HAP-Contract Fourplex With Private
978 75Th Ave Oakland, CA 94621
978 75Th Ave, Oakland, CA, 94621
$895,000
Pending
For Sale
$895,000
Pending
Fully occupied East Oakland fourplex with private entries, assigned parking, and updated kitchens supporting HACA HAP income.
Property Size2,916 SF
Days on Market42
Property Features for 978 75Th Ave
General Information
- Standard status
- Pending
- Size
- 2,916 SF
- Property subtype
- Investment
Building Details
- Year Built
- 1943
Listing agency
Keller Williams Realty Walnut Creek
(510) 592-5554
Listed by
Joey Wang · License #01890931
(510) 592-5554
Source
Elliman
Added: Jun 10 Updated: Jul 10 at 1:54PM Checked: Jul 21 at 8:11AM
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 Keller Williams Realty Walnut Creek
Investment Insights
Based on property information with market context.
978 75th Avenue is a two-story fourplex designed for four separate households, with two 3BD/1BA units and two 2BD/1BA units. Each unit has a private entry and assigned parking. Interiors include an updated kitchen package with quartz countertops and shaker cabinetry. The building is supported by separate utility meters for all four units, with tenants responsible for their own gas and electric.
The property is located along the 75th Avenue corridor in East Oakland, less than one mile from Coliseum BART. The asset is positioned within an established rental neighborhood and is fully occupied, with three of the four units operating under active HACA HAP contracts.
From an owner-operator perspective, the combination of private entries, assigned parking, and separate utilities simplifies day-to-day tenancy management while maintaining consistent rent support through the HACA HAP agreements. Annualized gross income is $117,660 with a proforma NOI of $76,073. Financial figures provided include a lean expense ratio of 30.5% based on tenant-paid gas and electric. The asking price is $895,000, reflecting $223,750 per unit and approximately $307 per square foot, as stated in the offering remarks.
The property is located along the 75th Avenue corridor in East Oakland, less than one mile from Coliseum BART. The asset is positioned within an established rental neighborhood and is fully occupied, with three of the four units operating under active HACA HAP contracts.
From an owner-operator perspective, the combination of private entries, assigned parking, and separate utilities simplifies day-to-day tenancy management while maintaining consistent rent support through the HACA HAP agreements. Annualized gross income is $117,660 with a proforma NOI of $76,073. Financial figures provided include a lean expense ratio of 30.5% based on tenant-paid gas and electric. The asking price is $895,000, reflecting $223,750 per unit and approximately $307 per square foot, as stated in the offering remarks.
Key Highlights
- Fully occupied East Oakland fourplex, built in 1943, with 4 units and separate private entries.
- Unit mix: two 3BD/1BA and two 2BD/1BA units in a two‑story building totaling approx. 2,916 SF.
- Three units are under active HACA HAP contracts.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $99.7k | $34.20 |
| − Vacancy | −$4.3k | −$1.46 |
| EGI | $95.5k | $32.74 |
| − OpEx | −$28.6k | −$9.82 |
| NOI | $66.8k | $22.92 |
2,916 SF · lease $34.20/SF/yr · vacancy 4.27% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$954.7K
$835.4K – $1.11M
NOI $66,828 @ 7.0% cap · market cap 7.47%
Second Best
Apartment 5plus
$879.6K
$769.6K – $1.03M
NOI $61,571 @ 7.0% cap · market cap 6.88%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Quadplex - Fully occupied East Oakland fourplex with private entries, assigned parking, and updated kitchens supporting HACA HAP income.
Where is this quadplex located?
The property is located at 978 75Th Ave Oakland, CA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Fully occupied East Oakland fourplex, built in 1943, with 4 units and separate private entries.; Unit mix: two 3BD/1BA and two 2BD/1BA units in a two‑story building totaling approx. 2,916 SF.; Three units are under active HACA HAP contracts.
