Oakland Multifamily Investment
For Sale
$1,280,000
2116 International Blvd, Oakland, CA 94606
Multi-unit property near BART with income potential in Oakland.
Property Size3,000 SF
Lot Size0.09 Acres
Price / SF$426.67
Days on Market153
Property Features for 2116 International Blvd
General Information
Standard status
Active
Size
3,000 SF
Lot size
0.09 Acres
Property subtype
Investment
Building Details
Year Built
1964
Units
4
Listing Agency:
Real Estate Ebroker Inc
(510) 409-6855
Listed By:
Son Luu · License #01711002
(510) 409-6855
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 6:23AM
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 Real Estate Ebroker Inc
Investment Insights
Based on property information with market context.
This multi-unit property, situated in a developing Oakland neighborhood, presents an investment opportunity. The building includes 4 legal units and 2 non-conforming units, providing a total of 6 income-producing spaces. The property is located near the Fruitvale and Lake Merritt BART Stations, with convenient access to the 880 freeway. The building encompasses over 3,000 square feet of living space on a 3,703 square foot lot. The property benefits from stable tenancy and rental upside potential. Its location offers proximity to shops, restaurants, public transit, and major transportation corridors. The property is located in an up-and-coming area near Fruitvale and Lake Merritt. The property is suited for investors seeking cash flow and long-term growth. Verification of all permits, square footage, and unit legality is the responsibility of the buyer.
Key Highlights
- Strong income potential with 4 legal units and 2 non‑conforming units (6 total income‑producing spaces).
- Excellent investment opportunity in a rapidly developing Oakland neighborhood.
- Convenient access to Fruitvale and Lake Merritt BART Stations and the I‑880 freeway.
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
$58,940
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
4.60%
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%
$1,178,800
$1.2M
Cap Rate 7%
$842,000
$842.0K
Cap Rate 9%
$654,889
$654.9K
Market Conditions
NOI Build-Up for 3,000 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
$113.4K $37.80/SF
− Vacancy
−$6.2K −$2.08/SF
EGI
$107.2K $35.72/SF
− OpEx
−$48.2K −$16.07/SF
NOI
$58.9K $19.65/SF
Area
ZIP 94606
Vacancy
5.50%
Lease Rate
$37.80 /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%
$1,178,800
Cap Rate 7%
$842,000
Cap Rate 9%
$654,889
Alternative Uses
Best Use
Apartment 5plus
$842.0K
$736.8K – $982.3K
NOI $58,940 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.59M
NOI $95,662 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,679
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?
Apartment building - Multi-unit property near BART with income potential in Oakland.
Where is this apartment building located?
The property is located at 2116 International Blvd Oakland, CA.
What is the asking price?
The asking price for this property is $1,280,000.
What are key features of this property?
This property features: Strong income potential with 4 legal units and 2 non‑conforming units (6 total income‑producing spaces).; Excellent investment opportunity in a rapidly developing Oakland neighborhood.; Convenient access to Fruitvale and Lake Merritt BART Stations and the I‑880 freeway.
