Eight-Unit Multifamily with Soft-Story
For Sale
$1,625,000
31 Croxton Avenue, Oakland, CA 94611
Eight large 1-bedroom units with separate gas and electric meters in a Piedmont Avenue-area building.
Property Size4,640 SF
Price / SF$350.22
Days on Market226
Property Features for 31 Croxton Avenue
General Information
Standard status
Active
Size
4,640 SF
Property subtype
5+ Units / Five or More Units
Occupancy
100%
Net Operating Income
$104,653
Financials
Cap Rate
6.65%
Business Included
Yes
Site & Location
Neighborhood
Harrison Street
Additional Details
Multifamily Units
8
Amenities
None, Gas
Building Details
Year Built
1957
Tenancy
Multi
Listing Agency:
Compass
Listed By:
Willem Bos · License #02013980
(916) 698-9954
Source:
Compass
Added: Mar 16
Changed: Oct 25
Last Checked: Oct 26 at 7:06PM
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
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Investment Insights
Based on property information with market context.
31 Croxton Ave is an eight-unit multifamily property featuring eight large 1-bedroom, 1-bath apartments. The building is soft-story compliant and has completed SB 721 balcony requirements. Gas and electricity are separately metered, providing distinct utility allocation by unit.
The property is located in Oakland’s Piedmont Avenue neighborhood within walking distance to Piedmont Ave shops and dining, with BART nearby and Adams Point adjacent. The current operating profile is supported by rental income of over $13,000 per month, with the seller reporting a 6.65% cap rate and a 9.6 GRM at the asking price of $1,625,000.
This asset is well suited for investors seeking a turnkey multifamily with immediate income generation. Each unit is a 1-bedroom, 1-bath configuration, and the seller notes there may be opportunities through unit renovations and future rent adjustments; buyers are asked to verify potential to reconfigure units or add bedrooms. The combination of compliance work completed, separate utility metering, and an eight-unit layout supports straightforward management for a broad range of multifamily buyers.
The property is located in Oakland’s Piedmont Avenue neighborhood within walking distance to Piedmont Ave shops and dining, with BART nearby and Adams Point adjacent. The current operating profile is supported by rental income of over $13,000 per month, with the seller reporting a 6.65% cap rate and a 9.6 GRM at the asking price of $1,625,000.
This asset is well suited for investors seeking a turnkey multifamily with immediate income generation. Each unit is a 1-bedroom, 1-bath configuration, and the seller notes there may be opportunities through unit renovations and future rent adjustments; buyers are asked to verify potential to reconfigure units or add bedrooms. The combination of compliance work completed, separate utility metering, and an eight-unit layout supports straightforward management for a broad range of multifamily buyers.
Key Highlights
- 8‑unit multifamily built in 1957 with eight large 1‑bedroom, 1‑bath units
- Currently generates over $13,000/month in rental income
- Asking price $1,625,000 supports a 6.65% cap rate and 9.6 GRM
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,212
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,584,240
$1.6M
Cap Rate 7%
$1,131,600
$1.1M
Cap Rate 9%
$880,133
$880.1K
Market Conditions
NOI Build-Up for 4,640 SF
Gross rent
$150.3K $32.40/SF
− Vacancy
−$6.3K −$1.36/SF
EGI
$144.0K $31.04/SF
− OpEx
−$64.8K −$13.97/SF
NOI
$79.2K $17.07/SF
Area
ZIP 94611
Vacancy
4.20%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,584,240
Cap Rate 7%
$1,131,600
Cap Rate 9%
$880,133
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$990.2K – $1.32M
NOI $79,212 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.95M
$1.71M – $2.28M
NOI $136,824 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
8
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
6,521
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
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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?
Apartment building - Eight large 1-bedroom units with separate gas and electric meters in a Piedmont Avenue-area building.
Where is this apartment building located?
The property is located at 31 Croxton Avenue Oakland, CA.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: 8‑unit multifamily built in 1957 with eight large 1‑bedroom, 1‑bath units; Currently generates over $13,000/month in rental income; Asking price $1,625,000 supports a 6.65% cap rate and 9.6 GRM
