Spanish-Style
New
For Sale
$1,710,000
31 Excelsior Ct, Oakland, CA 94610
Four two-story rental units offer owner-occupancy flexibility, private laundry, garage parking, and access to Lake Merritt and downtown Oakland.
Property Size4,186 SF
Days on Market5
Property Features for 31 Excelsior Ct
General Information
Standard status
Active
Size
4,186 SF
Class
B
Property subtype
Multi-Family
Building Details
Building Size
4,186 SF
Year Built
1938
Units
4
Listing Agency:
Kite Hill Real Estate
Listed By:
Jatin Mehta · License #02045713
(415) 795-2797
Source:
Commercialcafe
Added: Sep 1
Last Checked: Sep 5 at 4:51AM
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 Kite Hill Real Estate
Investment Insights
Based on property information with market context.
Built in 1938, this Spanish-style quadplex contains four 2-bedroom, 1.5-bath residences totaling 4,186 square feet. Each apartment spans two stories and provides more than 1,000 square feet of living area. One unit is vacant, creating an owner-occupancy option while the remaining three residences are available for rental use.
The property sits on a quiet cul-de-sac in Oakland’s Cleveland Heights area, with access to Lake Merritt, downtown Oakland, Lakeshore, Grand Lake shops and restaurants, and nearby public transportation. Four garages, additional off-street parking, and in-unit laundry add practical value for residents. Walk Score is 97, Transit Score is 55, and Bike Score is 71.
The property sits on a quiet cul-de-sac in Oakland’s Cleveland Heights area, with access to Lake Merritt, downtown Oakland, Lakeshore, Grand Lake shops and restaurants, and nearby public transportation. Four garages, additional off-street parking, and in-unit laundry add practical value for residents. Walk Score is 97, Transit Score is 55, and Bike Score is 71.
Key Highlights
- Four 2‑bedroom, 1.5‑bath units with 4,186 square feet total
- Each residence spans two stories and offers over 1,000 square feet
- One vacant unit supports an owner‑occupancy strategy
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
$95,934
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
5.61%
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%
$1,918,680
$1.9M
Cap Rate 7%
$1,370,486
$1.4M
Cap Rate 9%
$1,065,933
$1.1M
Market Conditions
NOI Build-Up for 4,186 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
$143.2K $34.20/SF
− Vacancy
−$6.1K −$1.46/SF
EGI
$137.0K $32.74/SF
− OpEx
−$41.1K −$9.82/SF
NOI
$95.9K $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%
$1,918,680
Cap Rate 7%
$1,370,486
Cap Rate 9%
$1,065,933
Alternative Uses
Best Use
Multifamily LT 5
$1.37M
$1.20M – $1.60M
NOI $95,934 @ 7.0% cap · market cap 5.61%
Second Best
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $88,388 @ 7.0% cap · market cap 5.17%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,185
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 two-story rental units offer owner-occupancy flexibility, private laundry, garage parking, and access to Lake Merritt and downtown Oakland.
Where is this quadplex located?
The property is located at 31 Excelsior Ct Oakland, CA.
What is the asking price?
The asking price for this property is $1,710,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1.5‑bath units with 4,186 square feet total; Each residence spans two stories and offers over 1,000 square feet; One vacant unit supports an owner‑occupancy strategy
