Oakland Multifamily Property in
For Sale
$1,350,000
3257 Delaware St, Oakland, CA 94602
Five-unit multifamily property in Oakland's Dimond District.
Property Size4,068 SF
Price / SF$331.86
Days on Market174
Property Features for 3257 Delaware St
General Information
Standard status
Active
Size
4,068 SF
Property subtype
Commercial
Amenities
Level
Off-Site Parking
Building Details
Year Built
1955
Listing Agency:
COMPASS
(415) 660-9955
Listed By:
WILLEM BOS · License #02013980
Source:
Corcoran
Added: Feb 17
Changed: Aug 8
Last Checked: Aug 8 at 6:12AM
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.
Located in Oakland’s Dimond District, this five-unit multifamily property is positioned just above Interstate 580. The property features a unit mix consisting of two oversized two-bedroom units with dedicated dining areas, two spacious one-bedroom one-bath units, and one three-bedroom two-bath unit currently rented at $3,200 per month. The larger unit sizes are aligned with tenant demand in the Dimond District. The Dimond District is known for its residential charm, proximity to Dimond Park, local retail along MacArthur Boulevard, easy freeway access, and a tenant base drawn to the area’s neighborhood feel combined with urban convenience. These fundamentals support both consistent occupancy and long-term rent growth. The property size is 4,068 square feet.
Key Highlights
- Strong Day‑One Cash Flow: Enjoy a compelling 6.15% CAP rate and 10.26 GRM.
- Highly Desirable Location: Situated in Oakland's Dimond District, known for its residential charm and urban convenience.
- Attractive Unit Mix: Features a desirable mix of two‑bedroom, one‑bedroom, and a three‑bedroom unit.
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
$85,896
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
6.36%
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%
$1,717,920
$1.7M
Cap Rate 7%
$1,227,086
$1.2M
Cap Rate 9%
$954,400
$954.4K
Market Conditions
NOI Build-Up for 4,068 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
$163.5K $40.20/SF
− Vacancy
−$7.4K −$1.81/SF
EGI
$156.2K $38.39/SF
− OpEx
−$70.3K −$17.28/SF
NOI
$85.9K $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%
$1,717,920
Cap Rate 7%
$1,227,086
Cap Rate 9%
$954,400
Alternative Uses
Best Use
Apartment 5plus
$1.23M
$1.07M – $1.43M
NOI $85,896 @ 7.0% cap · market cap 6.36%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.33M
$1.17M – $1.55M
NOI $93,229 @ 7.0% cap · market cap 6.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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 in Oakland's Dimond District.
Where is this apartment building located?
The property is located at 3257 Delaware St Oakland, CA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Strong Day‑One Cash Flow: Enjoy a compelling 6.15% CAP rate and 10.26 GRM.; Highly Desirable Location: Situated in Oakland's Dimond District, known for its residential charm and urban convenience.; Attractive Unit Mix: Features a desirable mix of two‑bedroom, one‑bedroom, and a three‑bedroom unit.
