Oakland Multifamily Investment
For Sale
$6,250,000
2505 10th Ave, Oakland, CA 94606
35-unit apartment complex in Oakland with strategic investment potential.
Property Size23,750 SF
Price / SF$263.16
Days on Market174
Property Features for 2505 10th Ave
General Information
Standard status
Active
Size
23,750 SF
Property subtype
Commercial
Amenities
Electric Heating
Building Details
Year Built
1957
Listing Agency:
INFINITY INVESTMENTS
(510) 380-8101
Listed By:
STEVEN PETERSON · License #01746140
(510) 675-7755
Source:
Corcoran
Added: Mar 13
Changed: Aug 17
Last Checked: Sep 1 at 7:05PM
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 INFINITY INVESTMENTS
Investment Insights
Based on property information with market context.
Eastlake Apartments is a 35-unit market rate apartment complex located in Oakland, totaling 23,750 square feet. The property comprises 3 buildings on 1 lot and includes 29 one-bedroom/one-bathroom units, 5 two-bedroom/one-bath units, and 1 studio unit. There are 31 on-site parking spaces available. The property offers a strategic opportunity for an investor to establish a substantial presence in Oakland. It presents a compelling opportunity for workforce housing investment, offering investors a reliable and consistent revenue stream, driven by the growing demand for affordable housing in the Oakland market. Amenities include on-site laundry and secured access entry. The units feature mostly dual-pane windows, and individual gas and electricity meters. Some units offer views of downtown Oakland. The property benefits from exceptional connectivity to the Bay Area, with convenient access to Lake Merritt, Interstate 580 and 880, and proximity to Oakland International Airport, allowing residents several transportation options and ease of access to key regions throughout the Bay.
Key Highlights
- 35‑unit apartment complex in Oakland offering a substantial presence in the market.
- Reliable revenue stream driven by demand for workforce housing.
- Excellent connectivity to the Bay Area via Lake Merritt, I‑580, I‑880, and Oakland International Airport.
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
$466,606
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
7.47%
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%
$9,332,120
$9.3M
Cap Rate 7%
$6,665,800
$6.7M
Cap Rate 9%
$5,184,511
$5.2M
Market Conditions
NOI Build-Up for 23,750 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
$897.7K $37.80/SF
− Vacancy
−$49.4K −$2.08/SF
EGI
$848.4K $35.72/SF
− OpEx
−$381.8K −$16.07/SF
NOI
$466.6K $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%
$9,332,120
Cap Rate 7%
$6,665,800
Cap Rate 9%
$5,184,511
Alternative Uses
Best Use
Apartment 5plus
$6.67M
$5.83M – $7.78M
NOI $466,606 @ 7.0% cap · market cap 7.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.82M
$9.47M – $12.62M
NOI $757,325 @ 7.0% cap · market cap 12.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,535
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 - 35-unit apartment complex in Oakland with strategic investment potential.
Where is this apartment building located?
The property is located at 2505 10th Ave Oakland, CA.
What is the asking price?
The asking price for this property is $6,250,000.
What are key features of this property?
This property features: 35‑unit apartment complex in Oakland offering a substantial presence in the market.; Reliable revenue stream driven by demand for workforce housing.; Excellent connectivity to the Bay Area via Lake Merritt, I‑580, I‑880, and Oakland International Airport.
