2802 38th Ave Oakland, CA 94619
Triplex with two 2BR/1BA units, one 3BR/1BA unit, and one commercial space; tenants cover most utilities.
Property Features for 2802 38th Ave
General Information
- Standard status
- Active
- Size
- 3,171 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1925
Listing office Realty ONE Group Future (510) 304-0888
Listing date May 4, 2026
Source Exitrealty
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 Realty ONE Group Future
Investment Insights
Based on property information with market context.
The property is located in the Allendale neighborhood of Oakland and benefits from proximity to I-580 for access to Downtown Oakland and San Francisco. Nearby retail corridors are described along Fruitvale Avenue and MacArthur Boulevard.
The offering is projected to reach approximately $90,384+ annually, with an estimated cap rate in the ~7% range (buyer to verify).
Key Highlights
- Built in 1925 mixed‑use property with 3 residential units plus 1 commercial space
- Unit mix: two 2BR/1BA units and one 3BR/1BA unit
- Currently generating approx. $7,500/month (~$90,000+ annually) in rental income
Local 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 | $108.4k | $34.20 |
| − Vacancy | −$4.6k | −$1.46 |
| EGI | $103.8k | $32.74 |
| − OpEx | −$31.1k | −$9.82 |
| NOI | $72.7k | $22.92 |
