Oakland Multifamily Property with
For Sale
Contact for pricing
1900 26th Ave, Oakland, CA 94601
Nostalgic 41-unit building in Oakland with renovation and upside.
Property Size31,889 SF
Price / SF$250.71
Days on Market196
Property Features for 1900 26th Ave
General Information
Standard status
Active
Size
31,889 SF
Class
B
Property subtype
Multifamily
Building Details
Year Built
1928
Buildings
1
Stories
3
Units
41
Listing Agency:
California and Oakland Affordable Housing Group, LLC
Listed By:
Frederick Lewis · License #CA
Source:
Crexi
Added: Feb 19
Changed: Sep 2
Last Checked: Sep 1 at 6:13PM
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 California and Oakland Affordable Housing Group, LLC
Investment Insights
Based on property information with market context.
Located at 1900 26th Ave in Oakland, California, this three-story multifamily property was built in 1928. The building features 41 residential units, encompassing 31,889 square feet of gross building area, situated on two parcels along with a full city block of 43 garages. The unit mix includes 24 studio units, 13 one-bedroom/one-bathroom units, and 4 two-bedroom/one-bathroom units. The building has a concrete perimeter foundation, wood exterior walls, and a composition shingle roof. On-site laundry facilities are available. Eighty percent of the units have been renovated, and all units have separate meters. The property benefits from a video surveillance camera system. A fire three years ago led to a $3,500,000 rehabilitation of the units, including new electric and plumbing. Soft story work and sewer lateral have been completed. The property is considered to be in good condition with no deferred maintenance and is professionally landscaped. The complex is close to the Fruitvale Transit Village and Bart Station. The surrounding neighborhood is bike-friendly and walkable, with nearby stores, public transportation, parks, and shops. Streets are lined with trees and well-lit at night. The property allows the next owner to increase returns and leverage investment in the hot Oakland market, with 20% upside in the current rents. The regulatory agreement allows this property to have a waiver of Ad Valorem property taxes.
Key Highlights
- Significant rental upside (20%) in the hot Oakland market.
- Recent $3,500,000 rehabilitation with new electric and plumbing after a fire 3 years ago.
- Ad Valorem property tax waiver due to regulatory agreement.
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
$678,978
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
8.49%
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%
$13,579,560
$13.6M
Cap Rate 7%
$9,699,686
$9.7M
Cap Rate 9%
$7,544,200
$7.5M
Market Conditions
NOI Build-Up for 31,889 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
$1.28M $40.20/SF
− Vacancy
−$47.4K −$1.49/SF
EGI
$1.23M $38.71/SF
− OpEx
−$555.5K −$17.42/SF
NOI
$679.0K $21.29/SF
Area
ZIP 94601
Vacancy
3.70%
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%
$13,579,560
Cap Rate 7%
$9,699,686
Cap Rate 9%
$7,544,200
Alternative Uses
Best Use
Apartment 5plus
$9.70M
$8.49M – $11.32M
NOI $678,978 @ 7.0% cap · market cap 8.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.00M
$11.37M – $15.16M
NOI $909,880 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,132
Businesses Nearby
Explore this area
Business Placement
Demographics for 94601, CA
54,166
Population
17,454
Households
3.1
Avg Household Size
35
Median Age
24%
College-Educated
70%
High-School Grad
3.2 sq mi
ZIP Area
16,927
Density / Sq Mi
$66,651
Median Household Income
$37,765
Median Earnings
$1,651
Median Rent
$703,100
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 - Nostalgic 41-unit building in Oakland with renovation and upside.
Where is this apartment building located?
The property is located at 1900 26th Ave Oakland, CA.
What is the asking price?
The asking price for this property is $7,995,000.
What are key features of this property?
This property features: Significant rental upside (20%) in the hot Oakland market.; Recent $3,500,000 rehabilitation with new electric and plumbing after a fire 3 years ago.; Ad Valorem property tax waiver due to regulatory agreement.
