Well-Maintained Duplex with Private
For Sale
$1,249,900
1024 Elsinore Ave, Oakland, CA 94602
Residential Income, Oakland, CA
Property Size2,127 SF
Lot Size0.10 Acres
Price / SF$587.64
Days on Market199
Property Features for 1024 Elsinore Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Rooms
Bedroom 4, Bedroom 5, Bedroom 3, Bedroom 1, Bedroom 2
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
Building Details
Year built
1919
Flooring type
Wood, Tile
Building materials
Stucco
Listing Agency:
Corcoran Icon Properties · Better Homes and Gardens Real Estate
(510) 428-0900
Listed By:
Nicholas Brown · License #02248460
(650) 787-3381
Added: Mar 10
Changed: Sep 16
Last Checked: Sep 24 at 7:06PM
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 2,127-square-foot duplex sits on a 0.101-acre lot and includes two residential units. The lower unit has 2 bedrooms and 1 bathroom, will be delivered vacant, and includes a private deck. The upper unit provides 3 bedrooms and 2 bathrooms and may also become available. Each unit has its own parking space. The property was built in 1919 and features stucco construction, wood and tile flooring, wall furnace heating, central air, a fireplace, and washer and dryer appliances.
Located in Oakland’s Glenview neighborhood, the property has public water and public sewer service. Its two-unit configuration, separate parking, and lower-unit vacancy provide a range of owner-occupant and rental-use possibilities supported by the existing layout.
Located in Oakland’s Glenview neighborhood, the property has public water and public sewer service. Its two-unit configuration, separate parking, and lower-unit vacancy provide a range of owner-occupant and rental-use possibilities supported by the existing layout.
Key Highlights
- 2,127‑square‑foot duplex on a 0.101‑acre lot
- Lower unit includes 2 bedrooms, 1 bathroom, and a private deck
- Upper unit offers 3 bedrooms and 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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer separate living areas, dedicated parking, and a private deck serving the lower unit.
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: 2,127‑square‑foot duplex on a 0.101‑acre lot; Lower unit includes 2 bedrooms, 1 bathroom, and a private deck; Upper unit offers 3 bedrooms and 2 bathrooms
