Two-Unit Duplex with
For Sale
Contact for pricing
1115 12th Avenue, Oakland, CA 94606
Two separate residential units with four total bedrooms and dedicated parking for income-oriented ownership.
Property Size1,956 SF
Lot Size0.12 Acres
Price / SF$421.78
Days on Market120
Property Features for 1115 12th Avenue
General Information
Standard status
Active
Size
1,956 SF
Lot size
0.12 Acres
Property subtype
Retail
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
CT Square Inc.
Listed By:
Lisa Cheng · License #02211962
Source:
Crexi
Added: May 29
Changed: Sep 11
Last Checked: Sep 24 at 9:31AM
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 CT Square Inc.
Investment Insights
Based on property information with market context.
This duplex property includes two units totaling four bedrooms and two bathrooms, providing a straightforward two-residence setup within a single 1,956 sq ft structure. The site also includes an additional one-bedroom, one-bath unit; however, the legality of this extra unit is not warranted. Parking is available on-site.
The property is located at 1115 12th Avenue in Oakland, CA 94606. The lot size is listed as 5,200 sq ft, giving the property a contained footprint designed for residential use with on-site parking.
For buyers or operators seeking a duplex-style residential income property, the existing two-unit configuration can support flexible occupancy and tenant mix, with a combined four-bedroom, two-bath layout across the main units. The third unit option may add further living flexibility, but prospective purchasers should carefully verify the legal status and permitting for that additional one-bedroom, one-bath unit. With the parking available and the units defined as separate residences, this home can be evaluated as a practical ownership or portfolio asset where on-site residential management is a priority.
The property is located at 1115 12th Avenue in Oakland, CA 94606. The lot size is listed as 5,200 sq ft, giving the property a contained footprint designed for residential use with on-site parking.
For buyers or operators seeking a duplex-style residential income property, the existing two-unit configuration can support flexible occupancy and tenant mix, with a combined four-bedroom, two-bath layout across the main units. The third unit option may add further living flexibility, but prospective purchasers should carefully verify the legal status and permitting for that additional one-bedroom, one-bath unit. With the parking available and the units defined as separate residences, this home can be evaluated as a practical ownership or portfolio asset where on-site residential management is a priority.
Key Highlights
- Two separate residential units totaling 1,956 sq ft
- 2‑unit setup with four total bedrooms across both units
- Includes 4 beds / 2 baths total (plus one extra 1 bed / 1 bath unit noted—legality not warranted)
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
$42,046
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
5.10%
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%
$840,920
$840.9K
Cap Rate 7%
$600,657
$600.7K
Cap Rate 9%
$467,178
$467.2K
Market Conditions
NOI Build-Up for 1,956 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
$63.4K $32.40/SF
− Vacancy
−$3.3K −$1.69/SF
EGI
$60.1K $30.71/SF
− OpEx
−$18.0K −$9.21/SF
NOI
$42.0K $21.50/SF
Area
ZIP 94606
Vacancy
5.22%
Lease Rate
$32.40 /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%
$840,920
Cap Rate 7%
$600,657
Cap Rate 9%
$467,178
Alternative Uses
Best Use
Multifamily LT 5
$600.7K
$525.6K – $700.8K
NOI $42,046 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$549.0K
$480.4K – $640.5K
NOI $38,429 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$891.0K
$779.7K – $1.04M
NOI $62,372 @ 7.0% cap · market cap 7.56%
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
1,427
Businesses Nearby
Explore this area
Business Placement
Demographics for 94606, CA
40,768
Population
17,457
Households
2.3
Avg Household Size
37
Median Age
40%
College-Educated
80%
High-School Grad
2.3 sq mi
ZIP Area
17,725
Density / Sq Mi
$70,769
Median Household Income
$47,558
Median Earnings
$1,775
Median Rent
$747,600
Median Home Value
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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 separate residential units with four total bedrooms and dedicated parking for income-oriented ownership.
Where is this duplex located?
The property is located at 1115 12th Avenue Oakland, CA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Two separate residential units totaling 1,956 sq ft; 2‑unit setup with four total bedrooms across both units; Includes 4 beds / 2 baths total (plus one extra 1 bed / 1 bath unit noted—legality not warranted)
