788.6K
$690.1K – $920.1K
NOI $55,204 @ 7.0% cap · market cap 7.22%
Second Best
Apartment 5plus
$729.7K
$638.5K – $851.3K
NOI $51,078 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,228 @ 7.0% cap · market cap 11.53%
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
6,619
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
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 residential units include a basement, garage, and backyard on a walkable Oakland street.
Where is this duplex located?
The property is located at 3537 Kempton Wy Oakland, CA.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: 2,992 SF duplex built in 1902; 0.0872‑acre parcel with backyard; Hardwood flooring in the upper unit and throughout the property
