Four-Unit Multifamily
New
For Sale
$849,000
Pending
1640 104Th Ave, Oakland, CA 94603
Residential Income, Oakland, CA
Property Size3,553 SF
Lot Size0.12 Acres
Days on Market3
Property Features for 1640 104Th Ave
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Rooms
Bedroom 6, Bedroom 1, Bedroom 5, Bedroom 4, Bedroom 8, Bedroom 3, Bedroom 2, Bedroom 7
Parking
8
Parking features
Garage, Open
Security features
Security
Fencing
Fenced
Subdivision
IVY WOOD EXT.
Lot features
Level
Standard status
Pending
APN
47550925
Size
3,553 SF
Lot size
0.12 Acres
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Water source
Public
Amenities
gated entry
coin-operated laundry
Building Details
Year built
1963
Flooring type
Carpet - Partial, Laminate
Building materials
Stucco
Listing Agency:
Corcoran Icon Properties · Better Homes and Gardens Real Estate
(510) 428-0900
Listed By:
Robert Thacher
(415) 307-3414
Added: Sep 22
Last Checked: Sep 24 at 9:06PM
MLS# 41149036
Copyright © 2026 bridgeMLS. 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 1963 two-story multifamily building contains four units across 3,553 square feet on a 0.1205-acre lot. The unit mix includes one 3BR/1+BA residence, two 2BR/1BA units, and one 1BR/1BA unit. Construction includes stucco exterior, partial carpet and laminate flooring, and wall-furnace heating. The property also provides garage and open parking, with one garage space assigned to each unit.
Gated front-driveway entries secure the property, while a tenant-only coin-operated laundry facility adds an on-site amenity. Gas and electric are separately metered, and the landlord pays for water and trash removal. Two units are vacant and two are occupied at below-market rental rates. Public water and sewer serve the property.
Gated front-driveway entries secure the property, while a tenant-only coin-operated laundry facility adds an on-site amenity. Gas and electric are separately metered, and the landlord pays for water and trash removal. Two units are vacant and two are occupied at below-market rental rates. Public water and sewer serve the property.
Key Highlights
- Four‑unit, two‑story multifamily building with 3,553 square feet
- Unit mix includes one 3BR/1+BA, two 2BR/1BA, and one 1BR/1BA units
- Built in 1963 on a 0.1205‑acre lot
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
$72,554
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
8.55%
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%
$1,451,080
$1.5M
Cap Rate 7%
$1,036,486
$1.0M
Cap Rate 9%
$806,156
$806.2K
Market Conditions
NOI Build-Up for 3,553 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
$110.9K $31.20/SF
− Vacancy
−$7.2K −$2.03/SF
EGI
$103.6K $29.17/SF
− OpEx
−$31.1K −$8.75/SF
NOI
$72.6K $20.42/SF
Area
ZIP 94603
Vacancy
6.50%
Lease Rate
$31.20 /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%
$1,451,080
Cap Rate 7%
$1,036,486
Cap Rate 9%
$806,156
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$906.9K – $1.21M
NOI $72,554 @ 7.0% cap · market cap 8.55%
Second Best
Apartment 5plus
$961.5K
$841.3K – $1.12M
NOI $67,307 @ 7.0% cap · market cap 7.93%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Utilities to site
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Two-story residential income property with gated access, garage parking, and on-site tenant laundry.
Where is this quadplex located?
The property is located at 1640 104Th Ave Oakland, CA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Four‑unit, two‑story multifamily building with 3,553 square feet; Unit mix includes one 3BR/1+BA, two 2BR/1BA, and one 1BR/1BA units; Built in 1963 on a 0.1205‑acre lot
