Tenant-Occupied
For Sale
$575,700
3227 Chestnut St, Oakland, CA 94608
Two-unit residential property with a backyard, garden, upper-level deck, and established tenancy.
Property Size2,092 SF
Price / SF$275.19
Days on Market47
Property Features for 3227 Chestnut St
General Information
Standard status
Active
Size
2,092 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
in need of some cosmetic repairs
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR, 1 x 2BR
Multifamily Units
2
Amenities
back yard
garden
deck
Building Details
Construction
Victorian
Listing Agency:
eXp Realty of California Inc
(916) 995-5223
Listed By:
Audrey C. Cheek
(916) 995-5223
Source:
Exprealty
Added: Jul 15
Changed: Aug 29
Last Checked: Aug 29 at 3:51PM
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 eXp Realty of California Inc
Investment Insights
Based on property information with market context.
This tenant-occupied duplex contains 2,092 square feet across two residential units. The lower residence offers three bedrooms, with one bedroom currently arranged as a second living room, along with direct access to the backyard and garden. The upper unit includes a living room, kitchen, two bedrooms, and a deck overlooking the backyard. The Victorian property requires cosmetic repairs, and a pest inspection is available for review.
Located at 3227 Chestnut St in Oakland, the property is near public transportation and the I-580 freeway. Its setting adjacent to Emeryville places the duplex within an established residential area while retaining access to regional connections.
Located at 3227 Chestnut St in Oakland, the property is near public transportation and the I-580 freeway. Its setting adjacent to Emeryville places the duplex within an established residential area while retaining access to regional connections.
Key Highlights
- 2,092‑square‑foot Victorian duplex with two residential units
- Lower unit includes 3 bedrooms and access to the backyard and garden
- Upper unit offers 2 bedrooms, a kitchen, living room, and backyard‑facing deck
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
$47,944
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
8.33%
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%
$958,880
$958.9K
Cap Rate 7%
$684,914
$684.9K
Cap Rate 9%
$532,711
$532.7K
Market Conditions
NOI Build-Up for 2,092 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
$71.5K $34.20/SF
− Vacancy
−$3.1K −$1.46/SF
EGI
$68.5K $32.74/SF
− OpEx
−$20.5K −$9.82/SF
NOI
$47.9K $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%
$958,880
Cap Rate 7%
$684,914
Cap Rate 9%
$532,711
Alternative Uses
Best Use
Multifamily LT 5
$684.9K
$599.3K – $799.1K
NOI $47,944 @ 7.0% cap · market cap 8.33%
Second Best
Apartment 5plus
$631.0K
$552.2K – $736.2K
NOI $44,173 @ 7.0% cap · market cap 7.67%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,844
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with a backyard, garden, upper-level deck, and established tenancy.
Where is this duplex located?
The property is located at 3227 Chestnut St Oakland, CA.
What is the asking price?
The asking price for this property is $575,700.
What are key features of this property?
This property features: 2,092‑square‑foot Victorian duplex with two residential units; Lower unit includes 3 bedrooms and access to the backyard and garden; Upper unit offers 2 bedrooms, a kitchen, living room, and backyard‑facing deck
