Victorian Three-Unit
For Sale
$850,000
2244 E 20Th St, Oakland, CA 94606
Private entrances support flexible occupancy across distinct living areas.
Property Size3,938 SF
Price / SF$215.85
Days on Market8
Property Features for 2244 E 20Th St
General Information
Standard status
Active
Size
3,938 SF
Property subtype
Multi-Family
Amenities
shared laundry area
Building Details
Year Built
1898
Construction
Queen Anne
Listing Agency:
EXP Realty of California, Inc
Listed By:
Michael Garcia · License #01778005
(510) 399-2566
Source:
Bayarearealestatesearch
Added: Sep 15
Last Checked: Sep 21 at 4:33AM
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 EXP Realty of California, Inc
Investment Insights
Based on property information with market context.
This 1898 Queen Anne Victorian property is arranged as three distinct living areas with private entrances, eight bedrooms, six bathrooms, and three full kitchens. The principal residence includes four bedrooms, three bathrooms, high ceilings, an open floor plan, formal dining room, and an updated kitchen. An attic bedroom suite adds a private bathroom, mini-split AC, and substantial storage.
The lower level is configured for two self-contained units or one larger residence. One includes one bedroom, one bathroom, a kitchen, and a separate entrance; the other offers three bedrooms, a hall bathroom, an ensuite bathroom, a kitchen, and its own entrance. A shared laundry area serves the lower-level spaces. Located at 2244 E 20th St in Oakland, the property supports multi-generational occupancy or a combination of owner use and rental living.
The lower level is configured for two self-contained units or one larger residence. One includes one bedroom, one bathroom, a kitchen, and a separate entrance; the other offers three bedrooms, a hall bathroom, an ensuite bathroom, a kitchen, and its own entrance. A shared laundry area serves the lower-level spaces. Located at 2244 E 20th St in Oakland, the property supports multi-generational occupancy or a combination of owner use and rental living.
Key Highlights
- 8 bedrooms and 6 bathrooms across three distinct living areas
- 3 full kitchens, each supporting separate living arrangements
- Private entrances for all three living areas
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
$77,368
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
9.10%
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%
$1,547,360
$1.5M
Cap Rate 7%
$1,105,257
$1.1M
Cap Rate 9%
$859,644
$859.6K
Market Conditions
NOI Build-Up for 3,938 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
$148.9K $37.80/SF
− Vacancy
−$8.2K −$2.08/SF
EGI
$140.7K $35.72/SF
− OpEx
−$63.3K −$16.07/SF
NOI
$77.4K $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%
$1,547,360
Cap Rate 7%
$1,105,257
Cap Rate 9%
$859,644
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,652 @ 7.0% cap · market cap 9.96%
Second Best
Apartment 5plus
$1.11M
$967.1K – $1.29M
NOI $77,368 @ 7.0% cap · market cap 9.10%
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,572 @ 7.0% cap · market cap 14.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,378
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Private entrances support flexible occupancy across distinct living areas.
Where is this triplex located?
The property is located at 2244 E 20Th St Oakland, CA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 8 bedrooms and 6 bathrooms across three distinct living areas; 3 full kitchens, each supporting separate living arrangements; Private entrances for all three living areas
