Oakland Multifamily Property for
For Sale
Contact for pricing
Pending
1220 62nd St, Oakland, CA 94608
Multifamily property in Oakland, CA, with 2,100 square feet.
Property Size2,100 SF
Days on Market187
Property Features for 1220 62nd St
General Information
Standard status
Pending
Size
2,100 SF
Total Parking Spaces
6
Property subtype
Multifamily
Occupancy
83%
Investment Type
Sale/Leaseback
Net Operating Income
$121,833
Building Details
Year Built
1963
Buildings
1
Stories
2
Units
6
Listing Agency:
Red Oak Realty
Listed By:
Eli Fletcher · License #1724665
Source:
Crexi
Added: Feb 28
Changed: Aug 21
Last Checked: Sep 2 at 1:26AM
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 Red Oak Realty
Investment Insights
Based on property information with market context.
This multifamily property is located in Oakland, CA. The property offers 2,100 square feet of space. It is classified as a residential income property and is currently for sale.
Key Highlights
- Multifamily property: Ideal for investors or owner‑occupants seeking rental income.
- Located in Oakland, CA: Benefit from a vibrant city with strong rental demand.
- 2,100 square feet: Offers ample living space for multiple units.
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
$44,342
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
3.06%
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%
$886,840
$886.8K
Cap Rate 7%
$633,457
$633.5K
Cap Rate 9%
$492,689
$492.7K
Market Conditions
NOI Build-Up for 2,100 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
$84.4K $40.20/SF
− Vacancy
−$3.8K −$1.81/SF
EGI
$80.6K $38.39/SF
− OpEx
−$36.3K −$17.28/SF
NOI
$44.3K $21.12/SF
Area
Oakland, CA
Vacancy
4.50%
Lease Rate
$40.20 /SF/Yr
Expense Ratio
45.00%
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%
$886,840
Cap Rate 7%
$633,457
Cap Rate 9%
$492,689
Alternative Uses
Best Use
Apartment 5plus
$633.5K
$554.3K – $739.0K
NOI $44,342 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$687.5K
$601.6K – $802.1K
NOI $48,127 @ 7.0% cap · market cap 3.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,843
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
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property in Oakland, CA, with 2,100 square feet.
Where is this multifamily property located?
The property is located at 1220 62nd St Oakland, CA.
What is the asking price?
The asking price for this property is $1,449,000.
What are key features of this property?
This property features: Multifamily property: Ideal for investors or owner‑occupants seeking rental income.; Located in Oakland, CA: Benefit from a vibrant city with strong rental demand.; 2,100 square feet: Offers ample living space for multiple units.
