Turnkey Multifamily Near Lake
For Sale
$6,450,000
1560 Jackson Street, Oakland, CA 94612
33-unit multifamily property near Lake Merritt and Downtown Oakland.
Property Size19,587 SF
Days on Market156
Property Features for 1560 Jackson Street
General Information
Standard status
Active
Size
19,587 SF
Building Details
Building Size
19,587 SF
Year Built
1959
Units
33
Listing Agency:
NAI NORTHERN CALIFORNIA
(415) 246-4314
Listed By:
Grant Chappell · License #CalDRE #01700439
(415) 246-4314
Source:
Nainorcal
Added: Mar 6
Changed: Aug 8
Last Checked: May 11 at 7:09AM
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 NAI NORTHERN CALIFORNIA
Investment Insights
Based on property information with market context.
This 33-unit multifamily property is a turnkey asset with potential for rental upside. The majority of units have been renovated to include granite countertops, stainless steel appliances, and new fixtures. The property includes 25 off-street parking spaces, laundry facilities, remote entry, and separate gas and electric metering. It is located in the Westlake neighborhood, near Oakland's Central Business District, two blocks from Lake Merritt, and close to Downtown Oakland and two BART stations. The building has a new facade, exterior paint, and windows. The property is soft story exempt and is suitable for multifamily investors seeking opportunities in the East Bay area. The property is ideally located two blocks from Lake Merritt and has close proximity to Downtown Oakland and two BART stations. The property is separately metered for gas and electric.
Key Highlights
- Turnkey 33‑unit multifamily property with substantial rental upside.
- Assumable Chase debt fixed at 3.5% until May, 2030.
- Ideally located two blocks from Lake Merritt and close to Downtown Oakland and two BART stations.
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
$413,580
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
6.41%
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%
$8,271,600
$8.3M
Cap Rate 7%
$5,908,286
$5.9M
Cap Rate 9%
$4,595,333
$4.6M
Market Conditions
NOI Build-Up for 19,587 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
$787.4K $40.20/SF
− Vacancy
−$35.4K −$1.81/SF
EGI
$752.0K $38.39/SF
− OpEx
−$338.4K −$17.28/SF
NOI
$413.6K $21.12/SF
Area
Oakland, CA
Vacancy
4.50%
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%
$8,271,600
Cap Rate 7%
$5,908,286
Cap Rate 9%
$4,595,333
Alternative Uses
Best Use
Apartment 5plus
$5.91M
$5.17M – $6.89M
NOI $413,580 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$6.41M
$5.61M – $7.48M
NOI $448,890 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
9,650
Businesses Nearby
Explore this area
Business Placement
Demographics for 94612, CA
19,773
Population
11,928
Households
1.7
Avg Household Size
38
Median Age
54%
College-Educated
87%
High-School Grad
1.0 sq mi
ZIP Area
19,773
Density / Sq Mi
$77,069
Median Household Income
$70,221
Median Earnings
$1,936
Median Rent
$814,000
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 - 33-unit multifamily property near Lake Merritt and Downtown Oakland.
Where is this apartment building located?
The property is located at 1560 Jackson Street Oakland, CA.
What is the asking price?
The asking price for this property is $6,450,000.
What are key features of this property?
This property features: Turnkey 33‑unit multifamily property with substantial rental upside.; Assumable Chase debt fixed at 3.5% until May, 2030.; Ideally located two blocks from Lake Merritt and close to Downtown Oakland and two BART stations.
