Renovated Four-Unit Apartment
For Sale
$1,250,000
3222 Delaware Street, Oakland, CA 94602
The property combines a varied bedroom mix with garage parking and private outdoor space.
Property Size3,822 SF
Lot Size0.04 Acres
Days on Market13
Property Features for 3222 Delaware Street
General Information
Standard status
Active
Size
3,822 SF
Net Rentable
3,822 SF
Lot size
0.04 Acres
Property subtype
Multifamily
Occupancy
75%
Site & Location
Neighborhood
Dimond
Units
Unit Mix
3 x 3BR/1.5BA, 1 x 1BR/1BA
Multifamily Units
4
Amenities
large units
garage parking
private deck/outdoor area
Building Details
Building Size
3,822 SF
Year Built
1966
Buildings
1
Listing Agency:
Compass
Listed By:
Ismael Benhamida · License #CalDRE #01722847
(408) 373-6195
Source:
Compass-cre
Added: Oct 20
Changed: Oct 30
Last Checked: Oct 30 at 1:00PM
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.
Built in 1966, this four-unit apartment property contains 3,822 square feet on a 1,820-square-foot lot. The unit mix comprises three 3-bedroom, 1.5-bath apartments and one 1-bedroom, 1-bath apartment. Improvements include renovated kitchens and bathrooms, new flooring and paint, stainless steel appliances, dual-pane windows, a replacement roof, a reconstructed balcony, an electrical subpanel upgrade, and exterior painting.
Located in Oakland’s Dimond District, the property is near shopping, restaurants, grocery stores, and transportation. Garage parking and private deck or outdoor space are among its features. The stated cap rate is 5.28%.
Located in Oakland’s Dimond District, the property is near shopping, restaurants, grocery stores, and transportation. Garage parking and private deck or outdoor space are among its features. The stated cap rate is 5.28%.
Key Highlights
- Four apartments: three 3‑bedroom/1.5‑bath units and one 1‑bedroom/1‑bath unit
- 3,822 square feet of rentable area on a 1,820‑square‑foot lot
- Renovated kitchens, bathrooms, flooring, and paint; stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,592
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,751,840
$1.8M
Cap Rate 7%
$1,251,314
$1.3M
Cap Rate 9%
$973,244
$973.2K
Market Conditions
NOI Build-Up for 3,822 SF
Gross rent
$130.7K $34.20/SF
− Vacancy
−$5.6K −$1.46/SF
EGI
$125.1K $32.74/SF
− OpEx
−$37.5K −$9.82/SF
NOI
$87.6K $22.92/SF
Area
Oakland, CA
Vacancy
4.27%
Lease Rate
$34.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,751,840
Cap Rate 7%
$1,251,314
Cap Rate 9%
$973,244
Alternative Uses
Best Use
Multifamily LT 5
$1.25M
$1.09M – $1.46M
NOI $87,592 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.35M
NOI $80,702 @ 7.0% cap · market cap 6.46%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
4
Residential units
75%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,023
Businesses Nearby
Explore this area
Business Placement
Demographics for 94602, CA
29,702
Population
13,072
Households
2.3
Avg Household Size
42
Median Age
58%
College-Educated
89%
High-School Grad
3.6 sq mi
ZIP Area
8,251
Density / Sq Mi
$124,744
Median Household Income
$65,401
Median Earnings
$1,924
Median Rent
$1,111,800
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?
Quadplex - The property combines a varied bedroom mix with garage parking and private outdoor space.
Where is this quadplex located?
The property is located at 3222 Delaware 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: Four apartments: three 3‑bedroom/1.5‑bath units and one 1‑bedroom/1‑bath unit; 3,822 square feet of rentable area on a 1,820‑square‑foot lot; Renovated kitchens, bathrooms, flooring, and paint; stainless steel appliances
