Duplex with Bonus Building
1993 38Th Ave Oakland, CA 94601
1993 38Th Ave, Oakland, CA, 94601
$585,000
For Sale
$585,000
Duplex configuration with rear bonus space, including a studio conversion, offering flexible income and layout options.
Property Size1,333 SF
Price / SF$438.86
Days on Market247
Property Features for 1993 38Th Ave
General Information
- Standard status
- Active
- Size
- 1,333 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1923
Listing Agency
Realty One Group Elite
(925) 899-5536
Listed by
Patrick McCarran · License #01325072
(925) 899-5536
Source
Exitrealty
Added: Nov 13, 2025 Checked: Jul 17 at 3:25 am
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 Realty One Group Elite
Investment Insights
Based on property information with market context.
This property is a duplex with a front 3-bedroom, 1-bath unit and a back 1-bedroom, 1-bath unit. In addition, there is a bonus building and a garage conversion described as a bonus studio unit, with permits listed as unknown. The sewer lateral is stated to be in compliance with building codes. There is also a large space in the rear that may allow for additional unit creation, along with a cozy community space directly behind unit 2 and a long driveway for access and potential parking.
The home is positioned for convenient commuting with easy freeway access and is close to the Fruitvale BART station. The surrounding area includes multiple markets, shops, and banks, supporting everyday tenant needs.
For buyers or operators seeking a duplex with room to adapt, the existing two-unit structure plus the additional rear space and studio conversion may support a range of rental or reconfiguration plans. Prospective tenants will benefit from the established unit mix, while buyers can evaluate the rear layout for possible expansion opportunities as permitted by applicable rules and approvals.
The home is positioned for convenient commuting with easy freeway access and is close to the Fruitvale BART station. The surrounding area includes multiple markets, shops, and banks, supporting everyday tenant needs.
For buyers or operators seeking a duplex with room to adapt, the existing two-unit structure plus the additional rear space and studio conversion may support a range of rental or reconfiguration plans. Prospective tenants will benefit from the established unit mix, while buyers can evaluate the rear layout for possible expansion opportunities as permitted by applicable rules and approvals.
Key Highlights
- Duplex built in 1923 with a 3‑bed/1‑bath front unit and a 1‑bed/1‑bath back unit
- Rear bonus space includes a garage conversion to a studio unit (permits unknown)
- Sewer lateral reported to be in compliance with building codes
Local 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 | $45.6k | $34.20 |
| − Vacancy | −$1.9k | −$1.44 |
| EGI | $43.7k | $32.76 |
| − OpEx | −$13.1k | −$9.83 |
| NOI | $30.6k | $22.93 |
1,333 SF · lease $34.20/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$436.7K
$382.2K – $509.5K
NOI $30,572 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$405.5K
$354.8K – $473.0K
NOI $28,382 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$543.3K
$475.4K – $633.9K
NOI $38,034 @ 7.0% cap · market cap 6.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Duplex configuration with rear bonus space, including a studio conversion, offering flexible income and layout options.
Where is this duplex located?
The property is located at 1993 38Th Ave Oakland, CA.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Duplex built in 1923 with a 3‑bed/1‑bath front unit and a 1‑bed/1‑bath back unit; Rear bonus space includes a garage conversion to a studio unit (permits unknown); Sewer lateral reported to be in compliance with building codes
