3-Unit Triplex with
For Sale
$1,395,000
2832 Summit St, Oakland, CA 94609
Residential Income, Oakland, CA
Property Size3,656 SF
Lot Size0.09 Acres
Price / SF$381.56
Days on Market139
Property Features for 2832 Summit St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
CC2
Bedrooms
11
Rooms
Bedroom 2, Bedroom 10, Bedroom 7, Bedroom 9, Bedroom 3, Bedroom 8, Bedroom 6, Bedroom 1, Bedroom 5, Bedroom 11, Bedroom 4
Parking features
Covered, Parking Lot
Exterior features
Yard Space
Fencing
Fenced, Partial
Appliances
Dryer, Washer, Gas Water Heater
Subdivision
PILL HILL
Lot features
Level, Paved
Standard status
Active
APN
968717
Size
3,656 SF
Lot size
0.09 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Water source
Public
Building Details
Year built
1945
Flooring type
Tile, Vinyl
Building materials
Stucco
Listing Agency:
Keller Williams Realty
(925) 934-2900
Listed By:
Joey Wang · License #01890931
(510) 592-5554
Added: May 12
Changed: Sep 24
Last Checked: Sep 27 at 5:06AM
MLS# 41134372
Copyright © 2026 bridgeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,656-square-foot triplex contains three leased apartments on a 0.091-acre parcel. The unit mix includes two four-bedroom apartments and one three-bedroom apartment. One four-bedroom unit has two bathrooms, shaker cabinetry, a farmhouse sink, a gas range, and in-unit laundry; the other includes two and a half bathrooms, in-unit laundry, and a private deck. The lower-level apartment has one bathroom. Six tandem off-street parking spaces are provided, and the windows were replaced in 2023. The building dates to 1945 and is zoned CC2.
At 2832 Summit St in Oakland, the property is positioned between Broadway and Telegraph. A hospital campus is two blocks away, bus service is 0.1 mile away, and 19th Street BART is 0.7 mile away. The three apartments are leased at rents described as in line with market. The reported capitalization rate is 6.64%.
At 2832 Summit St in Oakland, the property is positioned between Broadway and Telegraph. A hospital campus is two blocks away, bus service is 0.1 mile away, and 19th Street BART is 0.7 mile away. The three apartments are leased at rents described as in line with market. The reported capitalization rate is 6.64%.
Key Highlights
- Three‑unit Oakland property with 3,656 square feet of building area
- Two four‑bedroom apartments and one three‑bedroom apartment
- Six tandem off‑street parking spaces
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
$83,787
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
6.01%
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%
$1,675,740
$1.7M
Cap Rate 7%
$1,196,957
$1.2M
Cap Rate 9%
$930,967
$931.0K
Market Conditions
NOI Build-Up for 3,656 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
$125.0K $34.20/SF
− Vacancy
−$5.3K −$1.46/SF
EGI
$119.7K $32.74/SF
− OpEx
−$35.9K −$9.82/SF
NOI
$83.8K $22.92/SF
Area
Oakland, CA
Vacancy
4.27%
Lease Rate
$34.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,675,740
Cap Rate 7%
$1,196,957
Cap Rate 9%
$930,967
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $83,787 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$1.10M
$965.0K – $1.29M
NOI $77,197 @ 7.0% cap · market cap 5.53%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
6,851
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - All three apartments are leased, and tandem off-street parking serves the property.
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 $1,395,000.
What are key features of this property?
This property features: Three‑unit Oakland property with 3,656 square feet of building area; Two four‑bedroom apartments and one three‑bedroom apartment; Six tandem off‑street parking spaces
