Victorian Duplex with Upper
For Sale
$499,000
1433 15th Avenue, Oakland, CA 94606
MULTI_FAMILY - Oakland, CA
Property Size2,038 SF
Lot Size0.07 Acres
Price / SF$244.85
Days on Market123
Property Features for 1433 15th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 2, Bedroom 4, Bathroom 3, Bathroom 2, Bedroom 3, Bedroom 1, Bathroom 4
Interior features
Shower Stall(s)
Exterior features
Back Yard, Front Yard
Fencing
Fenced
Fireplace
1
Subdivision
San Antonio
Elementary school district
Oakland (510) 879-8111
Directions
International to 15th.
Standard status
Active
APN
201436
Size
2,038 SF
Lot size
0.07 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Water source
Public
Building Details
Year built
1904
Number of units
2
Flooring type
Carpet
Building materials
Frame
Roof type
Composition
Listing Agency:
Keller Williams Tri-Valley · Keller Williams Realty
(925) 397-4200
Listed By:
Heather Adams
(209) 923-3649
Added: Apr 10
Changed: Aug 2
Last Checked: Aug 10 at 3:06PM
MLS# 41130459
Copyright © 2026 Bay East. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located in Oakland’s San Antonio neighborhood, this 1904 Victorian-style duplex offers a two-unit setup with indoor updates and exterior outdoor space. The home features frame construction and central heating, plus a fireplace. Both units include updated flooring, and some updated electrical, supporting comfortable day-to-day living. Interior details include shower stall(s), with rooms laid out across multiple bedrooms and bathrooms.
Outside, the property includes front and back yards that are fenced. The upper unit has a newer deck, and the roof was installed in 2025.
Additional utilities and services include public water and public sewer. The property totals 2,038 square feet on a 0.0689-acre lot, and it offers a shower stall(s) feature and composition roof. With proximity to shopping, dining, freeway access, and Oakland International Airport, the duplex can suit owner-occupants looking to offset expenses while keeping a second unit as rental income.
Outside, the property includes front and back yards that are fenced. The upper unit has a newer deck, and the roof was installed in 2025.
Additional utilities and services include public water and public sewer. The property totals 2,038 square feet on a 0.0689-acre lot, and it offers a shower stall(s) feature and composition roof. With proximity to shopping, dining, freeway access, and Oakland International Airport, the duplex can suit owner-occupants looking to offset expenses while keeping a second unit as rental income.
Key Highlights
- 1904 Victorian‑style duplex with frame construction
- Roof installed in 2025
- Upper unit includes a newer deck
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
$43,809
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
8.78%
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%
$876,180
$876.2K
Cap Rate 7%
$625,843
$625.8K
Cap Rate 9%
$486,767
$486.8K
Market Conditions
NOI Build-Up for 2,038 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
$66.0K $32.40/SF
− Vacancy
−$3.4K −$1.69/SF
EGI
$62.6K $30.71/SF
− OpEx
−$18.8K −$9.21/SF
NOI
$43.8K $21.50/SF
Area
ZIP 94606
Vacancy
5.22%
Lease Rate
$32.40 /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%
$876,180
Cap Rate 7%
$625,843
Cap Rate 9%
$486,767
Alternative Uses
Best Use
Multifamily LT 5
$625.8K
$547.6K – $730.2K
NOI $43,809 @ 7.0% cap · market cap 8.78%
Second Best
Apartment 5plus
$572.0K
$500.5K – $667.3K
NOI $40,040 @ 7.0% cap · market cap 8.02%
Theoretical Best
Office A
$928.4K
$812.3K – $1.08M
NOI $64,986 @ 7.0% cap · market cap 13.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,617
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex in the San Antonio neighborhood with a fenced yard, central heating, and updated flooring in both units.
Where is this duplex located?
The property is located at 1433 15th Avenue Oakland, CA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 1904 Victorian‑style duplex with frame construction; Roof installed in 2025; Upper unit includes a newer deck
