Remodeled Duplex with Separate
New
For Sale
$825,000
1620 12Th Ave, Oakland, CA 94606
Extensively remodeled two-unit property with active leases and individually metered electricity.
Property Size1,520 SF
Price / SF$542.76
Days on Market6
Property Features for 1620 12Th Ave
General Information
Standard status
Active
Size
1,520 SF
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Building Details
Year Built
1905
Tenancy
Multi
Listing Agency:
Bayview Resid. Brokerage
(510) 760-7076
Listed By:
Louis Robelo · License #01750679
(510) 760-7076
Source:
Exitrealty
Added: Aug 5
Changed: Aug 10
Last Checked: Aug 10 at 3:05AM
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 Bayview Resid. Brokerage
Investment Insights
Based on property information with market context.
This 1,520-square-foot duplex, originally built in 1905, has undergone extensive remodeling and is configured as an income-producing residential property. Both units are occupied under active leases, and each residence has its own water heater and separate electric metering, supporting straightforward utility management.
Located at 1620 12th Ave in Oakland, the property is positioned near shopping, dining, schools, parks, public transportation, and major freeway corridors. Showings are available by appointment with at least 24 hours’ notice, and tenant privacy is requested.
Located at 1620 12th Ave in Oakland, the property is positioned near shopping, dining, schools, parks, public transportation, and major freeway corridors. Showings are available by appointment with at least 24 hours’ notice, and tenant privacy is requested.
Key Highlights
- 1,520 SF duplex with extensive remodeling
- Built in 1905
- Both units have active leases
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
$32,674
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
3.96%
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%
$653,480
$653.5K
Cap Rate 7%
$466,771
$466.8K
Cap Rate 9%
$363,044
$363.0K
Market Conditions
NOI Build-Up for 1,520 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
$49.2K $32.40/SF
− Vacancy
−$2.6K −$1.69/SF
EGI
$46.7K $30.71/SF
− OpEx
−$14.0K −$9.21/SF
NOI
$32.7K $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%
$653,480
Cap Rate 7%
$466,771
Cap Rate 9%
$363,044
Alternative Uses
Best Use
Multifamily LT 5
$466.8K
$408.4K – $544.6K
NOI $32,674 @ 7.0% cap · market cap 3.96%
Second Best
Apartment 5plus
$426.6K
$373.3K – $497.7K
NOI $29,863 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$692.4K
$605.9K – $807.8K
NOI $48,469 @ 7.0% cap · market cap 5.88%
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
1,518
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 - Extensively remodeled two-unit property with active leases and individually metered electricity.
Where is this duplex located?
The property is located at 1620 12Th Ave Oakland, CA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 1,520 SF duplex with extensive remodeling; Built in 1905; Both units have active leases
