Eight-Unit Apartment
For Sale
$1,395,000
2742 Park Boulevard, Oakland, CA 94606
Oakland multifamily property with a balanced mix of studio and one-bedroom residences near Lake Merritt.
Property Size4,860 SF
Lot Size0.10 Acres
Price / SF$287.04
Days on Market9
Property Features for 2742 Park Boulevard
General Information
Standard status
Active
Size
4,860 SF
Lot size
0.10 Acres
Property subtype
General Commercial
Units
Unit Mix
4 x 1BR/1BA, 4 x studio
Multifamily Units
8
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$25,233
Building Details
Year Built
1954
Buildings
1
Listing Agency:
(415) 345-3000
Listed By:
Compass
Source:
Xome
Added: Jul 28
Changed: Aug 3
Last Checked: Aug 5 at 4:53AM
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.
Built in 1954, this Oakland apartment property contains eight residences arranged as four one-bedroom units and four studio units. The building provides 4,860 square feet of area on a 4,500-square-foot lot, offering a compact multifamily configuration near established educational, employment, and cultural destinations.
The property is located near Lake Merritt and Laney College, with Downtown Oakland also within reach. Interstate 580 provides regional access across the East Bay and to destinations beyond. The surrounding setting connects residents with downtown services, dining, entertainment, and nearby institutional activity.
The property is located near Lake Merritt and Laney College, with Downtown Oakland also within reach. Interstate 580 provides regional access across the East Bay and to destinations beyond. The surrounding setting connects residents with downtown services, dining, entertainment, and nearby institutional activity.
Key Highlights
- Eight‑unit apartment building with four one‑bedroom units and four studio units
- 4,860 square feet of building area on a 4,500 square‑foot lot
- Built in 1954
Financial Insights For Apartment 5plus
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 | $183.7k | $37.80 |
| − Vacancy | −$10.1k | −$2.08 |
| EGI | $173.6k | $35.72 |
| − OpEx | −$78.1k | −$16.07 |
| NOI | $95.5k | $19.65 |
4,860 SF · lease $37.80/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.36M
$1.19M – $1.59M
NOI $95,482 @ 7.0% cap · market cap 6.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $154,973 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,748
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 - Oakland multifamily property with a balanced mix of studio and one-bedroom residences near Lake Merritt.
Where is this apartment building located?
The property is located at 2742 Park Boulevard Oakland, CA.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Eight‑unit apartment building with four one‑bedroom units and four studio units; 4,860 square feet of building area on a 4,500 square‑foot lot; Built in 1954
