Four-Unit Multifamily
For Sale
$499,000
Pending
1602 103rd Ave, Oakland, CA 94603
Residential Income, Oakland, CA
Property Size2,394 SF
Lot Size0.12 Acres
Days on Market54
Property Features for 1602 103rd Ave
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 4, Bathroom 2, Bedroom 4, Bedroom 1, Bathroom 3, Bedroom 3, Bathroom 1
Exterior features
Back Yard
Subdivision
Ivy Wood Ext.
Lot features
2 Houses / 1 Lot
Directions
USE GPS
Standard status
Pending
APN
47551111
Size
2,394 SF
Lot size
0.12 Acres
Utilities
Water source
Public
Building Details
Year built
1940
Number of units
4
Flooring type
Laminate
Roof type
Composition
Listing Agency:
EXP Realty of California, Inc
(888) 584-9427
Listed By:
Nicholas Liesenfeld · License #01364555
(510) 606-0107
Added: Jul 10
Changed: Aug 24
Last Checked: Sep 1 at 12:06PM
MLS# 41141178
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.
This four-unit residential property in Oakland provides approximately 2,394 square feet of living area on a 5,200-square-foot lot. The building includes four bedrooms and four bathrooms, with three units occupied and one currently vacant. Built in 1940, the property has laminate flooring, a composition roof, public water service, and a backyard.
Located at 1602 103rd Ave in Oakland’s Iveywood neighborhood, the property is near neighborhood shopping, dining, public transportation, and major commuter routes. The unit count, existing occupancy, and vacant unit are all established within the current configuration.
Located at 1602 103rd Ave in Oakland’s Iveywood neighborhood, the property is near neighborhood shopping, dining, public transportation, and major commuter routes. The unit count, existing occupancy, and vacant unit are all established within the current configuration.
Key Highlights
- Four total units with three occupied and one vacant
- Approximately 2,394 square feet of living space
- 5,200‑square‑foot lot, equal to 0.1194 acres
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
$45,352
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
9.09%
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%
$907,040
$907.0K
Cap Rate 7%
$647,886
$647.9K
Cap Rate 9%
$503,911
$503.9K
Market Conditions
NOI Build-Up for 2,394 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
$87.9K $36.72/SF
− Vacancy
−$5.5K −$2.28/SF
EGI
$82.5K $34.44/SF
− OpEx
−$37.1K −$15.50/SF
NOI
$45.4K $18.94/SF
Area
ZIP 94603
Vacancy
6.20%
Lease Rate
$36.72 /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%
$907,040
Cap Rate 7%
$647,886
Cap Rate 9%
$503,911
Alternative Uses
Best Use
Multifamily LT 5
$698.4K
$611.1K – $814.8K
NOI $48,886 @ 7.0% cap · market cap 9.80%
Second Best
Apartment 5plus
$647.9K
$566.9K – $755.9K
NOI $45,352 @ 7.0% cap · market cap 9.09%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
75%
Occupancy
Location Intelligence
Trade Area within ½ mile
849
Businesses Nearby
Explore this area
Business Placement
Demographics for 94603, CA
36,681
Population
11,199
Households
3.3
Avg Household Size
32
Median Age
15%
College-Educated
69%
High-School Grad
2.7 sq mi
ZIP Area
13,586
Density / Sq Mi
$71,086
Median Household Income
$37,025
Median Earnings
$1,838
Median Rent
$596,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Three occupied units and one vacant unit offer a mixed-occupancy configuration.
Where is this quadplex located?
The property is located at 1602 103rd Ave 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: Four total units with three occupied and one vacant; Approximately 2,394 square feet of living space; 5,200‑square‑foot lot, equal to 0.1194 acres
