Duplex with Separate
2227 Warner Ave Oakland, CA 94603
2227 Warner Ave, Oakland, CA, 94603
$549,000
For Sale
$549,000
Duplex with two rented units and separate utilities, with plans and permits available for a potential garage conversion to an ADU.
Property Size1,824 SF
Price / SF$300.99
Days on Market35
Property Features for 2227 Warner Ave
General Information
- Standard status
- Active
- Size
- 1,824 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1951
Listing Agency
eXp Realty of California, Inc.
(925) 808-1577
Listed by
Daniella Lopez · License #02180097
(925) 808-1577
Source
Exitrealty
Added: Jun 13 Checked: Jul 17 at 4:26 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 eXp Realty of California, Inc.
Investment Insights
Based on property information with market context.
This duplex offers two units currently rented at market-rate rents, with utilities set up separately for each unit. Plans and permits are available for a potential garage conversion to an ADU, creating a path to expand future rental income.
The property is positioned for convenient commuting with easy access to Interstate 580 and Interstate 880, as well as public transportation. It’s described as just minutes from shopping, dining, and everyday conveniences in the San Leandro business district.
For an owner-occupant or long-term investor, the separate utility setup supports independent unit management, while the available ADU conversion materials provide additional flexibility to consider future improvements.
The property is positioned for convenient commuting with easy access to Interstate 580 and Interstate 880, as well as public transportation. It’s described as just minutes from shopping, dining, and everyday conveniences in the San Leandro business district.
For an owner-occupant or long-term investor, the separate utility setup supports independent unit management, while the available ADU conversion materials provide additional flexibility to consider future improvements.
Key Highlights
- Duplex built in 1951 with both units currently rented at market‑rate rents
- Separate utilities for each unit
- Plans and permits available for a potential garage conversion to an ADU
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 | $56.9k | $31.20 |
| − Vacancy | −$3.7k | −$2.03 |
| EGI | $53.2k | $29.17 |
| − OpEx | −$16.0k | −$8.75 |
| NOI | $37.2k | $20.42 |
1,824 SF · lease $31.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$532.1K
$465.6K – $620.8K
NOI $37,247 @ 7.0% cap · market cap 6.78%
Second Best
Apartment 5plus
$493.6K
$431.9K – $575.9K
NOI $34,554 @ 7.0% cap · market cap 6.29%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Duplex with two rented units and separate utilities, with plans and permits available for a potential garage conversion to an ADU.
Where is this duplex located?
The property is located at 2227 Warner Ave Oakland, CA.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Duplex built in 1951 with both units currently rented at market‑rate rents; Separate utilities for each unit; Plans and permits available for a potential garage conversion to an ADU
