Four-Unit Apartment
For Sale
$1,280,000
2116 International Blvd, Oakland, CA 94606
MULTI_FAMILY - Oakland, CA
Property Size3,011 SF
Lot Size0.09 Acres
Price / SF$425.11
Days on Market312
Property Features for 2116 International Blvd
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bathroom 4, Bedroom 5, Bedroom 1, Bedroom 8, Bedroom 2, Bedroom 4, Bedroom 7, Bathroom 1, Bathroom 3, Bedroom 3, Bathroom 2
Parking features
None
Exterior features
Balcony, Side Yard
Fencing
Fenced
Subdivision
East Oakland
Lot features
Security Gate, Street Light(s)
Standard status
Active
APN
2015017
Size
3,011 SF
Lot size
0.09 Acres
Utilities
Heating system
Wall Furnace
Cooling system
Multi Units
Building Details
Year built
1964
Number of units
4
Flooring type
Laminate, Tile
Building materials
Concrete, Stucco
Roof type
Flat
Listing Agency:
Real Estate Ebroker Inc
(760) 722-3222
Listed By:
Son Luu · License #01711002
(510) 409-6855
Added: Oct 6, 2025
Changed: Aug 2
Last Checked: Aug 13 at 3:06AM
MLS# 41113930
Copyright © 2026 Bay East. 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 apartment building includes 4 legal units plus 2 non-conforming units, for a total of 6 income-producing spaces. The property is a well-maintained, concrete-and-stucco structure built in 1964, with a flat roof and fenced exterior. Interior finishes include laminate and tile flooring, with wall furnace heating and multi-unit cooling.
The building provides over 3,000 sq. ft. of living space and sits on a 3,703 sq. ft. lot (0.085 acres). Parking is listed as none. Outdoor features include a balcony and side yard.
Located at 2116 International Blvd in Oakland (94606), the property is described as being near Fruitvale and Lake Merritt BART Stations with easy access to the 880 freeway, placing it close to shops, restaurants, public transit, and major transportation corridors. Buyer to verify permits, square footage, and unit legality.
The building provides over 3,000 sq. ft. of living space and sits on a 3,703 sq. ft. lot (0.085 acres). Parking is listed as none. Outdoor features include a balcony and side yard.
Located at 2116 International Blvd in Oakland (94606), the property is described as being near Fruitvale and Lake Merritt BART Stations with easy access to the 880 freeway, placing it close to shops, restaurants, public transit, and major transportation corridors. Buyer to verify permits, square footage, and unit legality.
Key Highlights
- 4 legal units plus 2 non‑conforming units for 6 income‑producing spaces
- Over 3,000 sq. ft. of living space plus 3,703 sq. ft. lot (0.085 acres)
- Balcony and side yard with fenced exterior
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
$59,156
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
4.62%
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%
$1,183,120
$1.2M
Cap Rate 7%
$845,086
$845.1K
Cap Rate 9%
$657,289
$657.3K
Market Conditions
NOI Build-Up for 3,011 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
$113.8K $37.80/SF
− Vacancy
−$6.3K −$2.08/SF
EGI
$107.6K $35.72/SF
− OpEx
−$48.4K −$16.07/SF
NOI
$59.2K $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%
$1,183,120
Cap Rate 7%
$845,086
Cap Rate 9%
$657,289
Alternative Uses
Best Use
Apartment 5plus
$845.1K
$739.5K – $985.9K
NOI $59,156 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $96,013 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Highway access
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 - Four legal units plus two non-conforming spaces in a 1964 apartment building with balconies and a side yard.
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: 4 legal units plus 2 non‑conforming units for 6 income‑producing spaces; Over 3,000 sq. ft. of living space plus 3,703 sq. ft. lot (0.085 acres); Balcony and side yard with fenced exterior
