Vacant Duplex with Detached
For Sale
$495,000
Pending
4239 Howe St, Oakland, CA 94611
Residential Income, Oakland, CA
Property Size1,524 SF
Lot Size0.10 Acres
Days on Market26
Property Features for 4239 Howe St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM-2
Bedrooms
2
Rooms
Bedroom 2, Bedroom 1
Parking
2
Interior features
Storage Area(s)
Exterior features
Back Yard, Front Yard, Yard Space
Fencing
Fenced
Appliances
Gas Water Heater
Subdivision
PIEDMONT AVENUE
Lot features
Back Yard, Front Yard, Paved
Standard status
Pending
APN
13111410
Size
1,524 SF
Lot size
0.10 Acres
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Water source
Public
Amenities
laundry area
backyard
brick patio
storage shed
sun house
Building Details
Year built
1905
Flooring type
Tile, Hardwood
Building materials
Frame, Wood Siding
Additional Structures
Storage
Listing Agency:
Keller Williams Realty
(925) 934-2900
Listed By:
Joey Wang · License #01890931
(510) 592-5554
Added: Aug 11
Changed: Sep 2
Last Checked: Sep 5 at 11:06AM
MLS# 41144628
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 1,524-square-foot duplex sits on a 0.1004-acre lot and includes two vacant units, two detached garages, and a dedicated laundry area with washer and dryer hookups. The property also offers storage, fenced front and back yard areas, a brick patio, storage shed, and a sun house that can function as a studio or office. One unit was refreshed in 2026. Built in 1905, the property has frame construction with wood siding, hardwood and tile flooring, wall-furnace heating, a gas water heater, public water, and public sewer.
The RM-2-zoned property is next to Kaiser Oakland and one block from Piedmont Avenue. MacArthur BART is within walking distance. Separate gas and electric meters allow each unit to be billed independently, while a 2013 sewer lateral replacement maintains EBMUD compliance through 2033. Both units are vacant, supporting either a new lease-up or owner-occupancy strategy.
The RM-2-zoned property is next to Kaiser Oakland and one block from Piedmont Avenue. MacArthur BART is within walking distance. Separate gas and electric meters allow each unit to be billed independently, while a 2013 sewer lateral replacement maintains EBMUD compliance through 2033. Both units are vacant, supporting either a new lease-up or owner-occupancy strategy.
Key Highlights
- Two‑unit duplex with both residences delivered vacant
- 1,524 square feet on a 0.1004‑acre lot; RM‑2 zoning
- Two detached garages plus laundry hookups, storage, patio, shed, and sun house
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
$28,119
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
5.68%
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%
$562,380
$562.4K
Cap Rate 7%
$401,700
$401.7K
Cap Rate 9%
$312,433
$312.4K
Market Conditions
NOI Build-Up for 1,524 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
$42.1K $27.60/SF
− Vacancy
−$1.9K −$1.24/SF
EGI
$40.2K $26.36/SF
− OpEx
−$12.1K −$7.91/SF
NOI
$28.1K $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%
$562,380
Cap Rate 7%
$401,700
Cap Rate 9%
$312,433
Alternative Uses
Best Use
Multifamily LT 5
$401.7K
$351.5K – $468.7K
NOI $28,119 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$371.7K
$325.2K – $433.6K
NOI $26,017 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$642.0K
$561.8K – $749.0K
NOI $44,940 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
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
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 separate utility meters support independent household billing.
Where is this duplex located?
The property is located at 4239 Howe St Oakland, CA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two‑unit duplex with both residences delivered vacant; 1,524 square feet on a 0.1004‑acre lot; RM‑2 zoning; Two detached garages plus laundry hookups, storage, patio, shed, and sun house
