Triplex with Converted Garage
2506 Highland Ave Oakland, CA 94606
For Sale
$899,000
Three-unit residential income property includes a 4B/2B main home plus two separate 2B/1B units.
Property Size2,265 SF
Price / SF$396.91
Days on Market70
Property Features for 2506 Highland Ave
General Information
- Standard status
- Active
- Size
- 2,265 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1911
Listing Agency:
RE/MAX Accord
(510) 590-1628
Listed By:
Leo Zhang · License #02024974
(510) 590-1628
Source:
Exitrealty
Added: May 15
Changed: Jul 23
Last Checked: Jul 23 at 9:14AM
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 RE/MAX Accord
Investment Insights
Based on property information with market context.
This triplex-style income property offers three separate units configured for rental use. The main level features a spacious 4B/2B layout with a large living and dining area, traditional crown molding, and a kitchen with cherrywood cabinets and included appliances. A converted garage provides an additional 2B/1B unit, creating a second independent rental space. The back unit is a fully independent 2B/1B residence with its own PG&E and water meters, along with a full kitchen and bathroom.
Outside, the property sits on a generous lot with a decent-sized backyard, a wide driveway, and an automatic security gate.
Market rent estimates provided in the listing indicate potential gross monthly income of $8,700, based on $3,500/month for the 4B/2B main unit, $2,700/month for the upper 2B/1B unit, and $2,500/month for the lower converted 2B/1B unit.
Outside, the property sits on a generous lot with a decent-sized backyard, a wide driveway, and an automatic security gate.
Market rent estimates provided in the listing indicate potential gross monthly income of $8,700, based on $3,500/month for the 4B/2B main unit, $2,700/month for the upper 2B/1B unit, and $2,500/month for the lower converted 2B/1B unit.
Key Highlights
- Three‑unit residential income property: one 4B/2B main home plus two separate 2B/1B units.
- Converted garage provides an additional 2B/1B unit with its own living setup for rental income.
- Back unit is fully independent with separate PG&E and water meters, plus full kitchen and bathroom.
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 | $73.4k | $32.40 |
| − Vacancy | −$3.8k | −$1.69 |
| EGI | $69.6k | $30.71 |
| − OpEx | −$20.9k | −$9.21 |
| NOI | $48.7k | $21.50 |
2,265 SF · lease $32.40/SF/yr · vacancy 5.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$695.6K
$608.6K – $811.5K
NOI $48,689 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$635.7K
$556.2K – $741.7K
NOI $44,499 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$1.03M
$902.8K – $1.20M
NOI $72,225 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Three-unit residential income property includes a 4B/2B main home plus two separate 2B/1B units.
Where is this triplex located?
The property is located at 2506 Highland Ave Oakland, CA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Three‑unit residential income property: one 4B/2B main home plus two separate 2B/1B units.; Converted garage provides an additional 2B/1B unit with its own living setup for rental income.; Back unit is fully independent with separate PG&E and water meters, plus full kitchen and bathroom.
