Four-Unit Property with
New
For Sale
$1,100,000
1112 E 28th St, Oakland, CA 94610
Residential Income, Oakland, CA
Property Size3,340 SF
Lot Size0.08 Acres
Price / SF$329.34
Days on Market6
Property Features for 1112 E 28th St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RM-2
Bedrooms
7
Rooms
Bedroom 4, Bedroom 1, Bedroom 6, Bedroom 5, Bedroom 2, Bedroom 7, Bedroom 3
Parking
4
Parking features
Off Street, On Street
Window features
Window Coverings
Interior features
Storage, Storage Area(s), Shower Stall(s), Tub w/Shower Over
Exterior features
Side Yard
Appliances
Gas Water Heater, Tankless Water Heater
Subdivision
BELLA VISTA
Lot features
Corner Lot, Sloped Up, Paved
Standard status
Active
APN
2338819
Size
3,340 SF
Lot size
0.08 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard, Floor Furnace, Wall Furnace
Water source
Public
Building Details
Year built
1907
Flooring type
Vinyl, Tile, Hardwood
Building materials
Stucco, Frame
Additional Structures
Storage
Listing Agency:
Keller Williams Realty
(925) 934-2900
Listed By:
Joey Wang · License #01890931
(510) 592-5554
Added: Sep 11
Changed: Sep 16
Last Checked: Sep 16 at 12:06PM
MLS# 41148097
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 1907, this four-unit residential property contains 3,340 square feet on a 3,600-square-foot corner lot. The building includes four garages, four front entrances, two street addresses, and public water and sewer service. Each residence has its own gas and electric meter. Unit 2802 was renovated in 2026 with wood flooring, a shaker-style kitchen with quartz counters and stainless appliances, a frameless glass shower, in-unit laundry, and a private roof deck of approximately 200 square feet. That unit is vacant, as is the upstairs two-bedroom Unit 1114; the remaining two-bedroom and one-bedroom units are occupied.
The property is located at 1112 E 28th St in Oakland, a few blocks from I-580 and a five-minute walk from AC Transit. Lake Merritt and Highland Hospital are a short drive away. RM-2 zoning and sewer-lateral certification through 2039 are also in place.
The property is located at 1112 E 28th St in Oakland, a few blocks from I-580 and a five-minute walk from AC Transit. Lake Merritt and Highland Hospital are a short drive away. RM-2 zoning and sewer-lateral certification through 2039 are also in place.
Key Highlights
- Four‑unit building with four garages, four front doors, and two street addresses
- 3,340 SF building on a 3,600 SF corner lot
- Unit 2802 renovated in 2026 with private roof deck of roughly 200 SF
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
$76,545
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
6.96%
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%
$1,530,900
$1.5M
Cap Rate 7%
$1,093,500
$1.1M
Cap Rate 9%
$850,500
$850.5K
Market Conditions
NOI Build-Up for 3,340 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
$114.2K $34.20/SF
− Vacancy
−$4.9K −$1.46/SF
EGI
$109.4K $32.74/SF
− OpEx
−$32.8K −$9.82/SF
NOI
$76.5K $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%
$1,530,900
Cap Rate 7%
$1,093,500
Cap Rate 9%
$850,500
Alternative Uses
Best Use
Multifamily LT 5
$1.09M
$956.8K – $1.28M
NOI $76,545 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$1.01M
$881.6K – $1.18M
NOI $70,524 @ 7.0% cap · market cap 6.41%
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
4
Residential units
50%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,173
Businesses Nearby
Explore this area
Business Placement
Demographics for 94610, CA
31,261
Population
17,926
Households
1.7
Avg Household Size
39
Median Age
73%
College-Educated
96%
High-School Grad
2.1 sq mi
ZIP Area
14,886
Density / Sq Mi
$130,435
Median Household Income
$90,577
Median Earnings
$2,184
Median Rent
$1,324,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - RM-2 zoning and separate gas and electric meters serve each unit.
Where is this quadplex located?
The property is located at 1112 E 28th St Oakland, CA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four‑unit building with four garages, four front doors, and two street addresses; 3,340 SF building on a 3,600 SF corner lot; Unit 2802 renovated in 2026 with private roof deck of roughly 200 SF
