Vintage Fourplex with Recent
New
For Sale
$1,299,000
500 Fairbanks Ave, Oakland, CA 94610
Four residential units offer varied layouts, off-street parking, and recent exterior improvements in Oakland’s Grand Lake area.
Property Size3,112 SF
Lot Size0.16 Acres
Price / SF$417.42
Days on Market5
Property Features for 500 Fairbanks Ave
General Information
Standard status
Active
Size
3,112 SF
Lot size
0.16 Acres
Property subtype
Investment
Units
Unit Mix
2 x 2BR, 2 x 1BR
Multifamily Units
4
Building Details
Year Built
1924
Units
4
Listing Agency:
(510) 851-0282
Listed By:
David R. Valva
(510) 851-0282
Source:
Elliman
Added: Aug 8
Changed: Aug 11
Last Checked: Aug 12 at 6:25AM
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 David R. Valva
Investment Insights
Based on property information with market context.
This fourplex contains 3,112 square feet on a 7,100-square-foot lot, with two 2-bedroom units and two 1-bedroom units. The lower 1-bedroom residence includes a living room, dining room, and separate eating area. A new roof and fresh exterior paint provide recent capital improvements, while period moldings and other original architectural details remain in place. Off-street parking is also included.
The property is located at the Grand Lake and Piedmont border, near the retail, dining, and cafes of Grand Lake, Lakeshore, and Piedmont Avenue. Lake Merritt is nearby, and the surrounding area records a walk score of 88, a bike score of 57, and a transit score of 49. Built in 1924, the property combines a four-unit configuration with established vintage character and access to several Oakland commercial and recreational districts.
The property is located at the Grand Lake and Piedmont border, near the retail, dining, and cafes of Grand Lake, Lakeshore, and Piedmont Avenue. Lake Merritt is nearby, and the surrounding area records a walk score of 88, a bike score of 57, and a transit score of 49. Built in 1924, the property combines a four-unit configuration with established vintage character and access to several Oakland commercial and recreational districts.
Key Highlights
- Four‑unit property with two 2‑bedroom units and two 1‑bedroom units
- 3,112 square feet on a 7,100‑square‑foot lot
- New roof and fresh exterior paint
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
$71,320
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
5.49%
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%
$1,426,400
$1.4M
Cap Rate 7%
$1,018,857
$1.0M
Cap Rate 9%
$792,444
$792.4K
Market Conditions
NOI Build-Up for 3,112 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
$106.4K $34.20/SF
− Vacancy
−$4.5K −$1.46/SF
EGI
$101.9K $32.74/SF
− OpEx
−$30.6K −$9.82/SF
NOI
$71.3K $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%
$1,426,400
Cap Rate 7%
$1,018,857
Cap Rate 9%
$792,444
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$891.5K – $1.19M
NOI $71,320 @ 7.0% cap · market cap 5.49%
Second Best
Apartment 5plus
$938.7K
$821.4K – $1.10M
NOI $65,710 @ 7.0% cap · market cap 5.06%
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
Location Intelligence
Trade Area within ½ mile
2,071
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 residential units offer varied layouts, off-street parking, and recent exterior improvements in Oakland’s Grand Lake area.
Where is this quadplex located?
The property is located at 500 Fairbanks Ave Oakland, CA.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Four‑unit property with two 2‑bedroom units and two 1‑bedroom units; 3,112 square feet on a 7,100‑square‑foot lot; New roof and fresh exterior paint
