Mixed-Use Property With
New
For Sale
$650,000
1841 98Th Ave, Oakland, CA 94603
Two apartments complement a separately metered commercial laundry operation with dedicated off-street parking.
Property Size2,763 SF
Price / SF$235.25
Days on Market4
Property Features for 1841 98Th Ave
General Information
Standard status
Active
Size
2,763 SF
Property subtype
Multi Family
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1933
Listing Agency:
Red Oak Realty
(510) 499-1235
Listed By:
Thomas Garabedian Cone · License #02034258
(510) 499-1235
Source:
Exitrealty
Added: Jul 31
Changed: Aug 2
Last Checked: Aug 3 at 2:48AM
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 Red Oak Realty
Investment Insights
Based on property information with market context.
Built in 1933, this 2,763-square-foot mixed-use property combines two residential apartments with a commercial laundromat. Each apartment has its own private entrance and dedicated off-street parking, while all three units are separately metered. The laundry operation includes high-efficiency Dexter equipment described as being in like-new condition.
The property is across from Elmhurst Middle School and two short blocks from Verdese Carter Park in Oakland’s Cox/Iveywood neighborhood. The laundromat may be operated by the owner or leased to a third-party operator. Non-residential financing will be required.
The property is across from Elmhurst Middle School and two short blocks from Verdese Carter Park in Oakland’s Cox/Iveywood neighborhood. The laundromat may be operated by the owner or leased to a third-party operator. Non-residential financing will be required.
Key Highlights
- Mixed‑use property with 2 apartments and a commercial laundromat
- 2,763 SF property built in 1933
- All 3 units are separately metered
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $86.2k | $31.20 |
| − Vacancy | −$5.6k | −$2.03 |
| EGI | $80.6k | $29.17 |
| − OpEx | −$24.2k | −$8.75 |
| NOI | $56.4k | $20.42 |
2,763 SF · lease $31.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$806.0K
$705.3K – $940.4K
NOI $56,422 @ 7.0% cap · market cap 8.68%
Second Best
Apartment 5plus
$747.7K
$654.3K – $872.4K
NOI $52,342 @ 7.0% cap · market cap 8.05%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
489
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
Properties on Market for Mixed-use properties in Oakland
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two apartments complement a separately metered commercial laundry operation with dedicated off-street parking.
Where is this mixed-use property located?
The property is located at 1841 98Th Ave Oakland, CA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Mixed‑use property with 2 apartments and a commercial laundromat; 2,763 SF property built in 1933; All 3 units are separately metered
