Oakland Multifamily Property for
303 Lee St Oakland, CA 94610
For Sale
$6,995,000
Three-story multifamily property with renovated units and on-site laundry.
Property Size18,720 SF
Price / SF$373.66
Days on Market97
Property Features for 303 Lee St
General Information
Standard status
Active
Size
18,720 SF
Property subtype
Investment
Building Details
Year Built
1964
Listing Agency:
Infinity Investments
(408) 509-0700
Listed By:
Steven Peterson · License #01746140
(408) 509-0700
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 28 at 8:29AM
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 Infinity Investments
Investment Insights
Based on property information with market context.
Located at 303 Lee Street in Oakland, California, this three-story property offers 18,720 rentable square feet. Constructed in 1964, the building features a concrete perimeter foundation, wood exterior walls, and a composition shingle roof. The unit mix comprises 7 two-bedroom, one-bathroom units and 18 one-bedroom, one-bathroom units, each equipped with private baths and kitchens. The property includes on-site laundry facilities and 23 parking spaces. Eighty percent of the units have been renovated. Each unit is separately metered for gas, electricity, and hot water, reducing owner expenses. The property is in good condition with no deferred maintenance. Upper-level units offer pleasant views from the entry and living room. The coin-operated laundry provides additional income. The location is considered a Biker's Paradise with a bike score of 100, very walkable with a walk score of 89, and has good transit with a transit score of 67.
Key Highlights
- High Rentable Square Footage: 18,720 sq ft provides substantial income potential.
- Mix of 25 Units: Includes 7 two‑bedroom and 18 one‑bedroom units, appealing to a diverse tenant base.
- Separate Gas and Electric Meters: Minimizes owner's expenses and simplifies utility management.
Financial Insights For Apartment 5plus
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 | $752.5k | $40.20 |
| − Vacancy | −$33.9k | −$1.81 |
| EGI | $718.7k | $38.39 |
| − OpEx | −$323.4k | −$17.28 |
| NOI | $395.3k | $21.12 |
18,720 SF · lease $40.20/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$5.65M
$4.94M – $6.59M
NOI $395,274 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$6.13M
$5.36M – $7.15M
NOI $429,021 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Three-story multifamily property with renovated units and on-site laundry.
Where is this apartment building located?
The property is located at 303 Lee St Oakland, CA.
What is the asking price?
The asking price for this property is $6,995,000.
What are key features of this property?
This property features: High Rentable Square Footage: 18,720 sq ft provides substantial income potential.; Mix of 25 Units: Includes 7 two‑bedroom and 18 one‑bedroom units, appealing to a diverse tenant base.; Separate Gas and Electric Meters: Minimizes owner's expenses and simplifies utility management.
