Value-Add Duplex
For Sale
$674,000
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$315.69
Days on Market166
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 11
Last Checked: Sep 15 at 6:14AM
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
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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 / Yr
$43,216
Cap Rate
6.41%
Suggested Prices Based on Cap Rates
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
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 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 6.41%
Second Best
Apartment 5plus
$553.4K
$484.2K – $645.7K
NOI $38,739 @ 7.0% cap · market cap 5.75%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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 $674,000.
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
