Duplex with Private
For Sale
$1,249,900
1024 Elsinore Ave, Oakland, CA 94602
MULTI_FAMILY - Oakland, CA
Property Size2,127 SF
Lot Size0.10 Acres
Price / SF$587.64
Days on Market154
Property Features for 1024 Elsinore Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Rooms
Bedroom 1, Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 4
Parking
2
Fireplace
1
Appliances
Dryer, Washer
Subdivision
GLENVIEW
View
City
Standard status
Active
APN
2455814
Size
2,127 SF
Lot size
0.10 Acres
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Central Air
Water source
Public
Amenities
private deck
Building Details
Year built
1919
Flooring type
Tile, Wood
Building materials
Stucco
Listing Agency:
Corcoran Icon Properties · Better Homes and Gardens Real Estate
(510) 428-0900
Listed By:
Nicholas Brown · License #02248460 (CA)
(650) 787-3381
Added: Mar 10
Changed: Aug 4
Last Checked: Aug 10 at 3:06PM
MLS# 41126627
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 duplex offers two separate living units, with the lower unit featuring 2 bedrooms and 1 bathroom and being delivered vacant. The upper unit offers 3 bedrooms and 2 bathrooms. Both units are described as spacious and well kept, and the property has been maintained by the current owner in very good overall condition.
The home is on a 0.101-acre lot with 2,127 square feet of interior space and was built in 1919. Construction is stucco, and finishes include wood and tile flooring. Heating is provided by wall furnace, and central air is included. A fireplace is also present. Each unit has its own parking space in the garage, and the lower unit includes a private deck with pleasant views.
Utilities include public water and public sewer. Washer and dryer are included, and the property is offered at 1024 Elsinore Ave in Oakland’s Glenview neighborhood.
The home is on a 0.101-acre lot with 2,127 square feet of interior space and was built in 1919. Construction is stucco, and finishes include wood and tile flooring. Heating is provided by wall furnace, and central air is included. A fireplace is also present. Each unit has its own parking space in the garage, and the lower unit includes a private deck with pleasant views.
Utilities include public water and public sewer. Washer and dryer are included, and the property is offered at 1024 Elsinore Ave in Oakland’s Glenview neighborhood.
Key Highlights
- 0.101‑acre lot with 2,127 SF duplex built in 1919
- Lower unit: 2 bedrooms, 1 bathroom, delivered vacant
- Upper unit: 3 bedrooms, 2 bathrooms
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
$48,746
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
3.90%
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%
$974,920
$974.9K
Cap Rate 7%
$696,371
$696.4K
Cap Rate 9%
$541,622
$541.6K
Market Conditions
NOI Build-Up for 2,127 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
$72.7K $34.20/SF
− Vacancy
−$3.1K −$1.46/SF
EGI
$69.6K $32.74/SF
− OpEx
−$20.9K −$9.82/SF
NOI
$48.7K $22.92/SF
Area
Oakland, CA
Vacancy
4.27%
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%
$974,920
Cap Rate 7%
$696,371
Cap Rate 9%
$541,622
Alternative Uses
Best Use
Multifamily LT 5
$696.4K
$609.3K – $812.4K
NOI $48,746 @ 7.0% cap · market cap 3.90%
Second Best
Apartment 5plus
$641.6K
$561.4K – $748.5K
NOI $44,912 @ 7.0% cap · market cap 3.59%
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
659
Businesses Nearby
Explore this area
Business Placement
Demographics for 94602, CA
29,702
Population
13,072
Households
2.3
Avg Household Size
42
Median Age
58%
College-Educated
89%
High-School Grad
3.6 sq mi
ZIP Area
8,251
Density / Sq Mi
$124,744
Median Household Income
$65,401
Median Earnings
$1,924
Median Rent
$1,111,800
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 - Vacant lower 2-bedroom, 1-bath unit and upper 3-bedroom, 2-bath unit, with central air and private deck.
Where is this duplex located?
The property is located at 1024 Elsinore Ave Oakland, CA.
What is the asking price?
The asking price for this property is $1,249,900.
What are key features of this property?
This property features: 0.101‑acre lot with 2,127 SF duplex built in 1919; Lower unit: 2 bedrooms, 1 bathroom, delivered vacant; Upper unit: 3 bedrooms, 2 bathrooms
