Oakland Triplex Near Pill
2832 Summit St Oakland, CA 94609
2832 Summit St, Oakland, CA, 94609
$1,470,000
For Sale
$1,470,000
Stabilized triplex near Kaiser, BART, and Lake Merritt.
Property Size2,968 SF
Price / SF$495.28
Days on Market66
Property Features for 2832 Summit St
General Information
- Standard status
- Active
- Size
- 2,968 SF
- Property subtype
- Investment
Building Details
- Year Built
- 1945
Listing Agency
Keller Williams Realty Walnut Creek
(510) 592-5554
Listed by
Joey Wang · License #01890931
(510) 592-5554
Source
Elliman
Added: May 15 Checked: Jul 17 at 6:42 am
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 Keller Williams Realty Walnut Creek
Investment Insights
Based on property information with market context.
This stabilized Oakland triplex is located in the Pill Hill neighborhood, within walking distance of Kaiser Permanente, MacArthur BART, and Lake Merritt. The 2,968 square foot building contains 11 bedrooms across three units. One unit is a vacant, fully renovated 4-bedroom, 2-bathroom flagship. The second is a remodeled 4-bedroom, 2.5-bathroom unit, and the third is a 3-bedroom, 1-bathroom unit. There have been over $63,000 in investments since 2021, including sewer lateral compliance, dual-pane windows, two unit remodels, exterior paint, and a roof that is under five years old. The property includes in-unit laundry and four electric meters. There are six parking spaces. The CC-2 zoning allows for ADU or density exploration, subject to verification. The property has a bike score of 100, making it a biker's paradise, a walk score of 89, indicating it is very walkable, and a transit score of 67, indicating good transit.
Key Highlights
- Vacant, fully renovated 4BR/2BA flagship unit ideal for owner‑occupancy or immediate rental income.
- Stabilized NOI of $92,858 and a 6.32% cap rate with rents already at market value.
- Prime location in Pill Hill: walking distance to Kaiser Permanente, MacArthur BART, and Lake Merritt.
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 | $101.5k | $34.20 |
| − Vacancy | −$4.3k | −$1.46 |
| EGI | $97.2k | $32.74 |
| − OpEx | −$29.2k | −$9.82 |
| NOI | $68.0k | $22.92 |
2,968 SF · lease $34.20/SF/yr · vacancy 4.27% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$971.7K
$850.3K – $1.13M
NOI $68,020 @ 7.0% cap · market cap 4.63%
Second Best
Apartment 5plus
$895.3K
$783.4K – $1.04M
NOI $62,669 @ 7.0% cap · market cap 4.26%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Triplex - Stabilized triplex near Kaiser, BART, and Lake Merritt.
Where is this triplex located?
The property is located at 2832 Summit St Oakland, CA.
What is the asking price?
The asking price for this property is $1,470,000.
What are key features of this property?
This property features: Vacant, fully renovated 4BR/2BA flagship unit ideal for owner‑occupancy or immediate rental income.; Stabilized NOI of $92,858 and a 6.32% cap rate with rents already at market value.; Prime location in Pill Hill: walking distance to Kaiser Permanente, MacArthur BART, and Lake Merritt.
