Corner Duplex with Shared
For Sale
$899,999
2924 Morcom Ave, Oakland, CA 94619
Residential Income, Oakland, CA
Property Size2,293 SF
Lot Size0.08 Acres
Price / SF$392.50
Days on Market156
Property Features for 2924 Morcom Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RD
Bedrooms
5
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 4, Bedroom 5, Bathroom 2, Bathroom 6, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 7, Bathroom 3, Bathroom 5, Bedroom 3, Bathroom 8, Bedroom 2
Parking features
On Street
Interior features
Updated Baths, Updated Kitchen, Formal Entry, Shower Stall(s), Tub w/Shower Over
Exterior features
Balcony, Back Yard, Front Yard, Garden/Play, Sprinklers Front, Garden, Manual Sprinkler Front, Manual Sprinkler Rear
Fencing
Fenced
Fireplace
1
Appliances
Dishwasher, Disposal, Dryer, Washer, Gas Water Heater
Subdivision
Maxwell Park
Lot features
Corner Lot, Back Yard, Front Yard, Garden, Landscaped
Elementary school district
Oakland (510) 879-8111
High school district
Oakland (510) 879-8111
Directions
Corner of Morcom Ave and Birdsall Ave...
Standard status
Active
APN
3624962
Size
2,293 SF
Lot size
0.08 Acres
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
shared backyard with garden area
dedicated laundry area
Building Details
Year built
1920
Number of units
2
Flooring type
Engineered, Hardwood
Building materials
Composition Shingles, Stucco
Roof type
Composition
Listing Agency:
Compass
(925) 251-1111
Listed By:
Jennifer Galvez · License #02292101
(415) 936-9431
Added: Apr 10
Changed: Sep 12
Last Checked: Sep 12 at 6:06PM
MLS# 41130554
Copyright © 2026 Bay East. 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 corner duplex contains two side-by-side residences with distinct layouts. One unit includes 3 bedrooms, 2 bathrooms, a primary suite with an updated en-suite bath, and in-unit laundry. The second offers 2 bedrooms, 1.5 updated bathrooms, and a dedicated basement laundry area. Interior features include an updated kitchen, formal entry, engineered and hardwood flooring, forced-air heat, central air, and a fireplace.
The property sits on a 3,364-square-foot lot and includes a shared backyard with garden space, fenced front and rear areas, and a detached one-car garage with epoxy-coated flooring. The exterior was recently painted, and the composition-shingle roof is approximately 3 years old. Separate gas and electric meters allow occupants to pay their own utilities. Public water and public sewer serve the property, which was built in 1920 and is zoned RD.
The address is near parks, schools, shopping, dining, and major commuter routes in Oakland's Maxwell Park neighborhood.
The property sits on a 3,364-square-foot lot and includes a shared backyard with garden space, fenced front and rear areas, and a detached one-car garage with epoxy-coated flooring. The exterior was recently painted, and the composition-shingle roof is approximately 3 years old. Separate gas and electric meters allow occupants to pay their own utilities. Public water and public sewer serve the property, which was built in 1920 and is zoned RD.
The address is near parks, schools, shopping, dining, and major commuter routes in Oakland's Maxwell Park neighborhood.
Key Highlights
- Two side‑by‑side units: one with 3 bedrooms and 2 bathrooms; the other with 2 bedrooms and 1.5 bathrooms
- 3,364‑square‑foot lot with shared backyard, garden area, and fenced outdoor spaces
- Separate gas and electric meters for the two residences
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
$52,550
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
5.84%
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%
$1,051,000
$1.1M
Cap Rate 7%
$750,714
$750.7K
Cap Rate 9%
$583,889
$583.9K
Market Conditions
NOI Build-Up for 2,293 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
$78.4K $34.20/SF
− Vacancy
−$3.3K −$1.46/SF
EGI
$75.1K $32.74/SF
− OpEx
−$22.5K −$9.82/SF
NOI
$52.6K $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%
$1,051,000
Cap Rate 7%
$750,714
Cap Rate 9%
$583,889
Alternative Uses
Best Use
Multifamily LT 5
$750.7K
$656.9K – $875.8K
NOI $52,550 @ 7.0% cap · market cap 5.84%
Second Best
Apartment 5plus
$691.7K
$605.2K – $807.0K
NOI $48,417 @ 7.0% cap · market cap 5.38%
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
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
798
Businesses Nearby
Explore this area
Business Placement
Demographics for 94619, CA
24,867
Population
10,348
Households
2.4
Avg Household Size
41
Median Age
57%
College-Educated
89%
High-School Grad
8.3 sq mi
ZIP Area
2,996
Density / Sq Mi
$129,879
Median Household Income
$65,351
Median Earnings
$2,131
Median Rent
$997,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two side-by-side residences feature updated baths, separate utility metering, laundry areas, and a detached garage.
Where is this duplex located?
The property is located at 2924 Morcom Ave Oakland, CA.
What is the asking price?
The asking price for this property is $899,999.
What are key features of this property?
This property features: Two side‑by‑side units: one with 3 bedrooms and 2 bathrooms; the other with 2 bedrooms and 1.5 bathrooms; 3,364‑square‑foot lot with shared backyard, garden area, and fenced outdoor spaces; Separate gas and electric meters for the two residences
