Value-Add Duplex
For Sale
$579,000
2963 62nd Ave, Oakland, CA 94605
Two-unit residential income property with one vacant unit under redevelopment and one owner-occupied unit.
Property Size2,135 SF
Price / SF$271.19
Days on Market121
Property Features for 2963 62nd Ave
General Information
Standard status
Active
Size
2,135 SF
Property subtype
Multi Family
Building Details
Year Built
1950
Listing Agency:
Square Feet Realty Group
(800) 277-1071
Listed By:
Jamar Mears · License #02025324
(510) 706-3574
Source:
Exitrealty
Added: May 6
Changed: Sep 2
Last Checked: Sep 2 at 8:02PM
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 Square Feet Realty Group
Investment Insights
Based on property information with market context.
This duplex contains two residential units with distinctly different conditions. One unit is vacant and stripped to the studs, providing a defined redevelopment scope, while the second unit is occupied by the owner. The property is offered as-is and was built in 1950.
The existing configuration supports continued duplex use, with potential for rental income or multigenerational living after improvements. The contrasting unit conditions may suit an owner-user seeking a residence with a separate unit or a buyer planning to complete renovations before occupancy.
The existing configuration supports continued duplex use, with potential for rental income or multigenerational living after improvements. The contrasting unit conditions may suit an owner-user seeking a residence with a separate unit or a buyer planning to complete renovations before occupancy.
Key Highlights
- Two‑unit duplex configuration
- One vacant unit stripped to the studs
- Second unit is owner‑occupied
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
$43,216
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
7.46%
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%
$864,320
$864.3K
Cap Rate 7%
$617,371
$617.4K
Cap Rate 9%
$480,178
$480.2K
Market Conditions
NOI Build-Up for 2,135 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
$65.3K $30.60/SF
− Vacancy
−$3.6K −$1.68/SF
EGI
$61.7K $28.92/SF
− OpEx
−$18.5K −$8.68/SF
NOI
$43.2K $20.24/SF
Area
ZIP 94605
Vacancy
5.50%
Lease Rate
$30.60 /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%
$864,320
Cap Rate 7%
$617,371
Cap Rate 9%
$480,178
Alternative Uses
Best Use
Multifamily LT 5
$617.4K
$540.2K – $720.3K
NOI $43,216 @ 7.0% cap · market cap 7.46%
Second Best
Apartment 5plus
$553.4K
$484.2K – $645.7K
NOI $38,739 @ 7.0% cap · market cap 6.69%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
913
Businesses Nearby
Explore this area
Business Placement
Demographics for 94605, CA
44,294
Population
17,686
Households
2.5
Avg Household Size
39
Median Age
43%
College-Educated
87%
High-School Grad
8.8 sq mi
ZIP Area
5,033
Density / Sq Mi
$101,043
Median Household Income
$62,590
Median Earnings
$1,867
Median Rent
$840,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential income property with one vacant unit under redevelopment and one owner-occupied unit.
Where is this duplex located?
The property is located at 2963 62nd Ave Oakland, CA.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; One vacant unit stripped to the studs; Second unit is owner‑occupied
