San Pablo Avenue Investment
For Sale
$1,545,000
2401 San Pablo Avenue, Oakland, CA 94607
Two adjacent properties: residential and mixed-use, strong income potential.
Property Size5,780 SF
Price / SF$267.30
Days on Market175
Property Features for 2401 San Pablo Avenue
General Information
Standard status
Active
Size
5,780 SF
Total Parking Spaces
7
Property subtype
RESIDENTIAL INCOME / OTHER
Net Operating Income
$124,330
Amenities
Basement - Storage Area
Building Details
Year Built
2001
Listing Agency:
Compass
Listed By:
Willem Bos · License #02013980
(916) 698-9954
Source:
Compass
Added: Mar 27
Changed: Sep 15
Last Checked: Sep 15 at 11:39AM
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 Compass
Investment Insights
Based on property information with market context.
This is a rare opportunity to acquire two adjacent investment properties located along the San Pablo Avenue corridor. The properties can be acquired together or separately. Ideally situated near 19th Street BART, Highway 980, Downtown Oakland, Uptown, and Berkeley, 2401 and 2415 San Pablo Avenue combine to offer a 13-unit residential and mixed-use investment with strong in-place income and extensive capital improvements. The property at 2401 San Pablo Avenue is a 7-unit apartment building featuring a mix of one-bedroom, two-bedroom, and studio units, with several units featuring townhouse-style layouts and ceilings over 12 feet. Significant renovations have been completed, including a new commercial roof in 2024, exterior paint in 2025, multiple unit remodels, secured 1:1 parking, and separate gas, electric, and water meters. The property at 2415 San Pablo Avenue is a mixed-use asset consisting of 5 residential units and 1 ground-floor commercial space occupied by a long-term tattoo studio tenant, providing stable income. The residential units feature modern layouts, updated interiors, and access to a shared rooftop deck with panoramic views. This property also benefits from fire sprinklers, major seismic upgrades, and exterior improvements, with strong long-term income potential. The location has a bike score of 100, making it a biker's paradise, a walk score of 89, indicating it is very walkable, and a transit score of 67, indicating good transit options.
Key Highlights
- Rare opportunity: Two adjacent investment properties, 13 units total, in a prime location.
- Strong in‑place income from residential and commercial tenants.
- Ideally located near 19th Street BART, Hwy 980, Downtown Oakland, Uptown, and Berkeley.
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
$122,045
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
7.90%
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%
$2,440,900
$2.4M
Cap Rate 7%
$1,743,500
$1.7M
Cap Rate 9%
$1,356,056
$1.4M
Market Conditions
NOI Build-Up for 5,780 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
$232.4K $40.20/SF
− Vacancy
−$10.5K −$1.81/SF
EGI
$221.9K $38.39/SF
− OpEx
−$99.9K −$17.28/SF
NOI
$122.0K $21.12/SF
Area
Oakland, CA
Vacancy
4.50%
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%
$2,440,900
Cap Rate 7%
$1,743,500
Cap Rate 9%
$1,356,056
Alternative Uses
Best Use
Apartment 5plus
$1.74M
$1.53M – $2.03M
NOI $122,045 @ 7.0% cap · market cap 7.90%
Second Best
Mixed Use
$1.25M
$1.10M – $1.46M
NOI $87,740 @ 7.0% cap · market cap 5.68%
Theoretical Best
Multifamily LT 5
$1.89M
$1.66M – $2.21M
NOI $132,465 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,554
Businesses Nearby
Explore this area
Business Placement
Demographics for 94607, CA
31,067
Population
14,362
Households
2.2
Avg Household Size
38
Median Age
47%
College-Educated
86%
High-School Grad
5.9 sq mi
ZIP Area
5,266
Density / Sq Mi
$87,937
Median Household Income
$67,107
Median Earnings
$1,875
Median Rent
$744,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two adjacent properties: residential and mixed-use, strong income potential.
Where is this apartment building located?
The property is located at 2401 San Pablo Avenue Oakland, CA.
What is the asking price?
The asking price for this property is $1,545,000.
What are key features of this property?
This property features: Rare opportunity: Two adjacent investment properties, 13 units total, in a prime location.; Strong in‑place income from residential and commercial tenants.; Ideally located near 19th Street BART, Hwy 980, Downtown Oakland, Uptown, and Berkeley.
