Six-Unit Apartment
New
For Sale
$1,250,000
3050 Davis Street, Oakland, CA 94601
Wood-frame multifamily property with a balanced unit mix, in-unit kitchens, and separately metered gas and electricity.
Property Size2,817 SF
Lot Size0.60 Acres
Price / SF$443.73
Days on Market6
Property Features for 3050 Davis Street
General Information
Standard status
Active
Size
2,817 SF
Lot size
0.60 Acres
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 1BR/1BA, 3 x 2BR/1BA
Multifamily Units
6
Building Details
Year Built
1965
Buildings
1
Construction
wood frame
Listing Agency:
Compass
(408) 595-7836
Listed By:
Meidan Mike Magen · License #01911743
(408) 595-7836
Source:
Exitrealty
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 10 at 2:24AM
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 Compass
Investment Insights
Based on property information with market context.
Built in 1965, this six-unit apartment building has a wood-frame structure with a stucco exterior and a level 0.60-acre site. The unit mix includes three one-bedroom, one-bath residences and three two-bedroom, one-bath residences. Each apartment includes a kitchen with a frost-free refrigerator, stove, wood cabinetry, and tile flooring, along with a gas wall furnace.
Gas and electricity are separately metered for each unit. The property is located in Oakland’s Diamond District with access to I-580 and I-980, connecting the site with San Francisco, Silicon Valley, Walnut Creek, and other Bay Area destinations.
Gas and electricity are separately metered for each unit. The property is located in Oakland’s Diamond District with access to I-580 and I-980, connecting the site with San Francisco, Silicon Valley, Walnut Creek, and other Bay Area destinations.
Key Highlights
- Six‑unit multifamily property built in 1965
- Unit mix includes three 1‑bedroom and three 2‑bedroom apartments
- Approximately 3,560 sq. ft. of living space on a 0.60‑acre level lot
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
$59,979
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
4.80%
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%
$1,199,580
$1.2M
Cap Rate 7%
$856,843
$856.8K
Cap Rate 9%
$666,433
$666.4K
Market Conditions
NOI Build-Up for 2,817 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
$113.2K $40.20/SF
− Vacancy
−$4.2K −$1.49/SF
EGI
$109.1K $38.71/SF
− OpEx
−$49.1K −$17.42/SF
NOI
$60.0K $21.29/SF
Area
ZIP 94601
Vacancy
3.70%
Lease Rate
$40.20 /SF/Yr
Expense Ratio
45.00%
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%
$1,199,580
Cap Rate 7%
$856,843
Cap Rate 9%
$666,433
Alternative Uses
Best Use
Apartment 5plus
$856.8K
$749.7K – $999.7K
NOI $59,979 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,377 @ 7.0% cap · market cap 6.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
771
Businesses Nearby
Explore this area
Business Placement
Demographics for 94601, CA
54,166
Population
17,454
Households
3.1
Avg Household Size
35
Median Age
24%
College-Educated
70%
High-School Grad
3.2 sq mi
ZIP Area
16,927
Density / Sq Mi
$66,651
Median Household Income
$37,765
Median Earnings
$1,651
Median Rent
$703,100
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?
Apartment building - Wood-frame multifamily property with a balanced unit mix, in-unit kitchens, and separately metered gas and electricity.
Where is this apartment building located?
The property is located at 3050 Davis Street Oakland, CA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Six‑unit multifamily property built in 1965; Unit mix includes three 1‑bedroom and three 2‑bedroom apartments; Approximately 3,560 sq. ft. of living space on a 0.60‑acre level lot
