Oakland Multifamily Investment
For Sale
$599,000
Pending
1519 48th Avenue, Oakland, CA 94601
Three detached units with income and upside potential in Oakland.
Property Size1,304 SF
Days on Market207
Property Features for 1519 48th Avenue
General Information
Standard status
Pending
Size
1,304 SF
Property subtype
Residential Income / Triplex
Amenities
11
3
Feet
No
Parking
Building Details
Year Built
1915
Listing Agency:
Compass
(415) 272-0059
Listed By:
Marco Barretto · License #02078316
(415) 272-0059
Source:
Compass
Added: Feb 3
Changed: Aug 23
Last Checked: Aug 29 at 3:07PM
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 Compass
Investment Insights
Based on property information with market context.
Located in Oakland, this property at 1519 48th Avenue features three detached units on a single lot, offering income potential. The property includes one 2-bedroom, 1-bath house and two 3-bedroom, 1-bath houses. Additionally, there is a separate laundry room and storage room. Recent upgrades have been completed in Unit C, and the property is generally well-maintained. The property is located near public transportation, shops, and dining. Units B and C have existing notices of violation, and the buyer will be responsible for working with the City to bring the property into compliance. The property size is 1304 square feet.
Key Highlights
- Three detached units on one lot offer strong in‑place income with major upside potential.
- Includes one 2‑bedroom/1‑bath house and two 3‑bedroom/1‑bath houses.
- Well‑maintained property overall, with recent upgrades to Unit C.
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
$27,765
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
4.64%
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%
$555,300
$555.3K
Cap Rate 7%
$396,643
$396.6K
Cap Rate 9%
$308,500
$308.5K
Market Conditions
NOI Build-Up for 1,304 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
$52.4K $40.20/SF
− Vacancy
−$1.9K −$1.49/SF
EGI
$50.5K $38.71/SF
− OpEx
−$22.7K −$17.42/SF
NOI
$27.8K $21.29/SF
Area
ZIP 94601
Vacancy
3.70%
Lease Rate
$40.20 /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%
$555,300
Cap Rate 7%
$396,643
Cap Rate 9%
$308,500
Alternative Uses
Best Use
Apartment 5plus
$396.6K
$347.1K – $462.8K
NOI $27,765 @ 7.0% cap · market cap 4.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$531.5K
$465.1K – $620.1K
NOI $37,207 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,407
Businesses Nearby
Explore this area
Business Placement
Demographics for 94601, CA
54,166
Population
17,454
Households
3.1
Avg Household Size
35
Median Age
24%
College-Educated
70%
High-School Grad
3.2 sq mi
ZIP Area
16,927
Density / Sq Mi
$66,651
Median Household Income
$37,765
Median Earnings
$1,651
Median Rent
$703,100
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?
Multifamily property - Three detached units with income and upside potential in Oakland.
Where is this multifamily property located?
The property is located at 1519 48th Avenue Oakland, CA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Three detached units on one lot offer strong in‑place income with major upside potential.; Includes one 2‑bedroom/1‑bath house and two 3‑bedroom/1‑bath houses.; Well‑maintained property overall, with recent upgrades to Unit C.
