Oakland Multifamily Investment
For Sale
$1,599,000
1254 12th Street, Oakland, CA 94606
Well-maintained 6-unit building in Oakland's San Antonio District.
Property Size6,915 SF
Price / SF$231.24
Days on Market305
Property Features for 1254 12th Street
General Information
Standard status
Active
Size
6,915 SF
Property subtype
Commercial
Building Details
Year Built
1968
Listing Agency:
ABIO PROPERTIES
(888) 400-2246
Listed By:
RACHAEL SMITH
Source:
Corcoran
Added: Oct 11, 2025
Changed: Jul 6
Last Checked: Aug 10 at 3:17AM
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 ABIO PROPERTIES
Investment Insights
Based on property information with market context.
Located in Oakland’s San Antonio District, this well-maintained 6-unit building presents an investment opportunity. The property provides rental income, with one unit to be delivered vacant, suitable for owner-occupancy or immediate lease-up at market rent. A bonus studio space and a shared courtyard are included. The property has a new roof installed in 2018. Sewer lateral compliance is valid through 2033. Solar panels are installed on the roof, and the buyer will assume the existing solar agreement. The property is fully occupied with market-rate rents. The property size is 6,915 square feet. The property may qualify for Opportunity Zone benefits and Small Business loan financing.
Key Highlights
- Strong, consistent rental income from 6 units.
- Unit #6 to be delivered vacant, ideal for owner‑occupancy or immediate lease‑up.
- New roof (2018) and sewer lateral compliance valid through 2033.
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
$135,856
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
8.50%
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%
$2,717,120
$2.7M
Cap Rate 7%
$1,940,800
$1.9M
Cap Rate 9%
$1,509,511
$1.5M
Market Conditions
NOI Build-Up for 6,915 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
$261.4K $37.80/SF
− Vacancy
−$14.4K −$2.08/SF
EGI
$247.0K $35.72/SF
− OpEx
−$111.2K −$16.07/SF
NOI
$135.9K $19.65/SF
Area
ZIP 94606
Vacancy
5.50%
Lease Rate
$37.80 /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%
$2,717,120
Cap Rate 7%
$1,940,800
Cap Rate 9%
$1,509,511
Alternative Uses
Best Use
Apartment 5plus
$1.94M
$1.70M – $2.26M
NOI $135,856 @ 7.0% cap · market cap 8.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.15M
$2.76M – $3.68M
NOI $220,501 @ 7.0% cap · market cap 13.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,229
Businesses Nearby
Explore this area
Business Placement
Demographics for 94606, CA
40,768
Population
17,457
Households
2.3
Avg Household Size
37
Median Age
40%
College-Educated
80%
High-School Grad
2.3 sq mi
ZIP Area
17,725
Density / Sq Mi
$70,769
Median Household Income
$47,558
Median Earnings
$1,775
Median Rent
$747,600
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 building in Oakland's San Antonio District.
Where is this apartment building located?
The property is located at 1254 12th Street Oakland, CA.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Strong, consistent rental income from 6 units.; Unit #6 to be delivered vacant, ideal for owner‑occupancy or immediate lease‑up.; New roof (2018) and sewer lateral compliance valid through 2033.
