Oakland Multifamily Investment
For Sale
$1,985,000
1000 33rd St, Oakland, CA 94610
Well-maintained 6-unit apartment complex in Oakland's Ivy Hill neighborhood.
Property Size5,813 SF
Price / SF$341.48
Days on Market479
Property Features for 1000 33rd St
General Information
Standard status
Active
Size
5,813 SF
Property subtype
Commercial
Amenities
Corner
Regular
Building Details
Year Built
1927
Listing Agency:
BCRE
(510) 222-0900
Listed By:
BRIAN BANIQUED · License #01104388
Source:
Corcoran
Added: Apr 22, 2025
Changed: Aug 8
Last Checked: Apr 5 at 8:28PM
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 BCRE
Investment Insights
Based on property information with market context.
This well-maintained 6-unit apartment complex is located in Oakland’s Ivy Hill neighborhood. The property features spacious 2-bedroom, 1-bathroom units. Most of the units have been recently updated. The property offers four private garages and a secured gated entry. It is conveniently located near AC Transit and major freeways I-580 and I-880, providing easy access to Downtown Oakland and beyond. The property size is 5,813 square feet. This presents an investment opportunity for those seeking a rental market in a thriving community.
Key Highlights
- Six‑unit apartment complex in Oakland's Ivy Hill neighborhood
- Four private garages included
- Secured gated entry
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
$122,742
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
6.18%
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%
$2,454,840
$2.5M
Cap Rate 7%
$1,753,457
$1.8M
Cap Rate 9%
$1,363,800
$1.4M
Market Conditions
NOI Build-Up for 5,813 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
$233.7K $40.20/SF
− Vacancy
−$10.5K −$1.81/SF
EGI
$223.2K $38.39/SF
− OpEx
−$100.4K −$17.28/SF
NOI
$122.7K $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%
$2,454,840
Cap Rate 7%
$1,753,457
Cap Rate 9%
$1,363,800
Alternative Uses
Best Use
Apartment 5plus
$1.75M
$1.53M – $2.05M
NOI $122,742 @ 7.0% cap · market cap 6.18%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.90M
$1.67M – $2.22M
NOI $133,221 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,499
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 6-unit apartment complex in Oakland's Ivy Hill neighborhood.
Where is this apartment building located?
The property is located at 1000 33rd St Oakland, CA.
What is the asking price?
The asking price for this property is $1,985,000.
What are key features of this property?
This property features: Six‑unit apartment complex in Oakland's Ivy Hill neighborhood; Four private garages included; Secured gated entry
