Two-Home Duplex
New
For Sale
$895,000
1123 65Th St, Oakland, CA 94608
Residential Income, Oakland, CA
Property Size1,538 SF
Lot Size0.08 Acres
Price / SF$581.92
Days on Market4
Property Features for 1123 65Th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Rooms
Bedroom 1, Bedroom 2, Basement, Bedroom 3
Parking features
Off Street, On Street
Security features
Security
Window features
Window Coverings
Exterior features
Back Yard, Entry Gate, Storage Area
Fencing
Gate, Fenced
Appliances
Gas Water Heater
Subdivision
GOLDEN GATE
Lot features
2 Houses / 1 Lot
Standard status
Active
APN
1615054
Size
1,538 SF
Lot size
0.08 Acres
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Water source
Public
Building Details
Year built
1925
Flooring type
Hardwood, Laminate, Carpet - Partial
Building materials
Wood Siding
Additional Structures
Storage
Listing Agency:
KW Advisors East Bay · Keller Williams Realty
(510) 775-1079
Listed By:
Liz Rush · License #01445284
(510) 689-6921
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 24 at 6:06AM
MLS# 41145617
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 property comprises two separate homes on a 0.084-acre parcel, with 1,538 square feet of total property size. Each residence has its own entrance and separate utilities, while both interiors have been updated. The front home includes off-street parking and a high-ceilinged basement; the rear home offers a full basement and frontage on Peabody Lane. Exterior features include a fenced back yard, entry gate, and storage area.
The property is tenant-occupied at market rents and carries RM-3 zoning. Public water and sewer serve the site. Located in Oakland’s NOBE area, the property is one block from Emeryville and two blocks from Berkeley, with access to I-80 and I-580, Berkeley Bowl West, Bay Street, and Emeryville Public Market.
The property is tenant-occupied at market rents and carries RM-3 zoning. Public water and sewer serve the site. Located in Oakland’s NOBE area, the property is one block from Emeryville and two blocks from Berkeley, with access to I-80 and I-580, Berkeley Bowl West, Bay Street, and Emeryville Public Market.
Key Highlights
- Two separate homes on a 0.084‑acre parcel
- 1,538 square feet of total property size
- RM‑3 zoning with both residences tenant‑occupied at market rents
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
$35,248
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
3.94%
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%
$704,960
$705.0K
Cap Rate 7%
$503,543
$503.5K
Cap Rate 9%
$391,644
$391.6K
Market Conditions
NOI Build-Up for 1,538 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
$52.6K $34.20/SF
− Vacancy
−$2.2K −$1.46/SF
EGI
$50.4K $32.74/SF
− OpEx
−$15.1K −$9.82/SF
NOI
$35.2K $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%
$704,960
Cap Rate 7%
$503,543
Cap Rate 9%
$391,644
Alternative Uses
Best Use
Multifamily LT 5
$503.5K
$440.6K – $587.5K
NOI $35,248 @ 7.0% cap · market cap 3.94%
Second Best
Apartment 5plus
$463.9K
$405.9K – $541.3K
NOI $32,475 @ 7.0% cap · market cap 3.63%
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
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,801
Businesses Nearby
Explore this area
Business Placement
Demographics for 94608, CA
33,073
Population
17,956
Households
1.8
Avg Household Size
36
Median Age
64%
College-Educated
94%
High-School Grad
2.8 sq mi
ZIP Area
11,812
Density / Sq Mi
$116,306
Median Household Income
$73,845
Median Earnings
$2,561
Median Rent
$826,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer private entrances, individual utilities, updated interiors, and off-street parking.
Where is this duplex located?
The property is located at 1123 65Th St Oakland, CA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Two separate homes on a 0.084‑acre parcel; 1,538 square feet of total property size; RM‑3 zoning with both residences tenant‑occupied at market rents
