5-Unit Apartment Building with
For Sale
$1,295,000
3206 Park Boulevard, Oakland, CA 94610
Five-unit multifamily property with remodeled furnished residences, shared laundry, garages, and off-street parking.
Property Size4,022 SF
Days on Market144
Property Features for 3206 Park Boulevard
General Information
Standard status
Active
Size
4,022 SF
Total Parking Spaces
8
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
5
Amenities
coin-operated laundry
Building Details
Building Size
4,022 SF
Listing Agency:
Compass
(415) 345-3000
Listed By:
Gabriel Galiothe · License #01941289
Source:
Swanngroupsf
Added: Apr 10
Changed: Aug 29
Last Checked: Aug 30 at 10:31PM
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.
This five-unit apartment property includes three occupied residences and two remodeled, furnished units that are currently vacant. The updated units offer modern finishes and can support conventional occupancy or continued short-term rental use. Shared coin-operated laundry adds an on-site income-producing feature, while the property’s maintained condition and completed improvements provide a functional operating platform.
The property includes four private garages and four additional off-street parking spaces. Its Oakland location offers proximity to shopping, dining, public transportation, and cultural amenities. The existing mix of occupied, furnished, and remodeled units supports multiple residential operating approaches within a single multifamily asset.
The property includes four private garages and four additional off-street parking spaces. Its Oakland location offers proximity to shopping, dining, public transportation, and cultural amenities. The existing mix of occupied, furnished, and remodeled units supports multiple residential operating approaches within a single multifamily asset.
Key Highlights
- Five‑unit apartment property with three occupied residences
- Two remodeled, furnished units are vacant and ready for occupancy or short‑term rental use
- Four private garages plus four additional off‑street parking spaces
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
$84,925
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
6.56%
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%
$1,698,500
$1.7M
Cap Rate 7%
$1,213,214
$1.2M
Cap Rate 9%
$943,611
$943.6K
Market Conditions
NOI Build-Up for 4,022 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
$161.7K $40.20/SF
− Vacancy
−$7.3K −$1.81/SF
EGI
$154.4K $38.39/SF
− OpEx
−$69.5K −$17.28/SF
NOI
$84.9K $21.12/SF
Area
Oakland, CA
Vacancy
4.50%
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%
$1,698,500
Cap Rate 7%
$1,213,214
Cap Rate 9%
$943,611
Alternative Uses
Best Use
Apartment 5plus
$1.21M
$1.06M – $1.42M
NOI $84,925 @ 7.0% cap · market cap 6.56%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.32M
$1.15M – $1.54M
NOI $92,175 @ 7.0% cap · market cap 7.12%
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
1,251
Businesses Nearby
Explore this area
Business Placement
Demographics for 94610, CA
31,261
Population
17,926
Households
1.7
Avg Household Size
39
Median Age
73%
College-Educated
96%
High-School Grad
2.1 sq mi
ZIP Area
14,886
Density / Sq Mi
$130,435
Median Household Income
$90,577
Median Earnings
$2,184
Median Rent
$1,324,500
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 - Five-unit multifamily property with remodeled furnished residences, shared laundry, garages, and off-street parking.
Where is this apartment building located?
The property is located at 3206 Park Boulevard Oakland, CA.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Five‑unit apartment property with three occupied residences; Two remodeled, furnished units are vacant and ready for occupancy or short‑term rental use; Four private garages plus four additional off‑street parking spaces
