Eight-Unit Apartment
New
For Sale
$1,800,000
2300 Fruitvale Ave, Oakland, CA 94601
Two buildings occupy a secured corner parcel with enclosed parking and upgraded interiors in select residences.
Property Size5,200 SF
Lot Size0.16 Acres
Days on Market3
Property Features for 2300 Fruitvale Ave
General Information
Standard status
Active
Size
5,200 SF
Lot size
0.16 Acres
Property subtype
5 or More Units
Additional Details
Asking Price
$1,800,000
Multifamily Units
8
Amenities
keyfob-secured gates
enclosed parking
built-in package drop
Building Details
Building Size
5,200 SF
Year Built
1928
Buildings
2
Listing Agency:
EXP Realty of California, Inc
Listed By:
Scott Piper
(925) 989-1300
Source:
Coastandcore
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 1 at 9:47PM
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 eight-unit apartment property comprises two buildings on a 6,800-square-foot corner lot at 2300 Fruitvale Ave in Oakland. Constructed in 1928, the asset includes enclosed parking, front and rear keyfob-controlled gates, custom iron fencing, mature Italian cypress, and a built-in package drop.
Two residences feature extensive interior upgrades, including slate tile, ductless mini-split climate control, in-unit LG washer and dryer sets, quartz and marble kitchens with Samsung appliances and wine refrigerators, and renovated bathrooms with frameless glass showers and floating vanities. The other six units have a documented refurbishment plan. The property carries a 9.2% pro forma cap rate at full stabilization.
Two residences feature extensive interior upgrades, including slate tile, ductless mini-split climate control, in-unit LG washer and dryer sets, quartz and marble kitchens with Samsung appliances and wine refrigerators, and renovated bathrooms with frameless glass showers and floating vanities. The other six units have a documented refurbishment plan. The property carries a 9.2% pro forma cap rate at full stabilization.
Key Highlights
- Eight units across two apartment buildings
- 6,800 SF corner lot at 2300 Fruitvale Ave, Oakland, CA 94601
- Two residences feature slate tile, ductless mini‑splits, LG washer/dryer sets, and upgraded kitchens
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
$110,718
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
6.15%
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%
$2,214,360
$2.2M
Cap Rate 7%
$1,581,686
$1.6M
Cap Rate 9%
$1,230,200
$1.2M
Market Conditions
NOI Build-Up for 5,200 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
$209.0K $40.20/SF
− Vacancy
−$7.7K −$1.49/SF
EGI
$201.3K $38.71/SF
− OpEx
−$90.6K −$17.42/SF
NOI
$110.7K $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%
$2,214,360
Cap Rate 7%
$1,581,686
Cap Rate 9%
$1,230,200
Alternative Uses
Best Use
Apartment 5plus
$1.58M
$1.38M – $1.85M
NOI $110,718 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.12M
$1.85M – $2.47M
NOI $148,370 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,373
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Two buildings occupy a secured corner parcel with enclosed parking and upgraded interiors in select residences.
Where is this apartment building located?
The property is located at 2300 Fruitvale Ave Oakland, CA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Eight units across two apartment buildings; 6,800 SF corner lot at 2300 Fruitvale Ave, Oakland, CA 94601; Two residences feature slate tile, ductless mini‑splits, LG washer/dryer sets, and upgraded kitchens
