Multifamily Portfolio
For Sale
Contact for pricing
14 Whitmore Place, Oakland, CA 94611
A five-asset portfolio with 139 units, offered whole, by sub-portfolio, or asset by asset.
Property Size94,965 SF
Price / SF$309.06
Days on Market22
Property Features for 14 Whitmore Place
General Information
Standard status
Active
Size
94,965 SF
Property subtype
Multifamily
Additional Details
Cap Rate
5.9%
Multifamily Units
139
Listing Agency:
Colliers - San Francisco, California
(510) 986-6770
Listed By:
Matthew Flaherty · License #CA
Source:
Crexi
Added: Jul 17
Changed: Jul 22
Last Checked: Aug 6 at 12:45PM
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 Colliers - San Francisco, California
Investment Insights
Based on property information with market context.
The Oakland & El Sobrante Multifamily Portfolio features 139 units across five apartment assets, offered for sale as a whole, in sub-portfolios, or asset by asset for the first time in over 20 years of family ownership. The offering’s in-place rents across the portfolio are described as 9.23% below market. Under the stated day-one assumptions, the income pricing reflects a 5.90% cap rate on a basis of $211,151 per unit, with recapturing market rents projected to lift NOI by 20.5% to a 7.11% cap rate.
The recapturing path is described as differing by jurisdiction: the four Oakland assets recover loss-to-lease through unit turnover, while 4230 San Pablo Dam Rd, located in unincorporated Contra Costa County with no local rent ordinance, is described as able to capture a statutory 8.8% increase beginning August 1, 2026. Three assets—14 Whitmore Pl, 5527 & 5601 Shattuck Ave, and 484 37th St—are identified as anchoring the offering in North Oakland, with proximity described as minutes from the Piedmont Avenue corridor, Temescal, and MacArthur BART.
1932 6th Ave is listed as an East Lake Oakland asset, and 4230 San Pablo Dam Rd is identified as the portfolio’s largest asset, providing scale in El Sobrante.
The recapturing path is described as differing by jurisdiction: the four Oakland assets recover loss-to-lease through unit turnover, while 4230 San Pablo Dam Rd, located in unincorporated Contra Costa County with no local rent ordinance, is described as able to capture a statutory 8.8% increase beginning August 1, 2026. Three assets—14 Whitmore Pl, 5527 & 5601 Shattuck Ave, and 484 37th St—are identified as anchoring the offering in North Oakland, with proximity described as minutes from the Piedmont Avenue corridor, Temescal, and MacArthur BART.
1932 6th Ave is listed as an East Lake Oakland asset, and 4230 San Pablo Dam Rd is identified as the portfolio’s largest asset, providing scale in El Sobrante.
Key Highlights
- Five‑asset East Bay multifamily portfolio totaling 139 units, offered whole, by sub‑portfolio, or asset‑by‑asset
- In‑place rents are 9.23% below market across the portfolio
- Day‑one income pricing shown at a 5.90% cap rate on a basis of $211,151 per unit
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
$1,621,201
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
5.52%
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%
$32,424,020
$32.4M
Cap Rate 7%
$23,160,014
$23.2M
Cap Rate 9%
$18,013,344
$18.0M
Market Conditions
NOI Build-Up for 94,965 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
$3.08M $32.40/SF
− Vacancy
−$129.2K −$1.36/SF
EGI
$2.95M $31.04/SF
− OpEx
−$1.33M −$13.97/SF
NOI
$1.62M $17.07/SF
Area
ZIP 94611
Vacancy
4.20%
Lease Rate
$32.40 /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%
$32,424,020
Cap Rate 7%
$23,160,014
Cap Rate 9%
$18,013,344
Alternative Uses
Best Use
Apartment 5plus
$23.16M
$20.27M – $27.02M
NOI $1,621,201 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$40.00M
$35.00M – $46.67M
NOI $2,800,322 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
139
Residential units
Location Intelligence
Trade Area within ½ mile
4,251
Businesses Nearby
Explore this area
Business Placement
Demographics for 94611, CA
40,262
Population
19,014
Households
2.1
Avg Household Size
44
Median Age
78%
College-Educated
97%
High-School Grad
7.3 sq mi
ZIP Area
5,515
Density / Sq Mi
$176,517
Median Household Income
$105,393
Median Earnings
$2,274
Median Rent
$1,485,000
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?
Apartment building - A five-asset portfolio with 139 units, offered whole, by sub-portfolio, or asset by asset.
Where is this apartment building located?
The property is located at 14 Whitmore Place Oakland, CA.
What is the asking price?
The asking price for this property is $29,350,000.
What are key features of this property?
This property features: Five‑asset East Bay multifamily portfolio totaling 139 units, offered whole, by sub‑portfolio, or asset‑by‑asset; In‑place rents are 9.23% below market across the portfolio; Day‑one income pricing shown at a 5.90% cap rate on a basis of $211,151 per unit
