Multifamily Property with Detached
For Sale
Contact for pricing
320 Athol Ave, Oakland, CA 94606
Two structures offer a five-unit configuration with three vacant units and detached garages in Oakland’s Cleveland Heights neighborhood.
Property Size3,745 SF
Lot Size0.11 Acres
Price / SF$292.39
Days on Market148
Property Features for 320 Athol Ave
General Information
Standard status
Active
Size
3,745 SF
Class
C
Lot size
0.11 Acres
Property subtype
Multifamily
Zoning
RM-2/S-13
Occupancy
40%
Investment Type
Value Add
Net Operating Income
$49,072
Units
Unit Mix
4 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
5
Additional Details
Public Transit
Yes
Building Details
Year Built
1915
Buildings
2
Stories
2
Units
5
Listing Agency:
Compass Commercial Real Estate
Listed By:
Tony Zizzo · License #CA#01962093
(415) 345-3000
Source:
Crexi
Added: Apr 9
Changed: Aug 30
Last Checked: Aug 30 at 5:50PM
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 Commercial Real Estate
Investment Insights
Based on property information with market context.
This multifamily property comprises two separate structures totaling approximately 3,745 square feet on a 0.11-acre lot. The unit mix includes four one-bedroom, one-bath units and one two-bedroom, one-bath single-family-style residence. Three units are vacant, creating immediate leasing and renovation flexibility. Detached garages at the front of the parcel provide supplemental income and additional property functionality. The property was built in 1915 and is zoned RM-2/S-13.
The Cleveland Heights setting places the property approximately 0.6 miles from Lake Merritt and about 2.2 miles from Jack London Square. The surrounding area offers access to waterfront recreation, dining, retail, entertainment, employment centers, and transit. The offering also references adjacent properties at 326–328 Athol Avenue and 330 Athol Avenue as part of a potential contiguous assemblage.
The Cleveland Heights setting places the property approximately 0.6 miles from Lake Merritt and about 2.2 miles from Jack London Square. The surrounding area offers access to waterfront recreation, dining, retail, entertainment, employment centers, and transit. The offering also references adjacent properties at 326–328 Athol Avenue and 330 Athol Avenue as part of a potential contiguous assemblage.
Key Highlights
- Two separate structures totaling approximately 3,745 square feet on a 0.11‑acre lot
- Five‑unit mix: four 1 bed, 1 bath units and one 2 bed, 1 bath residence
- Three units currently vacant for renovation and leasing flexibility
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
$73,576
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
6.72%
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%
$1,471,520
$1.5M
Cap Rate 7%
$1,051,086
$1.1M
Cap Rate 9%
$817,511
$817.5K
Market Conditions
NOI Build-Up for 3,745 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
$141.6K $37.80/SF
− Vacancy
−$7.8K −$2.08/SF
EGI
$133.8K $35.72/SF
− OpEx
−$60.2K −$16.07/SF
NOI
$73.6K $19.65/SF
Area
ZIP 94606
Vacancy
5.50%
Lease Rate
$37.80 /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%
$1,471,520
Cap Rate 7%
$1,051,086
Cap Rate 9%
$817,511
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$919.7K – $1.23M
NOI $73,576 @ 7.0% cap · market cap 6.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.49M – $1.99M
NOI $119,418 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,687
Businesses Nearby
Explore this area
Business Placement
Demographics for 94606, CA
40,768
Population
17,457
Households
2.3
Avg Household Size
37
Median Age
40%
College-Educated
80%
High-School Grad
2.3 sq mi
ZIP Area
17,725
Density / Sq Mi
$70,769
Median Household Income
$47,558
Median Earnings
$1,775
Median Rent
$747,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Two structures offer a five-unit configuration with three vacant units and detached garages in Oakland’s Cleveland Heights neighborhood.
Where is this apartment building located?
The property is located at 320 Athol Ave Oakland, CA.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Two separate structures totaling approximately 3,745 square feet on a 0.11‑acre lot; Five‑unit mix: four 1 bed, 1 bath units and one 2 bed, 1 bath residence; Three units currently vacant for renovation and leasing flexibility
