Mixed-Use Apartment and
For Sale
$3,100,000
2821 Telegraph Avenue, Oakland, CA 94609
Two buildings offering seven apartment units and two retail stores along a high-traffic North Oakland corridor.
Property Size7,436 SF
Price / SF$416.89
Days on Market196
Property Features for 2821 Telegraph Avenue
General Information
Standard status
Active
Size
7,436 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
7
Building Details
Year Built
1908
Tenancy
Multi
Listing Agency:
Legacy Real Estate & Associates
(408) 712-2455
Listed By:
Steve Ahn · License #01844103
(408) 712-2455
Source:
Exitrealty
Added: Jan 29
Changed: Aug 8
Last Checked: Aug 12 at 5:08AM
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 Legacy Real Estate & Associates
Investment Insights
Based on property information with market context.
This mixed-use property consists of two buildings containing seven residential apartment units and two retail stores. The configuration supports combined rental income opportunities across both residential and street-level retail space.
The buildings are positioned along a high-traffic corridor in North Oakland, with access to public transit. The location is also described as being close to UC Berkeley and major commuter routes, supporting practical convenience for residents and retail customers.
Offered for sale as an income-oriented asset, the property’s current setup includes both multifamily and retail components within the same two-building footprint.
The buildings are positioned along a high-traffic corridor in North Oakland, with access to public transit. The location is also described as being close to UC Berkeley and major commuter routes, supporting practical convenience for residents and retail customers.
Offered for sale as an income-oriented asset, the property’s current setup includes both multifamily and retail components within the same two-building footprint.
Key Highlights
- Year built 1908
- Two‑building property at 2821 Telegraph Ave in Oakland, CA
- Seven residential apartment units across two buildings
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
$157,012
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
5.06%
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%
$3,140,240
$3.1M
Cap Rate 7%
$2,243,029
$2.2M
Cap Rate 9%
$1,744,578
$1.7M
Market Conditions
NOI Build-Up for 7,436 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
$298.9K $40.20/SF
− Vacancy
−$13.5K −$1.81/SF
EGI
$285.5K $38.39/SF
− OpEx
−$128.5K −$17.28/SF
NOI
$157.0K $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%
$3,140,240
Cap Rate 7%
$2,243,029
Cap Rate 9%
$1,744,578
Alternative Uses
Best Use
Apartment 5plus
$2.24M
$1.96M – $2.62M
NOI $157,012 @ 7.0% cap · market cap 5.06%
Second Best
Retail
$2.06M
$1.80M – $2.40M
NOI $144,178 @ 7.0% cap · market cap 4.65%
Theoretical Best
Multifamily LT 5
$2.43M
$2.13M – $2.84M
NOI $170,416 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,431
Businesses Nearby
Explore this area
Business Placement
Demographics for 94609, CA
23,578
Population
11,915
Households
2
Avg Household Size
36
Median Age
62%
College-Educated
95%
High-School Grad
1.7 sq mi
ZIP Area
13,869
Density / Sq Mi
$106,698
Median Household Income
$69,221
Median Earnings
$2,116
Median Rent
$1,147,900
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 - Two buildings offering seven apartment units and two retail stores along a high-traffic North Oakland corridor.
Where is this apartment building located?
The property is located at 2821 Telegraph Avenue Oakland, CA.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Year built 1908; Two‑building property at 2821 Telegraph Ave in Oakland, CA; Seven residential apartment units across two buildings
