Triplex with Rear
For Sale
$695,000
328 Warwick Ave, Oakland, CA 94610
1908 property with four parking spaces, an automatic gate, and convenient access to Grand Avenue and Lake Merritt.
Property Size2,396 SF
Days on Market9
Property Features for 328 Warwick Ave
General Information
Standard status
Active
Size
2,396 SF
Total Parking Spaces
4
Property subtype
Triplex
Financials
Asking Price
$695,000
Cap Rate
6.6%
Additional Details
Public Transit
Yes
Multifamily Units
3
Building Details
Building Size
2,396 SF
Year Built
1908
Buildings
1
Listing Agency:
Keller Williams Realty
Listed By:
Joey Wang · License #01890931
(510) 592-5554
Source:
Coastandcore
Added: Sep 18
Changed: Sep 25
Last Checked: Sep 24 at 6:01PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 1908 triplex includes three distinct units, an open rear yard, four parking spaces, and an automatic gate. Two units are vacant, while the remaining studio is leased month-to-month. Unit 1 spans 1,147 SF on the main floor and features two bedrooms, an office, a brick fireplace, inlaid hardwood flooring, a 17-foot kitchen, and a private deck. Unit 3 contains 642 SF beneath a vaulted open-beam ceiling, with windows on three sides and updates completed in 2026. The 453 SF studio comprises Unit 2. Additional features include on-site laundry and a roof estimated at five to ten years old.
The property is a short walk from Grand Avenue and Lake Merritt, with a Walk Score of 89 and bus service located one-tenth of a mile away. The site is in Oakland’s Adams Point area.
The property is a short walk from Grand Avenue and Lake Merritt, with a Walk Score of 89 and bus service located one-tenth of a mile away. The site is in Oakland’s Adams Point area.
Key Highlights
- Three‑unit property built in 1908
- 1,147 SF main‑floor unit with two bedrooms, an office, fireplace, hardwood floors, 17‑foot kitchen, and private deck
- 642 SF Unit 3 with vaulted open‑beam ceiling and windows on three sides
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
$54,911
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
7.90%
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%
$1,098,220
$1.1M
Cap Rate 7%
$784,443
$784.4K
Cap Rate 9%
$610,122
$610.1K
Market Conditions
NOI Build-Up for 2,396 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
$81.9K $34.20/SF
− Vacancy
−$3.5K −$1.46/SF
EGI
$78.4K $32.74/SF
− OpEx
−$23.5K −$9.82/SF
NOI
$54.9K $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%
$1,098,220
Cap Rate 7%
$784,443
Cap Rate 9%
$610,122
Alternative Uses
Best Use
Multifamily LT 5
$784.4K
$686.4K – $915.2K
NOI $54,911 @ 7.0% cap · market cap 7.90%
Second Best
Apartment 5plus
$722.7K
$632.4K – $843.2K
NOI $50,592 @ 7.0% cap · market cap 7.28%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
6,047
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - 1908 property with four parking spaces, an automatic gate, and convenient access to Grand Avenue and Lake Merritt.
Where is this triplex located?
The property is located at 328 Warwick Ave 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: Three‑unit property built in 1908; 1,147 SF main‑floor unit with two bedrooms, an office, fireplace, hardwood floors, 17‑foot kitchen, and private deck; 642 SF Unit 3 with vaulted open‑beam ceiling and windows on three sides
