Four-Unit Residential Income
For Sale
$1,195,000
Pending
1251 Macarthur Blvd, Oakland, CA 94610
Four-unit apartment complex with fully remodeled interiors, stainless appliances, and two separately metered buildings.
Property Size4,236 SF
Lot Size0.12 Acres
Days on Market88
Property Features for 1251 Macarthur Blvd
General Information
Standard status
Pending
Size
4,236 SF
Lot size
0.12 Acres
Property subtype
Quadruplex
Occupancy
100%
Additional Details
Cap Rate
6.91%
Highway Access
Yes
Multifamily Units
4
Building Details
Building Size
4,236 SF
Year Built
1915
Tenancy
Multi
Listing Agency:
The Pinza Group, Inc
Listed By:
David Howarth, · License #01360348
(510) 822-1331
Source:
Coastandcore
Added: Jun 12
Changed: Sep 5
Last Checked: Sep 7 at 8:42AM
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 The Pinza Group, Inc
Investment Insights
Based on property information with market context.
Four-unit apartment complex with a unique layout across two separate buildings, designed to give each unit a distinct, home-like feel. The property offers one 3-bedroom, 2-bath unit and three 2-bedroom, 1-bath units. Built in 1915, the units have been fully remodeled with new kitchens and bathrooms, new cabinets, stainless steel appliances, custom tile, wood floors, double pane windows, new paint, and updated lighting.
The property sits on a 5,200 square foot lot with ample room for parking and is described as 100% occupied. It is separately metered for PG&E, supporting efficient utility management.
Located near Lake Merritt with easy access to Highway 580, the property is also close to Grand Lake, Lower Dimond, and Laurel shopping districts, with nearby restaurants and coffee shops and access to public transportation including BART and other transit options.
The property sits on a 5,200 square foot lot with ample room for parking and is described as 100% occupied. It is separately metered for PG&E, supporting efficient utility management.
Located near Lake Merritt with easy access to Highway 580, the property is also close to Grand Lake, Lower Dimond, and Laurel shopping districts, with nearby restaurants and coffee shops and access to public transportation including BART and other transit options.
Key Highlights
- 1915‑built 4‑unit apartment complex with approx. 4,236 SF of rental space
- 100% occupied with unit mix of one 3BD/2BA and three 2BD/1BA units
- Fully remodeled units with new kitchens and bathrooms, stainless steel appliances, double pane windows, new paint, and updated lighting
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
$97,080
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
8.12%
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%
$1,941,600
$1.9M
Cap Rate 7%
$1,386,857
$1.4M
Cap Rate 9%
$1,078,667
$1.1M
Market Conditions
NOI Build-Up for 4,236 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
$144.9K $34.20/SF
− Vacancy
−$6.2K −$1.46/SF
EGI
$138.7K $32.74/SF
− OpEx
−$41.6K −$9.82/SF
NOI
$97.1K $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%
$1,941,600
Cap Rate 7%
$1,386,857
Cap Rate 9%
$1,078,667
Alternative Uses
Best Use
Multifamily LT 5
$1.39M
$1.21M – $1.62M
NOI $97,080 @ 7.0% cap · market cap 8.12%
Second Best
Apartment 5plus
$1.28M
$1.12M – $1.49M
NOI $89,443 @ 7.0% cap · market cap 7.48%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,327
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?
Quadplex - Four-unit apartment complex with fully remodeled interiors, stainless appliances, and two separately metered buildings.
Where is this quadplex located?
The property is located at 1251 Macarthur Blvd Oakland, CA.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: 1915‑built 4‑unit apartment complex with approx. 4,236 SF of rental space; 100% occupied with unit mix of one 3BD/2BA and three 2BD/1BA units; Fully remodeled units with new kitchens and bathrooms, stainless steel appliances, double pane windows, new paint, and updated lighting
