Rented
For Sale
$589,000
1350 96th AVE, Oakland, CA 94603
Four-unit residential property with a two-bedroom configuration, studio units, and established occupancy.
Property Size1,873 SF
Days on Market20
Property Features for 1350 96th AVE
General Information
Standard status
Active
Size
1,873 SF
Property subtype
Triplex
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA, 2 x studio
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,562
Building Details
Building Size
1,873 SF
Year Built
1942
Listing Agency:
HomeSmart PV & Associates
(408) 750-6510
Listed By:
J Alex Hernandez · License #01476825
(408) 750-6510
Source:
Johnpaye
Added: Aug 12
Changed: Aug 24
Last Checked: Aug 31 at 12:46AM
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 HomeSmart PV & Associates
Investment Insights
Based on property information with market context.
This Oakland quadplex was built in 1942 and is fully occupied. The property includes 2 units with 2 beds and 1 bath each, along with 2 studio units, creating a varied unit mix within the building.
Located at 1350 96th Ave, the property records a Walk Score of 77, a BikeScore of 70, and a TransitScore of 71. These scores indicate walkable conditions, strong bicycle access, and available transit service.
Located at 1350 96th Ave, the property records a Walk Score of 77, a BikeScore of 70, and a TransitScore of 71. These scores indicate walkable conditions, strong bicycle access, and available transit service.
Key Highlights
- Fully rented fourplex in Oakland
- Unit mix includes 2 units of 2 bed 1 bath and 2 studios
- Built in 1942
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
$38,247
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
6.49%
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%
$764,940
$764.9K
Cap Rate 7%
$546,386
$546.4K
Cap Rate 9%
$424,967
$425.0K
Market Conditions
NOI Build-Up for 1,873 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
$58.4K $31.20/SF
− Vacancy
−$3.8K −$2.03/SF
EGI
$54.6K $29.17/SF
− OpEx
−$16.4K −$8.75/SF
NOI
$38.2K $20.42/SF
Area
ZIP 94603
Vacancy
6.50%
Lease Rate
$31.20 /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%
$764,940
Cap Rate 7%
$546,386
Cap Rate 9%
$424,967
Alternative Uses
Best Use
Multifamily LT 5
$546.4K
$478.1K – $637.5K
NOI $38,247 @ 7.0% cap · market cap 6.49%
Second Best
Apartment 5plus
$506.9K
$443.5K – $591.4K
NOI $35,482 @ 7.0% cap · market cap 6.02%
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
Location Intelligence
Trade Area within ½ mile
876
Businesses Nearby
Explore this area
Business Placement
Demographics for 94603, CA
36,681
Population
11,199
Households
3.3
Avg Household Size
32
Median Age
15%
College-Educated
69%
High-School Grad
2.7 sq mi
ZIP Area
13,586
Density / Sq Mi
$71,086
Median Household Income
$37,025
Median Earnings
$1,838
Median Rent
$596,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential property with a two-bedroom configuration, studio units, and established occupancy.
Where is this quadplex located?
The property is located at 1350 96th AVE Oakland, CA.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Fully rented fourplex in Oakland; Unit mix includes 2 units of 2 bed 1 bath and 2 studios; Built in 1942
