Remodeled Victorian
For Sale
$695,000
3225 Market St, Oakland, CA 94608
Turnkey-ready duplex with remodeled units, updated kitchens, resurfaced hardwood floors, new roof, and a gated driveway.
Property Size2,295 SF
Price / SF$302.83
Days on Market24
Property Features for 3225 Market St
General Information
Standard status
Active
Size
2,295 SF
Property subtype
Residential Income
Listing Agency:
Compass
(408) 210-9665
Listed By:
Sam H. Arash Far
(408) 210-9665
Source:
Exprealty
Added: Jul 18
Changed: Jul 31
Last Checked: Aug 10 at 7:20AM
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.
Remodeled Victorian duplex offering two rental-ready units with updated kitchens, resurfaced original hardwood floors, and fresh interior and exterior paint. Both units have been remodeled, with a brand-new roof and key sewer improvements. A brand-new sewer line was installed with city permits, and a sewer lateral certificate is provided for 20 years.
The upper unit is configured as 3BD/1BA, and the lower unit features 2BD/1BA. The property includes a gated driveway, a large backyard, and ample parking.
Additional details include the property address as 3225 and 3221 Market St, Oakland, CA, with a total property size of 2,295 SF.
The upper unit is configured as 3BD/1BA, and the lower unit features 2BD/1BA. The property includes a gated driveway, a large backyard, and ample parking.
Additional details include the property address as 3225 and 3221 Market St, Oakland, CA, with a total property size of 2,295 SF.
Key Highlights
- Both units remodeled with updated kitchens
- Brand‑new roof plus fresh interior and exterior paint
- Resurfaced original hardwood floors throughout
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
$52,596
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
7.57%
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%
$1,051,920
$1.1M
Cap Rate 7%
$751,371
$751.4K
Cap Rate 9%
$584,400
$584.4K
Market Conditions
NOI Build-Up for 2,295 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
$78.5K $34.20/SF
− Vacancy
−$3.4K −$1.46/SF
EGI
$75.1K $32.74/SF
− OpEx
−$22.5K −$9.82/SF
NOI
$52.6K $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 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%
$1,051,920
Cap Rate 7%
$751,371
Cap Rate 9%
$584,400
Alternative Uses
Best Use
Multifamily LT 5
$751.4K
$657.5K – $876.6K
NOI $52,596 @ 7.0% cap · market cap 7.57%
Second Best
Apartment 5plus
$692.3K
$605.7K – $807.7K
NOI $48,459 @ 7.0% cap · market cap 6.97%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,333
Businesses Nearby
Explore this area
Business Placement
Demographics for 94608, CA
33,073
Population
17,956
Households
1.8
Avg Household Size
36
Median Age
64%
College-Educated
94%
High-School Grad
2.8 sq mi
ZIP Area
11,812
Density / Sq Mi
$116,306
Median Household Income
$73,845
Median Earnings
$2,561
Median Rent
$826,900
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?
Duplex - Turnkey-ready duplex with remodeled units, updated kitchens, resurfaced hardwood floors, new roof, and a gated driveway.
Where is this duplex located?
The property is located at 3225 Market St Oakland, CA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Both units remodeled with updated kitchens; Brand‑new roof plus fresh interior and exterior paint; Resurfaced original hardwood floors throughout
