Two-Unit Duplex
For Sale
$599,999
10209 & 10211 Pippin St, Oakland, CA 94603
Oakland duplex with separate residences and access to shopping, dining, transportation, schools, and daily amenities.
Property Size1,361 SF
Price / SF$440.85
Days on Market12
Property Features for 10209 & 10211 Pippin St
General Information
Standard status
Active
Size
1,361 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1915
Listing Agency:
Real Brokerage Technologies
(510) 435-1347
Listed By:
Alondra Rosas · License #02205313
(510) 435-1347
Source:
Exitrealty
Added: Aug 22
Changed: Sep 2
Last Checked: Sep 1 at 4:47PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Brokerage Technologies
Investment Insights
Based on property information with market context.
This Oakland duplex contains two separate residential units within one property. The configuration provides distinct living spaces and supports multiple occupancy arrangements, including an owner-occupied setup with a second unit available for rental use or extended-family living. The property was built in 1915 and has a listed property size of 1,361.
Located at 10209 & 10211 Pippin St, the property offers access to nearby shopping, dining, transportation, schools, and everyday amenities. Its two-unit layout provides flexibility for residential income use, personal occupancy, or a combination of both.
Located at 10209 & 10211 Pippin St, the property offers access to nearby shopping, dining, transportation, schools, and everyday amenities. Its two-unit layout provides flexibility for residential income use, personal occupancy, or a combination of both.
Key Highlights
- Two separate residential units within one property
- Listed property size of 1,361
- Built in 1915
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
$27,792
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
4.63%
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%
$555,840
$555.8K
Cap Rate 7%
$397,029
$397.0K
Cap Rate 9%
$308,800
$308.8K
Market Conditions
NOI Build-Up for 1,361 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
$42.5K $31.20/SF
− Vacancy
−$2.8K −$2.03/SF
EGI
$39.7K $29.17/SF
− OpEx
−$11.9K −$8.75/SF
NOI
$27.8K $20.42/SF
Area
ZIP 94603
Vacancy
6.50%
Lease Rate
$31.20 /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%
$555,840
Cap Rate 7%
$397,029
Cap Rate 9%
$308,800
Alternative Uses
Best Use
Multifamily LT 5
$397.0K
$347.4K – $463.2K
NOI $27,792 @ 7.0% cap · market cap 4.63%
Second Best
Apartment 5plus
$368.3K
$322.3K – $429.7K
NOI $25,783 @ 7.0% cap · market cap 4.30%
Theoretical Best
—
—
same as Best Use
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
718
Businesses Nearby
Explore this area
Business Placement
Demographics for 94603, CA
36,681
Population
11,199
Households
3.3
Avg Household Size
32
Median Age
15%
College-Educated
69%
High-School Grad
2.7 sq mi
ZIP Area
13,586
Density / Sq Mi
$71,086
Median Household Income
$37,025
Median Earnings
$1,838
Median Rent
$596,100
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 - Oakland duplex with separate residences and access to shopping, dining, transportation, schools, and daily amenities.
Where is this duplex located?
The property is located at 10209 & 10211 Pippin St Oakland, CA.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Two separate residential units within one property; Listed property size of 1,361; Built in 1915
