Triplex with Remodeled Lower
New
For Sale
$1,499,999
1160 Powell Street, Oakland, CA 94608
Residential Income, Oakland, CA
Property Size2,184 SF
Lot Size0.07 Acres
Price / SF$686.81
Days on Market6
Property Features for 1160 Powell Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
4
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 1
Elementary school district
Alameda
Middle school district
Alameda
High school district
Alameda
Directions
Gps
Subdivision
Oakland Zip Code 94608
Standard status
Active
APN
0151333016
Size
2,184 SF
Lot size
0.07 Acres
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Water source
Public
Amenities
high ceilings
crown moldings
skylights
French doors
built-ins
new hardwood flooring
new windows
gas fireplace
expanded eat-in kitchen
private backyard
mature fruit trees
rose bushes
drip irrigation
new shed
concrete sitting area
gated entrances
Building Details
Year built
1924
Floors in Building
2
Number of units
3
Listing Agency:
Coldwell Banker Kappel Gateway Realty · Coldwell Banker Real Estate
(707) 446-9800
Listed By:
Monique Kenner
(925) 305-5767
Added: Sep 17
Changed: Sep 21
Last Checked: Sep 22 at 1:06PM
MLS# 326079724
Copyright © 2026 Bay Area Real Estate Information Services, Inc. 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 1924, this 2,184-square-foot triplex combines a character-rich main residence with two lower-level units. The primary home provides 3 bedrooms and 1 bathroom, with high ceilings, crown molding, skylights, French doors, built-ins, hardwood flooring, updated windows, a gas fireplace, and an expanded eat-in kitchen. The lower level includes a remodeled studio and a remodeled 1-bedroom apartment, both scheduled for delivery vacant. Records identify the property as a triplex with 5 bedrooms and 3 bathrooms overall.
Outdoor features include a private backyard with mature fruit trees, rose bushes, drip irrigation, a new shed, concrete sitting area, and gated access to the lower units. Public water and public sewer serve the property, which uses wall-furnace heating. The home is located near the Oakland–Emeryville border, close to Emeryville and Pixar Animation Studios, with a Walk Score of 95.
Outdoor features include a private backyard with mature fruit trees, rose bushes, drip irrigation, a new shed, concrete sitting area, and gated access to the lower units. Public water and public sewer serve the property, which uses wall-furnace heating. The home is located near the Oakland–Emeryville border, close to Emeryville and Pixar Animation Studios, with a Walk Score of 95.
Key Highlights
- Triplex with 2,184 square feet of building area
- 1924 construction with 5 bedrooms and 3 bathrooms per records
- 3‑bedroom, 1‑bath main residence with expanded eat‑in kitchen
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
$50,052
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
3.34%
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%
$1,001,040
$1.0M
Cap Rate 7%
$715,029
$715.0K
Cap Rate 9%
$556,133
$556.1K
Market Conditions
NOI Build-Up for 2,184 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
$74.7K $34.20/SF
− Vacancy
−$3.2K −$1.46/SF
EGI
$71.5K $32.74/SF
− OpEx
−$21.5K −$9.82/SF
NOI
$50.1K $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%
$1,001,040
Cap Rate 7%
$715,029
Cap Rate 9%
$556,133
Alternative Uses
Best Use
Multifamily LT 5
$715.0K
$625.7K – $834.2K
NOI $50,052 @ 7.0% cap · market cap 3.34%
Second Best
Apartment 5plus
$658.8K
$576.4K – $768.6K
NOI $46,115 @ 7.0% cap · market cap 3.07%
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
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,926
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
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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?
Triplex - Three-unit property offering flexible layouts, vintage character, and a private backyard with mature fruit trees.
Where is this triplex located?
The property is located at 1160 Powell Street Oakland, CA.
What is the asking price?
The asking price for this property is $1,499,999.
What are key features of this property?
This property features: Triplex with 2,184 square feet of building area; 1924 construction with 5 bedrooms and 3 bathrooms per records; 3‑bedroom, 1‑bath main residence with expanded eat‑in kitchen
