Four-Unit Apartment
For Sale
$999,000
304 Fairmount Ave, Oakland, CA 94611
Four one-bedroom, one-bath residences positioned near BART, Lake Merritt, restaurants, grocery stores, and daily essentials.
Property Size3,836 SF
Price / SF$260.43
Days on Market102
Property Features for 304 Fairmount Ave
General Information
Standard status
Active
Size
3,836 SF
Property subtype
Multi Family
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Building Details
Year Built
1928
Buildings
1
Listing Agency:
Fiduciary Real Estate Services
(888) 511-3737
Listed By:
Ruben Martinez · License #01027549
(888) 511-3737
Source:
Exitrealty
Added: May 23
Changed: Aug 31
Last Checked: Aug 31 at 2:10PM
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 Fiduciary Real Estate Services
Investment Insights
Based on property information with market context.
Built in 1928, this four-unit apartment property contains four one-bedroom, one-bath residences within 3,836 square feet. The building’s vintage character and residential scale define the asset, with a layout suited to multifamily ownership or an owner-user arrangement as described in the property information.
The property is located at 304 Fairmount Ave in Oakland, near BART and Lake Merritt. Restaurants, grocery stores, and other daily necessities are also nearby, providing access to established neighborhood amenities and transit connections.
The property is located at 304 Fairmount Ave in Oakland, near BART and Lake Merritt. Restaurants, grocery stores, and other daily necessities are also nearby, providing access to established neighborhood amenities and transit connections.
Key Highlights
- Four one‑bedroom, one‑bath apartment units
- 3,836 square feet of total property size
- Built in 1928
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
$70,777
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
7.08%
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%
$1,415,540
$1.4M
Cap Rate 7%
$1,011,100
$1.0M
Cap Rate 9%
$786,411
$786.4K
Market Conditions
NOI Build-Up for 3,836 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
$105.9K $27.60/SF
− Vacancy
−$4.8K −$1.24/SF
EGI
$101.1K $26.36/SF
− OpEx
−$30.3K −$7.91/SF
NOI
$70.8K $18.45/SF
Area
ZIP 94611
Vacancy
4.50%
Lease Rate
$27.60 /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%
$1,415,540
Cap Rate 7%
$1,011,100
Cap Rate 9%
$786,411
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$884.7K – $1.18M
NOI $70,777 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$935.5K
$818.6K – $1.09M
NOI $65,487 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$1.62M
$1.41M – $1.89M
NOI $113,116 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
6,954
Businesses Nearby
Explore this area
Business Placement
Demographics for 94611, CA
40,262
Population
19,014
Households
2.1
Avg Household Size
44
Median Age
78%
College-Educated
97%
High-School Grad
7.3 sq mi
ZIP Area
5,515
Density / Sq Mi
$176,517
Median Household Income
$105,393
Median Earnings
$2,274
Median Rent
$1,485,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom, one-bath residences positioned near BART, Lake Merritt, restaurants, grocery stores, and daily essentials.
Where is this quadplex located?
The property is located at 304 Fairmount Ave Oakland, CA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Four one‑bedroom, one‑bath apartment units; 3,836 square feet of total property size; Built in 1928
